Submitted by Barry Borowitz on Mon, 07/01/2013 - 9:01am
Will you be in credit card debt forever?
Submitted by Barry Borowitz on Fri, 06/28/2013 - 5:50am
What Does it Mean to be “Judgment Proof?”
Unsecured creditors, like credit card lenders, must obtain a judgment against you before they can attach assets in satisfaction of past due debts. They do this by suing you for what you owe. Most people rightfully owe the debt and fail to respond to the collection lawsuit. As a result, the court enters a judgment, which is the court's determination that you owe what the creditor says you do.