amyg1978 Posted November 4, 2009 Report Share Posted November 4, 2009 I have a judgment against me in the amount of ~$11K (it was for $8600 originally, but fees/interest have accrued). I do not dispute that I defaulted on the original loan - I was served a summons notifying me that the suit was filed but was never notified of a hearing date/time. I have all of that paperwork and do not see any information pertaining to a hearing. I realize now that I didn't respond properly to the summons and the judgment is a default judgment. I have made a couple of (very) small payments to the lawyer's office, but haven't sent any money for at least two years. I received notice that a lien has been filed against my home last year. They have not contacted me for at least a year. What does this mean, exactly? I am afraid to contact the lawyer's office that brought the suit as I fear they'll try to begin collection action again and I am simply not in a place, financially, to start paying this judgment back. My understanding of it is that they've placed the lien on my home and when I try to sell it, I will have to pay off the judgment amount/lien to get it removed so that it has a clear title. I would eventually like to get this paid off/lien removed but I don't know where to start. I've read several responses on the forum which have been quite helpful, but I am just not sure where I am in this process and what would be the proper first steps to take when I am ready to begin paying this back. Thanks in advance for any advice. Link to comment Share on other sites More sharing options...
Guest usctrojanalum Posted November 4, 2009 Report Share Posted November 4, 2009 real property liens generally last for about 10 years, some states it's more some states it is less but that is probably the average should not be hard to check how long a lien is good for.With the lien in place you will not be able to sell or transfer the title without paying off the judgment. Also banks will not allow you to refinance if you still owe a mortgage. However, if you ever look to sell your house it's a pretty easy way to pay off the judgment because the money is not technically coming out of your pocket but rather from the proceeds of the sale. Link to comment Share on other sites More sharing options...
unusualsuspect Posted November 13, 2009 Report Share Posted November 13, 2009 Don't expect them to contact you at all... they've got your home's title clouded up really nicely...If you are serious about getting rid of them, then contact the attorney's office and attempt to negotiate the judgment. Tell him your behind on payments and that you're thinking of letting the house go and this is his only chance to get paid... chances are he will bite. Link to comment Share on other sites More sharing options...
Guest usctrojanalum Posted November 18, 2009 Report Share Posted November 18, 2009 Well they would welcome a foreclosure actually because if there is any surplus monies left over liens on real property would then be paid off. Link to comment Share on other sites More sharing options...
Morganna Posted November 20, 2009 Report Share Posted November 20, 2009 http://www.judgmentenforcementagency.net/Nebraska_Judgment_Enforcement.htmlThe above link will help with an overview of your state's judgement enforcement rules ....The balance will continue to grow as it will acrue interest - with that said this could be something that becomes very costly as you wait ...So only contact this atty if you are serious about paying on this and will keep up on the payments .. They really have no incentive to accept a settlement of less unless the amount would be in full (then possibly interest may be something they would remove) Otherwise understand they have a claim to your title and whether they get paid now or not doesnt effect their day .. They will get paid at some point ..Also understand they can sell this to another entity who becomes the judgement holder who in turn could really be more aggressive ...It seems to be catch 22 dilemma -- but the more informed/educated you become the better for you in the long run to make a sound decision. Link to comment Share on other sites More sharing options...
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