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Old 05-14-2003, 03:34 PM
jojomarx
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Advice Re Dealing with a Judgment Against Me


What is the name of your state? Ohio. I recently received notice that a judgment was obtained against me for a business loan of $10,000 I obtained some 10-12 years ago. The loan was unusual in that there was no monthly payment plan established. Quarterly, I have received an invoice for the interest and a display of the principal. I have paid the interest and small amounts on the principal. Last year I became unemployed for 12 months. Thus, this Dec. when the invoice came in, I could not pay it. Then in April, suddenly got papers of a judgment obtained against me. Last week, the Sheriff's office served me papers to show up in court bringing all my deeds, etc. re. this judgment. I am of course terrified. I want to pay the loan but do not know what to do. My largest fear is that they will take my house (worth about $115,000) and sell it at auction. I have nothing else besides a car. I am working now so could begin payments again. At any rate, I'd like some advice on what I should do before the May 30 court date and some ideas about what the worst they can do to me re. recovery of this loan. Thanks.
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