Is a Judgement the same as a lien?

The easy definition is that a judgment is an official decision rendered by the court with regard to a civil matter. A judgment lien, sometimes referred to as an “abstract of judgment,” is an involuntary lien that is filed to give constructive notice and is to attach to the Judgment Debtor’s property and/or assets.

How long does it take to get paid after a settlement?

Depending on your case, it can take from 1 – 6 weeks to receive your money after your case has been settled. This is due to many factors but below outlines the basic process. If you have been awarded a large sum, it may come in the form of periodic payments. These periodic payments are called a structured settlement.

Can a credit card debtor enforce a property lien?

Regardless of the chances of foreclosure on a residence for credit card debt, every state has its own rules about property liens, so debtors with a judgment against them who own property should review their state’s laws to learn creditor can and cannot do to enforce its judgment.

Can a judgment creditor execute on a lien?

Generally, a judgment creditor with a lien gets paid when the debtor sells or refinances the home. But if the creditor chooses not to wait for a sale or refinance, the creditor can execute on the lien by asking a court for permission to sell the debtor’s real estate.

What happens when a judgment is entered on a credit card?

A judgment is an order entered by a court of law indicating the court’s findings. A judgment gives the creditor the right to use additional collection methods to collect the debt owed to them.

Can a judgment creditor force the sale of your property?

In some cases, the judgment creditor can force the sale of your property in order to get paid. (Find more articles about property and judgment liens .) The judgment lien is created when a copy of the judgment is recorded in the county land records or, in some states, it is created automatically when the court enters the judgment.