NORTH CAROLINA JUDGMENTS

WHAT IS A JUDGMENT ?

A judgment is a lien on a debtor's property that is granted to a creditor by court judgment.

WHEN IS A  JUDGMENT ENTERED?

If you fail to pay a debt owed, then you have defaulted on a debt. A creditor can file a lawsuit on the debt and will receive a judgment if they can prove there is a valid debt and the amount owed. If you fail to file a response to the lawsuit then the credit will receive what’s called a default judgment. Even if you respond, if the creditor can still prove the debt is owed they will be able to make a motion for summary judgment and receive a judgment that way.

CAN OUT OF STATE JUDGMENTS BE ENFORCED IN NORTH CAROLINA?

A judgment in another state can be enforced in North Carolina, if it is properly domesticated. What this means is that the out of judgment must be filed in North Carolina and the appropriate paperwork showing the source and validation of the debt must be attached. Once this is done a hearing will be held in North Carolina to formally file the judgment in North Carolina with a new case number. Unless the creditor properly domesticates their judgment they will not be able to enforce in North Carolina.

WHAT WILL HAPPEN IF I  JUDGMENT ENTERED AGAINST ME IN NORTH CAROLINA?

Several things can occur once a judgment is entered. A Lien may be enforced by having the sheriff seize the property and hold a sheriff's sale. A lien can also be placed against any real property the debtor owns. If a lien is placed on real property than you will have to satisfy the judgment before the property can be sold or transferred.

CAN I GET A JUDGMENT DISMISSED?

In some limited cases you can file a motion to have the judgment set aside for reasonable cause. For example, if you were not served properly and did not discover the judgment within reasonable time. The best thing to do is to hire an Attorney from onset to see if any legal defenses exist before the judgment in entered. An Attorney can attack the validity of the debt and or the untimely filing of a judgment.

HOW WILL A JUDGMENT EFFECT MY CREDIT?

Judgments are valid for ten (10) years in North Carolina and can be renewed for an additional ten years, upon expiration. A judgment is a very derogatory and negative item on your credit and will definitely lower your credit score.

IS IT POSSIBLE TO REPAIRING MY CREDIT AFTER JUDGMENT HAS BEEN ENTERED?

There are several ways to repair your credit after you have received a judgment.

1. Satisfy the judgment. Keep in mind that satisfying the judgment will be considered to be new activity on that account and that change will remain on your credit report for another seven years.

2. Dispute the item if you feel that it was improperly recorded or placed on your credit.

3. File for Bankruptcy. It makes sense to take this option if you qualify for bankruptcy, and or you have other debts you would like to discharged. In either Chapter 7 or Chapter 13 Bankruptcy something called a Motion to avoid a lien can filed to void the judgment and have it discharged, Consult with a Bankruptcy Attorney in your are for more information.

Maxwell Law Firm represents clients in North Carolina with: bankruptcy court, filing for bankruptcy, chapter 7 bankruptcy, foreclosure defense, chapter 13 bankruptcy representation, and loan modifications. You may schedule your appointment by calling 704-461-1883 or save 25% off the fees and schedule online at http://maxwelllegal.com/consultations.

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