Then you are judgment proof.
The term judgment proof
is most commonly used in tort
and contract law contexts to refer to defendants
or potential defendants who are financially insolvent
. Even if a plaintiff
were to secure a legal judgment
against an insolvent defendant, the defendant's lack of funds would make the satisfaction of that judgment difficult, if not impossible, to secure.
In such cases plaintiffs
might move for wage garnishment
based on the judgment. However, if the debtor is living on income from social security
benefits, a retirement pension, or other social welfare
, then this may not be possible, as such income is often subject to legal protections against garnishment by creditors.
The term is a bit of an oxymoron (contradiction in terms), because the creditor can sue you and get a judgment -- it just cannot collect on the judgment.
You don't have any income or assets that the judgment creditor can collect on.
So, if they won't make some agreement with you to allow you to pay $20 or $30 per month for just 2 or 3 years (don't agree to anything more) which will completely satisfy the debt - then do nothing because there is nothing they can do to you.
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