Opa Locka, FL asked in Civil Litigation, Collections and Small Claims for Florida

Q: What can happen to me if I can't pay a court judgment to collect a $6000 credit card debt? I only have a 2013 car.

No money in the bank, I am graduate student--no employment, no other property. I am married.

3 Lawyer Answers
Andy Wayne Williamson
Andy Wayne Williamson
Answered
  • Santa Rosa Beach, FL
  • Licensed in Florida

A: A judgment is merely a piece of paper signed by the Judge that states that you owe a stated sum of money. The Judgment will begin to accrue interest at the current rate of: 5.05% effective on April 1, 2017.

The Judge allows the judgment creditor to seek to garnish wages or bank accounts ect, but they must do so through the court system. Of course, you must have something to garnish for them to be able to do so.

Since you are married, you want to be careful that the Judgment creditor does not attempt to garnish a joint bank account and try to take funds from the account earned by your spouse. The Judgment can become a lien against any property that you own with certain limitations like on a Florida homestead.

Hopefully this helps.

1 user found this answer helpful

James Turner
James Turner
Answered
  • Collections Lawyer
  • Orlando, FL
  • Licensed in Florida

A: If a creditor has a judgment against you, they can, in most cases, garnish your wages, attach your bank accounts and seize your personal property. In Florida, a judgment is valid for 20 years.

Mark Siegel
Mark Siegel
Answered
  • Sarasota, FL
  • Licensed in Florida

A: No guarantee, of course, but the odds of the creditor trying to take your car are remote.

The judgment will sit and accrue interest. If you get a job, your wages could be garnished. You probably would not get bank financing to buy real estate with the judgment sitting there. The judgment is lien against property that you own.

Be careful about putting your name on your wife's assets.

1 user found this answer helpful

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