• ¡Welcome to Lending Network!
  • America's Fastest Growing Loan Scenario Online Forum
Hello There, Guest! Login RegisterLogin with Google+


Welcome to Lending Network! America's Number One Loan Scenario Help Center For The Public Join Our Lending Network Online Community Forum And Ask Your Loan Case Scenarios To Our Moderators & Real Estate Professionals.
It takes seconds to become a member. Lending Network was created and launched as a mortgage, real estate, and credit information center for the general public to utilize it as a loan scenario help desk online community forum.

Poll: Was this thread helpful?
Yes it was very helpful
No, it was not helpful
[Show Results]
 
 
Thread Rating:
  • 1 Vote(s) - 5 Average
  • 1
  • 2
  • 3
  • 4
  • 5
What is judgment proof?
#1
A judgment is when the courts determines that you owe a creditor a set amount of money. A judgment creditor is the person or entity that has a right to enforce the judgment and go after the judgment debtor. However, a judgment debtor cannot be forced to pay the judgment amount if he or she does not have any assets and/or income. If a judgment debtor has no assets nor income, the judgment debtor is deemed as judgment proof. If you don't have anything of value, the judgment creditor cannot go after you and that is being judgment proof. Even if you have a job but are at or below a certain income level, a judgment creditor cannot garnish your wages. There are certain minimum income requirements for a judgment creditor to come after garnishing your wages.

 
Reply
  


Forum Jump:


Browsing: 1 Guest(s)