What are my options

[davenport3]

What is the name of your state (only U.S. law)? Florida

I am almost losing a civil case and I will need to pay heavy monetary sanctions to the plaintiff. I have the following properties/income:

(I). The house in which I have been living with my family for more than ten years (the house is jointly on my name and my wife’s name).

(ii). an empty land which is on my name and my wife’s name

(iii). Money in the bank: this money is my salary earnings for the last several years.

(iv). I have a job from which I receive salary.

(v). I have wife and a child dependent on me.

(vi). All the above properties/money together will be value less than the amount of the monetary sanctions.

If I do not pay the monetary sanctions then what properties the court/plaintiff can take from me? Can the court/plaintiff put a lean on my salary?

Is it better for me to declare bankruptcy?

 

[Silverplum]

What is the name of your state (only U.S. law)? Florida

I am almost losing a civil case and I will need to pay heavy monetary sanctions to the plaintiff. I have the following properties/income:

(I). The house in which I have been living with my family for more than ten years (the house is jointly on my name and my wife’s name).

(ii). an empty land which is on my name and my wife’s name

(iii). Money in the bank: this money is my salary earnings for the last several years.

(iv). I have a job from which I receive salary.

(v). I have wife and a child dependent on me.

(vi). All the above properties/money together will be value less than the amount of the monetary sanctions.

If I do not pay the monetary sanctions then what properties the court/plaintiff can take from me? Can the court/plaintiff put a lean on my salary?

Is it better for me to declare bankruptcy?

From this pamphlet by the FL Bar Association: http://www.floridabar.org/tfb/TFBConsum.nsf/0a92a6dc28e76ae58525700a005d0d53/eeb823f77975d746852579ba006b9edd!OpenDocument

"Q. What happens if I lose the case?

A. If you raise legal defenses or do not respond at all to the lawsuit, a judgment will be entered against you. A judgment is a legal document signed by the judge that sets out the amount that you owe the plaintiff and may include attorney’s fees, costs and interest. It is a document that will become public record and may also be recorded by the plaintiff.

The court cannot make you pay the judgment; however, the plaintiff may take actions to try to collect. For example, after a judgment has been issued, the plaintiff may try to garnish your wages, freeze your bank account or take your other property you own. The judgment creditor cannot do this until after it has obtained another legal paper called a Writ of Execution or Writ of Possession from the court. However, you may have an exemption (a legal defense) to garnishment/levy to save your assets and income from being seized. If a judgment is entered against you, you may want to promptly contact an attorney."

 

[Zigner]

Is it better for me to declare bankruptcy?

There is no way that a bunch of random strangers on the internet could make that decision for you. You would want to sit with a financial advisor and/or an attorney to review your specific situation.

 

[davenport3]

Thanks. Forget about bankruptcy. Please let me know your response for my other questions.

 

[Silverplum]

Thanks. Forget about bankruptcy. Please let me know your response for my other questions.

What am I, chopped liver?

I do love quoting myself:

From this pamphlet by the FL Bar Association: http://www.floridabar.org/tfb/TFBConsum.nsf/0a92a6dc28e76ae58525700a005d0d53/eeb823f77975d746852579ba006b9edd!OpenDocument

"Q. What happens if I lose the case?

A. If you raise legal defenses or do not respond at all to the lawsuit, a judgment will be entered against you. A judgment is a legal document signed by the judge that sets out the amount that you owe the plaintiff and may include attorney’s fees, costs and interest. It is a document that will become public record and may also be recorded by the plaintiff.

The court cannot make you pay the judgment; however, the plaintiff may take actions to try to collect. For example, after a judgment has been issued, the plaintiff may try to garnish your wages, freeze your bank account or take your other property you own. The judgment creditor cannot do this until after it has obtained another legal paper called a Writ of Execution or Writ of Possession from the court. However, you may have an exemption (a legal defense) to garnishment/levy to save your assets and income from being seized. If a judgment is entered against you, you may want to promptly contact an attorney."

 

[I'mTheFather]

Thanks. Forget about bankruptcy. Please let me know your response for my other questions.

Asked and answered:

From this pamphlet by the FL Bar Association: http://www.floridabar.org/tfb/TFBConsum.nsf/0a92a6dc28e76ae58525700a005d0d53/eeb823f77975d746852579ba006b9edd!OpenDocument

"Q. What happens if I lose the case?

A. If you raise legal defenses or do not respond at all to the lawsuit, a judgment will be entered against you. A judgment is a legal document signed by the judge that sets out the amount that you owe the plaintiff and may include attorney’s fees, costs and interest. It is a document that will become public record and may also be recorded by the plaintiff.

The court cannot make you pay the judgment; however, the plaintiff may take actions to try to collect. For example, after a judgment has been issued, the plaintiff may try to garnish your wages, freeze your bank account or take your other property you own. The judgment creditor cannot do this until after it has obtained another legal paper called a Writ of Execution or Writ of Possession from the court. However, you may have an exemption (a legal defense) to garnishment/levy to save your assets and income from being seized. If a judgment is entered against you, you may want to promptly contact an attorney."

Please note the last line in the quote. Get an attorney.