Vacate a judgment against me
If you are like many of Graham & Borgese’s past and present clients, you only discovered that a judgment was entered against you because:
– Your wages are about to be garnished,
– Your bank account has been frozen, or
– You can’t sell or refinance your home because a lien exists.
We understand that you are probably very stressed and anxious for a solution to your problem. That is why our knowledgeable and experienced attorneys will do everything in their power to help get you back on track as quickly as possible. You have questions and we have answers.>
How Did I Get a Judgment Entered Against Me?
order for a creditor to obtain a judgment, they must first file a lawsuit in the appropriate Court and give you notice of the case so you can fight it if you choose. Sometimes, creditors fail to provide adequate notice of the lawsuit and obtain a judgment by default. Even if a judgment is obtained by default, it has the full force and effect as any other judgment (unless and until it is challenged and vacated).
Why Do Creditors Want Judgments?
Creditors file lawsuits to confirm that you owe a debt and obtain a judgment so you can potentially be forced to repay it.
A judgment allows creditors to try and garnish your wages, freeze your bank accounts and/or place liens on your property. In each scenario, the creditor doesn’t have to deal with you directly to force you to pay.
Additionally, creditors want judgments because they can last up to twenty (20) years in New York State and accrue interest at 9% until they are repaid in full. From this perspective, a creditor knows that even if you are unable to repay the debt now, you may come into money or property later on in life and the debt will likely be much larger. Thus, a judgment is security for the creditor and a significant burden for you.
Options for Resolving Judgments
Your options for resolving judgments range from debt settlement (i.e. payment plans or lump sum amounts) to filing motions to vacate the judgment so that you can either defend the lawsuit or throw out the case altogether.
If you have a quick question that wasn’t answered here, please don’t hesitate to fill out the Contact Form on this page or call our offices for a free consultation.