Is a judgment for a student loan, the same as student loan company placing a lien against my property. ?
June 26, 2010 by admin
Filed under Student loans
I just found out Student loan company filed a lawsuit, which I missed the court date, and now I have a judgment against me. I did not see a lien against my property, but is it possible that a judgment is still there?
It is up to the lender with the judgment what they want to do with it. I would be more concerned about them freezing my checking account or garnishing my wages before I would worry about liens on property. You need to contact them and work out some kind of arrangement before they decide to just take the money.
If you “just” found out, then you have the opportunity to have the judgment set aside for lack of proper service. Hire an attorney very fast to eliminate the judgment.
If you don’t, you will owe the money forever. Your wages will be garnished; your properties will have liens placed against them (and properties includes houses, cars, motorcycles, boats, airplanes, etc. )
yes this is still possible. the judgment is still on your credit and student loan debt will almost is all cases never be forgiven. what i would recommend you doing is begin paying on your student loans because if You don’t they can take all the money out of your bank account, depending on what state you live they can take money out of your legal spouse’s account. they can seize property too. before they begin seizing property that typically takes a while. but yes they can and they will seize your home if you do not pay your student loan back.
If they received a default judgment you may still be able to get it vacated by showing cause as to why you missed your court date, ie, they failed to notify you or illness on your part, talk to an attorney,
Barring that, one they record the default, it will be found by anybody doing a title search on your property,
A judgment and a lien are not the same thing. If they have judgment against you it means they won the law suit and you do owe them the money and anything else they asked for in the law suit since you were not there to dispute it in court.
They have to have judgment against you before they can take out a lien. More than likely that will be the next step they take. Check back in a few months and it’ll probably be there.
Why don’t you just repay the student loans and then you wouldn’t have to worry about all this. A lien on your property can cost you a lot more than just paying back the money that you owe.
If you in fact just found out about the lawsuit it would appear you were not properly served. A lawsuit requires a complaint to be filed with the court by the plaintiff. You have 30 days from the date of service upon you of the complaint (personal sevice) to respond in writing your answer to complaint with the court. If you fail to answer the complaint within this time frame a default judgment can be entered against you. Whatever the plaintiff request in the complaint will be granted. Generally, no court date is set before you answer the complaint.
If you answered the complaint a hearing date is set. If you fail to appear then the penalty is to grant a judgment against. If you missed the court date for good cause you must file paperwork to set aside or vacate the judgment. If the judge agrees that you had good cause for missing the court date he may at his/her discretion set aside the judgment and give you an oppportunity to be heard.
Judgment creditors have generally 3 ways to collect on a judgment. 1) attaching bank accounts, 2) garnishing wages and 3) liens against property. They can employ any one of the 3 or all in their efforts to collect. They must however follow state law in pursuing their claim. Seek the advice of an attorney in your state. There may be certain exemptions in your state that would apply but you have to affirmatively pursue them. Alternatively, you can contact the creditor and attempt to work out a repayment plan. These plans are generally called forbearrance agreements. As long as you abide by the agreement they won’t implement the collection process they are entitled to.
Student loans are generally not dischargeable in bankruptcy absence a showing of extreme hardship a very high threshhold to meet
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