Author Topic: How hard did your creditors collect AFTER they won a judgment?  (Read 823 times)

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ironfist

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My spouse has significant debt but is also judgment proof. She's currently a stay-at-home mom and nothing of ours is in her name. I've tried helping her fight collection agencies as much as I could, but a couple have won judgments (not surprising given the fact that she's unwilling to actually go to court). That said, I've used the information here on debtorboards to beat back a few of her creditors and even get one lawsuit dismissed (remember we have pocket service here in MN).

So, my question is for those who have had judgments against them. How hard did your judgment creditors come after you? Did they attempt to attach wages, seize bank accounts, take possession of your physical property, etc? Did they demand financial disclosure or have you summoned to a debtor's exam?

Right now my wife has two judgments against her, both of which were docketed approximately two years ago. We haven't seen any action on them except recently when one of the JDB lawyers sent us the "notice of intent to garnish wages" that's required by law. Of course it's moot since she doesn't have a job (I'm guessing they don't know that), but we haven't seen anything since.

Judgments last for 10 years in Minnesota but can (unfortunately) be renewed indefinitely. The silver lining to that is, looking through the court records, the overwhelming majority of JDBs and even original creditors let unpaid judgments expire and don't renew.

So, what are your experiences?

Clydesmom66

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Re: How hard did your creditors collect AFTER they won a judgment?
« Reply #1 on: January 24, 2018 03:19:09 PM »
My spouse has significant debt but is also judgment proof. She's currently a stay-at-home mom and nothing of ours is in her name. I've tried helping her fight collection agencies as much as I could, but a couple have won judgments (not surprising given the fact that she's unwilling to actually go to court). That said, I've used the information here on debtorboards to beat back a few of her creditors and even get one lawsuit dismissed (remember we have pocket service here in MN).

So, my question is for those who have had judgments against them. How hard did your judgment creditors come after you? Did they attempt to attach wages, seize bank accounts, take possession of your physical property, etc? Did they demand financial disclosure or have you summoned to a debtor's exam?

Right now my wife has two judgments against her, both of which were docketed approximately two years ago. We haven't seen any action on them except recently when one of the JDB lawyers sent us the "notice of intent to garnish wages" that's required by law. Of course it's moot since she doesn't have a job (I'm guessing they don't know that), but we haven't seen anything since.

Judgments last for 10 years in Minnesota but can (unfortunately) be renewed indefinitely. The silver lining to that is, looking through the court records, the overwhelming majority of JDBs and even original creditors let unpaid judgments expire and don't renew.

So, what are your experiences?

There is no blanket one size fits all answer to that.  Not even for the same creditors. Some pursue relentlessly and others get the judgment and do nothing.  Much depends on the state where the judgment was attained and the collectability of the consumer it is against.  If there are no assets to pursue then throwing good money after bad chasing empty coffers is pointless.  Many choose to monitor credit reports looking for judgment consumers to become credit worthy again and then pounce.

You haven't said who has judgments against her so even then it is impossible to give examples based on those creditors in your state. 
Be VERY careful following advice from the internet! What worked for someone with thousands of posts on a message board may not work for YOU in your state.  Consult a lawyer when ever possible.

CleaningUp

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Re: How hard did your creditors collect AFTER they won a judgment?
« Reply #2 on: January 24, 2018 05:27:32 PM »
Judgments are profit in escrow for the judgment creditor, and the carry with them a handsome return on investment...the statutory post-judgment interest.

There is decreasing incentive for the creditor to pursue the judgement until it is about to expire. 

Flyingifr

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Re: How hard did your creditors collect AFTER they won a judgment?
« Reply #3 on: January 24, 2018 08:42:07 PM »
Judgments are profit in escrow for the judgment creditor, and the carry with them a handsome return on investment...the statutory post-judgment interest.

There is decreasing incentive for the creditor to pursue the judgement until it is about to expire.

Some are. Most (like these Judgments) are just litter awaiting the wastebasket. While there are no actual statistics showing what percentage of Judgments are ultimately collected, in full or in part, I can tell you that among DB members the percentage seems to be pretty small.
BTW-the Flyingifr Method does work. (quoted from Hannah on Infinite Credit, September 19, 2006)

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CleaningUp

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Re: How hard did your creditors collect AFTER they won a judgment?
« Reply #4 on: January 25, 2018 02:55:13 AM »
I agree with you.

But DB's membership is an astonishingly low percentage of those who have judgments out against them.


ironfist

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Re: How hard did your creditors collect AFTER they won a judgment?
« Reply #5 on: January 25, 2018 05:20:42 PM »
There is no blanket one size fits all answer to that.  Not even for the same creditors. Some pursue relentlessly and others get the judgment and do nothing.  Much depends on the state where the judgment was attained and the collectability of the consumer it is against.  If there are no assets to pursue then throwing good money after bad chasing empty coffers is pointless.  Many choose to monitor credit reports looking for judgment consumers to become credit worthy again and then pounce.

You haven't said who has judgments against her so even then it is impossible to give examples based on those creditors in your state.

Thanks everyone for your answers.

To answer your questions specifically (Clydesmom66), there are two judgments. The first is from Cach LLC for $5k. That one irks me because, had it been me, I believe I would've prevailed. The second is from Discover Bank for a private student loan for just under $15k.

I think you're right about there being no one-size-fits-all answer. Even when I went through the court records looking at docketed judgments with Cach LLC as the creditor, their actions have varied considerably. Sometimes you'll see orders for disclosure and multiple writs of execution and sometimes you won't see any activity at all. What I did see across the board is the fact that once the initial 10 year period is up, they don't renew. Of course this can always change.

Discover Bank is a little bit harder, since who knows how they'll be with the defaulted student loans they acquired from Citibank. They're much more aggressive as a collector and they don't seem to sell off the debt. A similar records search showed me that they don't have a history of renewing judgments but again - a lot can change in 10 years.

Right now we're simply in asset protection mode for her. Thanks to the wonderful advice here and our current plans for the future, I think we'll be able to frustrate any attempts to collect on the judgments .

Clydesmom66

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Re: How hard did your creditors collect AFTER they won a judgment?
« Reply #6 on: January 26, 2018 12:21:16 AM »
Thanks everyone for your answers.

To answer your questions specifically (Clydesmom66), there are two judgments. The first is from Cach LLC for $5k. That one irks me because, had it been me, I believe I would've prevailed. The second is from Discover Bank for a private student loan for just under $15k.

I think you're right about there being no one-size-fits-all answer. Even when I went through the court records looking at docketed judgments with Cach LLC as the creditor, their actions have varied considerably. Sometimes you'll see orders for disclosure and multiple writs of execution and sometimes you won't see any activity at all. What I did see across the board is the fact that once the initial 10 year period is up, they don't renew. Of course this can always change.

Discover Bank is a little bit harder, since who knows how they'll be with the defaulted student loans they acquired from Citibank. They're much more aggressive as a collector and they don't seem to sell off the debt. A similar records search showed me that they don't have a history of renewing judgments but again - a lot can change in 10 years.

Right now we're simply in asset protection mode for her. Thanks to the wonderful advice here and our current plans for the future, I think we'll be able to frustrate any attempts to collect on the judgments .

I think you may have a bigger problem with CACH than Discover.  CACH is in bankruptcy and the trustee may require they go after these uncollected judgments.  Stay alert.
Be VERY careful following advice from the internet! What worked for someone with thousands of posts on a message board may not work for YOU in your state.  Consult a lawyer when ever possible.

 

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