Re: Advice on Judgment

Posted by Drew (24.59.27.46) on April 21, 2004 at 15:50:00:

In Reply to: Re: Advice on Judgment posted by Drew on April 21, 2004 at 15:44:22:

I had forgotten that there was a judgment. Since they already have the judgment, if you don't take steps to address it, they have the legal standing to begin siezing your assets. Michigan allows wage garnishment and it is 25% of take home pay after taxes. They do allow liens on home and vehicles and they do allow siezing of your checking accounts.

The reason they haven't done anything yet is because they probably forgotten about you at the moment. If you call them now and make the first move and have a sizeable settlement offer in hand, chances are they will work with you. The other option is bankruptcy which is not in your case.

Make sure though that you find out from the courthouse who has the rights to the judgment and offer payment to them. YOu only want to make payment to the person who can get the judgment satisfied and no one else.

So the first thing I would do is make sure you have enough of a cash settlement to offer a good downpayment and then get everything in writing.

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