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Roger
Roger, Attorney
Category: Business Law
Satisfied Customers: 31009
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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I have been paying monthly payments on a judgement against

Customer Question

I have been paying monthly payments on a judgement against me since 2012 to an insurance carrier related to a past business I once owned. i am running out of money and am really starting to worry about what will happen if I default or need to reduce what I feel I can afford.
JA: Because laws vary from state to state, could you tell me what state is this in?
Customer: Maryland
JA: Have you talked to a lawyer yet?
Customer: No, not since the judgment December 2012.
JA: Anything else you think the lawyer should know?
Customer: no
JA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Corporate Lawyer about your situation and then connect you two.
Submitted: 5 months ago.
Category: Business Law
Expert:  Roger replied 5 months ago.

Hi - my name is ***** ***** I'll be glad to assist.

Expert:  Roger replied 5 months ago.

Judgments are valid and enforceable for 12 years under MD. Cts. & Jud. Proc. §5-102(a)(3).....and they're usually renewable after that, so there's not much hope to wait out the judgment's enforceability.

Expert:  Roger replied 5 months ago.

Instead, the only real option is to contact the creditor, inform it that you can't continue to make payments as you've previously done and ask for a re-structure of your repayment plan.......and the alternative to that would be to file bankruptcy and have the debt discharged as an unsecured debt. This may actually be a better option if the debt is significant as bankruptcy will rid you of the obligation to repay this debt.

Expert:  Roger replied 5 months ago.

Please let me know if you need anything further. Also, please take time to positively rate our conversation so I may receive credit for assisting. Thanks again!