Q: How to handle a judgement?
I was involved in a real estate lawsuit over a house I purchased. The home has over 100k in structural damage that was discovered just a month after purchase. Unfortunately the judge threw my case out a day before trial and awarded attorney fees of $15k to the seller. I don’t have money to repair my house let alone $15k but now the attorney is threatening to garnish my accounts and has put a lien on the home. I offered to pay $50 a month bc that’s all I can afford but was told no. Do I have any options? Should I file bankruptcy at this point?
A: Contact a bankruptcy attorney who can fully evaluate your situation.
A:
Facing a judgment can be daunting, especially when it threatens your financial stability. First, you should evaluate the judgment to ensure it was entered correctly and contemplate whether grounds exist to appeal the decision or set it aside. If that's not a viable option, and your financial situation is as dire as you describe, bankruptcy may be a consideration, as it can discharge certain debts and provide a fresh start.
However, not all judgments are dischargeable in bankruptcy, and the implications for your home and other assets can be significant. You might also explore negotiating a settlement for a lump sum that’s less than the full amount or seeking a court-approved payment plan. It’s crucial to act swiftly as ignoring the judgment can lead to aggressive collection efforts. Consultation with a bankruptcy attorney can provide personalized guidance on the best course of action for your particular circumstances.
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