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Richard
Richard, Attorney
Category: Legal
Satisfied Customers: 45990
Experience:  Attorney with 29 years of experience.
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can you settle a default final judgement by offering your home

Resolved Question:

can you settle a default final judgement by offering your home equity, since a bank can takeover your assets by court order....by only giving your home info fact sheet.
Submitted: 2 years ago.
Category: Legal
Expert:  Richard replied 2 years ago.

Welcome! My goal is to do my very best to understand your situation and to provide a full and complete answer for you.

Can you elaborate a bit more on the default judgment and also on your overall asset situation? Thanks.

Customer: replied 2 years ago.
Hi!....sorry for lack of detail the default is with sallie may.... I have 45 day to fill out all of my asset and my wifes as well. I am a disgruntled retired veteran who was stubborn(bad on my part) because I didn't receive a GI bill for my blood sweat and tears...just wanted a leg up on life when I retired...shouldv'e answered the phone calls sally mae already have two collection agencies garnishing my wages....I have a tier 3 credit report showing where the loan was cleared through their insurance and sold to the collection agencies...I never trusted who I was talking to in the first place reason I wasn't answering the phone.....my asset situation is null except for my 401k and my home Iowe 13,000 plus court fees....can you please help me find a solution.
Expert:  Richard replied 2 years ago.

Thank you! Even though they were awarded a final judgment, you really have nothing to worry about. Florida has an unlimited homestead exemption so they cannot touch your home. Also, retirement account assets, such as your 401k, are exempt and also beyond the reach of creditors. So, whether or not they have the judgment, they can not touch either of your assets. You can either let them know that and let the judgment sit out there, or you can file for bankruptcy protection and get the judgment discharged. In bankruptcy, your homestead and 401k are also exempt and protected.



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Richard, Attorney
Category: Legal
Satisfied Customers: 45990
Experience: Attorney with 29 years of experience.
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