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How long does creditor's court ordered judgement last? Can a creditor hold finances from 2005 judgement without notification?
Anonymous5 views3 answers
I become unemployed against my will back in December 2004. I went to court with Federated Holdings and a court judgement was brought against me in 2005. Unfortunately, I was unemployed until now. Just now a creditor has a hold on my funds in my account case checks to bounce. I received no notice. I had a credit report ran and their name is longer on my report.. What can I do?
A judgment lasts a long time. In Illinois where I am licensed it is ten years, and then the creditor can revive the judgment. Look up how long in Michigan a judgment lasts, a creditor can also revive it with the court. Hopefully someone from Michigan answers the question.
A judgment is good for 10 years and can be renewed for another 10. A creditor does not have to give you notice when they garnish your bank account. You need to file an objection with the Court and ask for an installment payment order. Bring proof of income and expenses. Propose a reasonable payout amount and the judge will grant your request and usually release your bank account or at least a portion of it.
Interestingly I just had a client ask me the same thing.. a garnishment holds the money in your account.. the bank has no choice but the bank must give you notice of the garnishment..
You have a duty to go to court and to object to the garnishment... now that you have a job negogiate a payment plan.. one that you can afford and follow through with it exactly as you have negogiated.. or this cycle will start all over again until you have satisified the judgment.
