Bankruptcy Law Questions? Ask a Bankruptcy Lawyer Now.
1) Yes - it is common for judgment creditors to attempt to collect from a judgment debtor who has moved out of state.
2) A judgment can be renewed "at any time before the expiration of the10-year period of enforceability". California Stat. 683.130(a). It would not make sense to renew early, as doing so will be a waste of effort if the debtor does satisfy the judgment, but the Chase can renew their judgment now.
3) Large creditors - such as Chase - almost always renew judgments.
not good. so basically I'll have to be in hiding (have no real estate/cars/bank accts )for life with these two judgments? otherwise, they'll be sitting in the background waiting to pounce.
probably best option to settle for reduced amount since I don't want to have scar of bankruptcy.
Final follow up: sorry for so many questions. I ask my NEW easy ones to you.
Are there minimum amounts of value protected from being levied/taken/etc?
For example, I have $1,000 in bank acct - can that be taken? I have car worth $3,000 can that be taken?
Thank you I'm done w/ questions.
Here is a list of property that cannot be taken by creditors:
704.010 - Motor vehicle or auto insurance if vehicle lost, destroyed or damaged up to $2,725. 704.020 - Food, clothing, appliances and furnishings.704.040 - Jewelry, heirlooms and art up to $7,175 total (spouses may not douoble).704.050 - Health aids.704.140 & 704.150 - Personal injury causes of action and wrongful death causes of action. Wrongful death and personal injury recoveries that are needed for support.704.200 - Burial plot.
Money in bank accounts can be taken without warning at any time.
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