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Gaybucks · 04-14-2006, 09:07 PM

I think you've got your basic answers, maybe I can recap brieflly (standard disclaimer, IANAL)

-- The default judgement is enforceable against any assets, liquid or not, that the person owns. This includes ownership % in businesses, domain names, intellectual property such as photo sets, websites, etc., cars, boats, any sort of cash/securities/stocks/etc. There are limited exclusions for a house that you live in, but they can still get a lien against it so it can't be sold without paying off the leinholder.

-- The judgement stays alive for a long time, varying by state (7 years is common.) It can be renewed at the end of the first term for another term, usually the same length. Most courts will award interest, usually at a high rate (8-10% per year) on any judgement, so on 500,000, the judgement could grow by $3500-4500/month

-- In MOST cases, the judgement can be erased by a bankruptcy, but the laws have recently changed, and it's more difficult to get a Chapter 7 (discharge) bankruptcy than it used to be; you often have to make a 5-7 year payout agreement to pay whatever you reasonably can (determined by the court) now.

-- Vacating the judgement by arguing inappropriate venue is possible, but somewhat of a longshot. The judge hearing the case won't take too kindly to the fact that nobody bothered to even respond to the case.

Your best bet is to contact the judgement holder and try and work out a settlement. It's going to suck, as they have little reason to negotiate with you, but perhaps if you offer them as much cash as you can get, and an aggressive payment arrangement for a year or two, they MIGHT go along with it. But I'd highly recommend using an attorney familar with negotiating deals like this to make it happen.

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04-14-2006, 09:07 PM
Gaybucks Confirmed User Join Date: May 2004 Location: Sacramento, CA Posts: 451	I think you've got your basic answers, maybe I can recap brieflly (standard disclaimer, IANAL) -- The default judgement is enforceable against any assets, liquid or not, that the person owns. This includes ownership % in businesses, domain names, intellectual property such as photo sets, websites, etc., cars, boats, any sort of cash/securities/stocks/etc. There are limited exclusions for a house that you live in, but they can still get a lien against it so it can't be sold without paying off the leinholder. -- The judgement stays alive for a long time, varying by state (7 years is common.) It can be renewed at the end of the first term for another term, usually the same length. Most courts will award interest, usually at a high rate (8-10% per year) on any judgement, so on 500,000, the judgement could grow by $3500-4500/month -- In MOST cases, the judgement can be erased by a bankruptcy, but the laws have recently changed, and it's more difficult to get a Chapter 7 (discharge) bankruptcy than it used to be; you often have to make a 5-7 year payout agreement to pay whatever you reasonably can (determined by the court) now. -- Vacating the judgement by arguing inappropriate venue is possible, but somewhat of a longshot. The judge hearing the case won't take too kindly to the fact that nobody bothered to even respond to the case. Your best bet is to contact the judgement holder and try and work out a settlement. It's going to suck, as they have little reason to negotiate with you, but perhaps if you offer them as much cash as you can get, and an aggressive payment arrangement for a year or two, they MIGHT go along with it. But I'd highly recommend using an attorney familar with negotiating deals like this to make it happen. -- __________________ Gaybucks.com 100% exclusive American guys - hosted movie galleries - NATS - Boyfunk.com - Boysfeetclub.com - AJsCloset.com- SkylerDeVoss.com ICQ 272-995-402