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Roger, Attorney
Category: Business Law
Satisfied Customers: 31591
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: 11 months ago.
Category: Business Law
Expert:  Roger replied 11 months ago.

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

Expert:  Roger replied 11 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 11 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 11 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!