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I have a debt over $50000 on my credit cards.(Due to I am Jobless). If creditors file the Judgment against me.(They take me to the court). What will happen to me? please kindly note that I am Jobless and I do not have even a cent in my account bank.(So, they cant garnish my wage or take money from my Bank account Also, I know the Judgment will stay at my report for 7 years. Except the mentioned thing what will happen for me? I am living in California and I do not own a house or a commercial business too. What is the maximum bad result that may happen for me after the Judgment?
Best Regards,
Sha
If the creditors sue you to the court, they will bring judgment against you either to garnish your bank account or to garnish your wage. Now, there are 4 states where wage garnishment is not possible. They are N and S Carolina, PA and Texas. But even in these 4 states, the creditor can garnish your bank account.
Now, since right now, you neither have an income nor money in your bank account, the creditor will bring judgment against you but will not make any garnishment. This is because SOL on judgment is 10 years in California and the creditor can start garnishment anytime during this period.
Judgement
Justin,,, Do you mean that the SOL of Judgement is 10 years in California?
Is it right? I have heard it is 4 years.
Thanks,
Sha