Hello Louis....You should have been notified of the filing of a suit against you. The client is entitled to file for a judgment unless the agreement you entered into with him specifically provides that as long as you are paying under the monthly agreement he won't file a judgment. The judgment, however, really doesn't hurt you as long as he doesn't do anything to collect on the judgment like attaching your assets or garnishing your wages. Sorry about the interest accrual, but he is entitled to interest on the judgment amount. If you are basically judgment proof...meaning you have no assets other than exempt assets such as homestead, retirement assets, etc....you might consider a bankruptcy filing to have this judgment discharged.
I hope this has given you the guidance you were seeking. I wish you the best of luck!
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The information given here is not legal advice. As all states have different intricacies in their laws, the information given is general only. This communication does not establish an attorney-client relationship with you. I hope this answer has been helpful to you.
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