If you are struggling with finances and now have a court judgment filed against you for credit card debt, you are certainly not alone. In the US today, consumer debt edges ever closer to $13 trillion—and many are either delinquent, defaulting, or on the verge of entering one of those categories. While credit card debt is commonly construed as the result of irresponsible spending, more often it may be due to a lack of income that caused the consumer to rely on credit for an interim—or indefinite—period. Most individuals who find themselves deeply in debt have suffered a major setback after becoming ill or taking care of a family member, losing a job, ending a marriage, or more.
It can be challenging to get back on your feet after a period of disruption to your finances, and as you work on cleaning up your credit, you may worry about how to handle a judgment that was granted against you previously for a credit card debt. Your first step should be to consult with an experienced judgment law firm in California like Fitzgerald & Campbell, APLC. There, you will discover you have numerous options for taking control of your finances—and your future.
Having a judgment against you is not the end of the world. Many debtors have been through such a terrible time that they have very little left to take, are unemployed, and may even be completely judgment proof; however, if you do have some income and assets, the judgment could present problems in the future as creditors may continue to pursue you for payment by:
- Garnishing wages
- Levying bank accounts
- Seizing property
If you are worried about such activity, begin working with an experienced judgment attorney as soon as possible to resolve the issue. You could choose to satisfy the judgment, paying it off—and may be able to do this reasonably as your attorney negotiates a settlement much lower than the initial debt; or, even though time has passed, your attorney may still be able to file to vacate the judgment. This will allow you to contest the case and if you win, have the judgment removed from your credit report. Bankruptcy is also available as an option for discharging the debt.
If you are interested in exploring ways to eliminate debt or settle a judgment, contact the attorneys at Fitzgerald & Campbell, APLC. We can review your current situation, answer your questions, and help you move forward. Our judgment attorneys have decades of experience representing clients in California, and we are here to help you!