After a debt is unpaid for a long period, the creditor or debt collector can file a judgment against the borrower ultimately forcing him to pay the debt. State debt collection practices laws regulate debt collection statutes for judgments in Georgia.
Significance
A judgment is a court-ordered mandate to make repay a debt. Having a judgment filed in court can result in a lien on property, checking account levies or wage garnishments. The payment method is determined, in part, by the effort the borrower puts forth in paying the obligation.
Time Frame
In Georgia, any instrument under seal is eligible for collection for up to 20 years after the filing, which can include judgments. This means the mandate for payment can be attached to property or collected on until the seal expires. If the judgment is not under seal, the holder of the judgment has four years in which to collect.
Considerations
Before a judgment is filed, a borrower has the right to rebut the filing within the court system. If the borrower is successful, the judgment is not filed. The judge presiding over the filing decides the success of the borrower's pleas.
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