+ Reply to Thread
Results 1 to 3 of 3
  1. #1
    DianeL. Guest

    best way to settle a judgment?

    What is the name of your state? Maryland

    I have a judgment hanging over my head for 5k. the judgment was filed in Feb/01 in court. so I assume its to late to appeal it. So now the only thing I can do at this point is to settle to keep them from comming after my bank account. They cant hit my employment as I am self employed. I do have issues with the sum they have derived at however. It is way off. What would be the best way to handle this? And is there an SOL. for this sort of thing?
    Last edited by DianeL.; 05-19-2003 at 08:15 PM.
  2. #2
    JETX is offline Senior Member
    Join Date
    Jun 2000
    Location
    Somnambulist University
    Posts
    40,807
    "What would be the best way to handle this?"
    *** I suggest you contacting the creditor and trying to negotiate a settlement of the debt.

    "And is there an SOL. for this sort of thing?"
    *** Yes, the SOL for a judgment in Maryland is 12 years. And interest accrues at 10% per year (or higher if the cause of action was a contracted higher rate).

    And guess what... your 'self employment income' can still be grabbed. All they have to do is garnish against your employer or clients. And you have NO exemption.... the creditor can simply take 100% of the 'wages'.
  3. #3
    DianeL. Guest
    Thanks for the info, However I am the employer. I clean houses "under the table" so no findable funds. all cash accounts. and diffrent people each time. 12 years you say? wow! What do you think about "Judgment proof"? Is that possible? hmm, looks like a settlement is in my future eh? should I find a good lawyer that deals in negotiations? Thanks for your help.

Similar Threads

  1. How best to settle old Amex judgment?
    By tomzoom in forum Debt Collections
    Replies: 1
    Last Post: 03-24-2011, 09:05 AM
  2. how to settle a default judgment
    By lasttrace in forum Debt Collections
    Replies: 2
    Last Post: 11-13-2004, 04:08 AM
  3. Trying to settle an old judgment
    By freshstart33 in forum Buying & Selling a Home
    Replies: 4
    Last Post: 10-07-2003, 06:32 PM
  4. Trying to settle an old judgment
    By freshstart33 in forum Banking & Credit Cards
    Replies: 3
    Last Post: 10-06-2003, 07:08 PM
  5. Settle judgment before BK
    By inquizative in forum Consumer Bankruptcy
    Replies: 1
    Last Post: 03-26-2003, 08:10 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

© 1995-2012 Advice Company, All Rights Reserved

FreeAdvice® has been providing millions of consumers with outstanding advice, free, since 1995. While not a substitute for personal advice from a licensed professional, it is available AS IS, subject to our Disclaimer and Terms & Conditions Of Use.