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"Judgment proof" is an informal and somewhat disparaging term for "doesn't have enough assets that we can seize to satisfy the judgment." When someone has a judgment against you for money and you don't pay, she can ask a court to "execute" on the judgment. The county sheriff comes and either actually or symbolically takes your property ("levies upon it" they call it) and, if it's not cash (like bank accounts) then sells it at a public auction. The money from the sale goes to pay the person you owe. If there's anything left over, you get it. There are special rules for levying upon and taking things like your home if you own it but the basic theory is the same. When folks say someone is judgment proof they mean the person doesn't own enough stuff that, when sold, there would be enough money to pay the judgment. Effectively, people who say it mean the person is too poor to be worth suing because you'll wind up with a judgment but still won't be able to collect. Keep in mind that in many places (I'm not sure about Indiana), the judgment holder can also garnish your pay, taking a piece of every paycheck.
In Indiana, a person can become judgment proof by having no income or assets that can be legally seized to satisfy a debt. To protect yourself from creditors, make sure to keep a low income and minimal assets, such as exempt property like a primary residence or personal items. It may also be helpful to consult with a legal professional to understand your rights and options.
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Is judgment proof legal in Kentucky?
Yes, judgment proof is legal in Kentucky. Judgment proof refers to a situation where a defendant does not have sufficient income or assets to fulfill a court-ordered judgment. In such cases, the court is unable to enforce collection of the judgment against the defendant.
What is a test that a judgment can be based on?
One example of a test a judgment can be based on is the reliability and validity of information or evidence presented. Another test could be the ethical considerations involved in making the judgment.
What is the difference in retrospective and prospective judgment?
Retrospective judgment involves evaluating past events or actions, focusing on what has already occurred. Prospective judgment involves making predictions or decisions about future events or actions, focusing on what may happen. Retrospective judgment relies on hindsight, while prospective judgment relies on foresight.
What is interlocutory default judgment?
An interlocutory default judgment is a preliminary ruling issued by a court when one party fails to respond or participate in a lawsuit. It is not the final judgment in the case but may be used to move the legal process forward in the absence of the non-responsive party.
Does Illinois allow for judgments to be renewed after 7 years?
No, judgments in Illinois cannot be renewed after 7 years. The statute of limitations for enforcing a judgment in Illinois is typically 20 years, which means that the creditor has up to 20 years to try and collect on the judgment.
Is judgment proof legal in Kentucky?
Yes, judgment proof is legal in Kentucky. Judgment proof refers to a situation where a defendant does not have sufficient income or assets to fulfill a court-ordered judgment. In such cases, the court is unable to enforce collection of the judgment against the defendant.
How do you become an Indiana resident?
First you must move to Indiana. Currently, residency will take one year. Thus, change your license immediately after moving and/or make sure you have other proof should you be required to submit it. For example auto license, utility bill, etc. Viper1
Can a trust's property be taken if one of the trustees has a judgment against him?
A judgment against the trustee in his individual capacity will not affect the trust property. A judgment against the trustee as the trustee will become a lien on the trust property.
Is a low income family judgment proof that receives food stamps and medical assistance for their three children?
First of all, I should make one thing clear: being "judgment-proof" is not a legal defense to liability.You can't go into court and say "I'm judgment-proof, therefore the lawsuit should be dismissed." Whether or not you can actually satisfy a judgment has no bearing on your liability, and the court's ability to impose the judgment. And if you are found liable, that judgment can follow you around for the rest of your life, or until you pay it, creating problems at every turn.The term "judgment-proof" simply refers to a practical consideration faced by all plaintiffs: given the financial situation of the defendant, how easy or difficult will it be to actually collect the judgment? A plaintiff might decide that, even if they win, the defendant has so few assets that collecting the judgment could take more time or effort than it's worth.If you're employed, and lose this lawsuit, the plaintiff may be able to garnish a percentage of your wages until the judgment is satisfied. There are many other procedures through which a judgment can be enforced, as well.
How long must some one reside in Indiana prior to becoming governor?
To become Governor of Indiana, a candidate must have lived within Indiana for the period of five consecutive years before the election.
Can a civil judgment result in the repossession of a car that is co owned?
If the civil judgment is due to not making payments for an auto loan on the car that is in question, then yes, that car may be repossessed as a result of the judgment. If there is a judgment against both owners of the car (i.e., if the co-owners are both listed as defendants), then the car is considered an asset and may be repossessed unless there is proof that the car is required for one or all of the co-owners to earn money in order to pay the judgment. If there is a judgment against only one of the owners of the car (i.e., if one of the co-owners is listed as a defendant, but ANY of the others are not), then no, the vehicle may not be repossessed.
How can one become a vampire?
You can't... at least science has never found proof that it's possible. It's fiction.
How many garnishment are allowed in Indiana?
Not sure about Indiana, but "generally" they can only garnish a max of 25% from pay. At times this results in termination from inscrutable employers that don't want the hassle. The good news is if more than one party has a judgment, only the first one "generally" gets that 25% if they are successful. the rest (of your creditors) are out of luck.
When was One Indiana Square created?
One Indiana Square was created in 1970.
Which is correct Counter proposed judgment or proposed counter-judgment?
Proposed counter-judgment, how do you file one?
When does a judgment lien take effect the day of the judgment or the filing of the transcript in Colorado?
A judgment lien takes affect the day of the judement, HOWEVER, it must be recorded right away. If a subsequent judgment lien is recorded first then the first judgment lien would lose it's place in Massachusetts and become second in priority. Massachusetts is a "race notice" state. The first one to record the document in the land records wins!
What happens if you have a child support judgment againist some one and that person dies?
You become one of the creditors of the estate. Whether you receive anything depends on the size of the estate and the size of the claims on it.
