Ways to prevent a credit card judgement include negotiating with the creditor who has the judgement and claiming property as exempt, notes Nolo. To explore additional options, the individual who owes money may want to talk with an experienced attorney who specializes in credit job judgements.Continue Reading
The advantage of negotiating with a creditor is that doing so can convince the creditor to stop the wage garnishment, lien, levy, assignment order or garnishment suit, according to Nolo. The individual who owes the money can also consider turning to a debt counseling agency to help with negotiations and setting up an agreeable payment plan. Those considering going to a debt counseling agency should be sure to do their due diligence to avoid becoming a victim of a scam.
When claiming property as exempt, there's a chance a creditor has no claim on that property, notes Nolo. There's a good chance the property doesn't have to be turned over if the individual can successfully prove to a court that he needs the property either for himself or his family. The person can request hearings to make his case. Usually, a person is unable to make a claim of exemption in the event that the incurred debt is for standard necessities. A person must pay these necessities even if he has fallen on hard financial times.Learn more about Credit & Lending