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socrateaser
socrateaser, Attorney
Category: Bankruptcy Law
Satisfied Customers: 38507
Experience:  Attorney and Real Estate Broker -- Retired (mostly)
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Resolved Question:

I have had approx 5 default judgement over the course of ten years. The debt is all over 10 years old ( I graduate in 01 and should had filled for a chapter 7 but up unitl a few years ago knew nothing about bankruptcy)) Now, 12 years later I make a respectable income but have two kids, one handicapped and am paying for their college while still paying on mine. etc. I payed off three of the smaller judgements over the last 10 years- in full. I knew nothing about how to get them to lower or reduce- i felt helpless. Now I'm on the last two with a protection order from the courts to allow only 100 dollars per paycheck VS the 25% they originally garnished. It's a big judgement- paid over 5 thousand and have 2400 more to go or they will settle with me for 1800 right now and get off my jock but I'd have to cash in my retirement to do so. Problem is- once they are settled with then the last and very huge judgement will kick in/come after me- It's up to ten thousand now. I hate to file chapter 13 now that Ive paid so much of my debt off and have a decent credit score but Im behind on my taxes from 6 years of wage garnishments and a friend of mine told me that if I fille for a chapter 13 now then all the money placed on my current judgement can be given back and adjusted to pay off both of my last judgements. She did it through the courts. I need advice because I dont know what rout to go. I would even pay to have someone help settle my judgements but at lower percent VS filling bankruptcy. I contacted the last law firm/creditor to ask for a reduced settlement offer to see if they will let me settle that last judgement for much less ( Im hoping 50%) but they just keep having representatives call and harase me. They want 80%. I dont want to pay my current judgement off to soon and have no leverage with this last firm. They have submitted every 6 months to my employer a writ but its blocked by my current order. I need help on how to deal with them to get them to settle for less before the current judgements paid and I have no leverage. I want to buy a house and If I file bankruptcy its all over for me. But I cant save- and will owe the IRS and drain my retirement if I cant get a break/reduced judgement and I can forget owning a home in ether scenario.
Submitted: 4 years ago.
Category: Bankruptcy Law
Expert:  socrateaser replied 4 years ago.
A money judgment that is more than 10 years old, unless renewed by the judgment creditor prior to the expiration of the 10-year expiration date, is unenforceable against the judgment debtor. Code Civ. Proc. § 683.020; 683.130.

This may resolve your concerns. If not, let me know.

Hope this helps.

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socrateaser and other Bankruptcy Law Specialists are ready to help you
Customer: replied 4 years ago.
Ok- The judgments are not 10 years old- they were smart. The creditors waited util just before the 7th year (statute of limitiation for CA) of the existing debt to file the judgement. They filled the judgemnts in 07 and 08...so they have time and its as easy for them to resubmit when the 10 years is up. I should had filled a chapter 7 in 01 but didnt. I could let my current judgemnt ride out unitl 2014 but the last creditor will swoop in before the 10 year finish line ( Jan 20015 per the court records). I probably had a chance of vacating if Id gone to court and defended my self but I was going through a lot of hardship at the time, found out my son had autism, millitary duty, custody case going on. I was a mess, deeply depressed and to buisy fighting for custody of my children.
Expert:  socrateaser replied 4 years ago.
Then, you really have only two choices: pay off the debts, if you can reach a settlement with the creditors, or file Chapter 13, and just deal with the fact that you may have to wait another 5 years before you can qualify for a purchase-money home loan.

Hope this helps.

NOTICE: My goal here is to entertain while educating the public about the law. Your positive feedback to the website is appreciated. If you need to contact me again, please put my user id at the beginning of your question ("ToCustomerquot;), and the system will send me an alert. Please Click the following link for IMPORTANT LEGAL INFORMATION. Thanks and best wishes!

Expert:  socrateaser replied 4 years ago.
(inadvertant post -- intentionally deleted)