Credit Card Judgments and How They Affect You
A credit card judgment is a serious infraction on your credit report and a black mark against your credit history. You will not be able to apply for any other credit until it is paid in full. Your wages can be garnished in increments until the debt is paid. This means an amount will be deducted every pay period.
There are no legal reasons why a credit card lender cannot garnish your wages. Although laws vary from state to state, there are no laws preventing it from doing so. Moving to another state from the one where you originally applied for the credit card will not stop a law suit or other proceedings to collect the debt.
In some instances, talking to the credit card company and asking for a settlement amount or payment plan can be negotiated. If you have lost your job or your hours have been cut resulting in reduced wages, your creditor may be able to help you. Have all your pay stubs and other pertinent information when speaking to them.
If you want to appeal before a judge to have the judgment vacated, there are several things you can do. Go to your local small claims court and ask the clerk for a “Notice of Motion To Vacate Judgment.” This form MUST be completed within thirty days of receiving your Notice of Judgment so that it can be time stamped and filed with the proper court.
A clerk will timestamp the paperwork, set the date and time in which you must appear. If you were not aware of the “Notice of Judgment” filed against you, the law also states you have 180 days to file a “Notice of Motion to Vacate Judgment.” A judge may consider your circumstances, but you have to appear before the court to be heard.
Learn how to effectively dispute and erase a legal judgment from your credit reports. See the true story of how judgment victims cleaned up their credit scores at www.creditreportjudgement.com.
