How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Richard Your Own Question
Richard, Attorney
Category: Legal
Satisfied Customers: 55314
Experience:  Attorney with 29 years of experience.
Type Your Legal Question Here...
Richard is online now
A new question is answered every 9 seconds

can you settle a default final judgement by offering your home

This answer was rated:

can you settle a default final judgement by offering your home equity, since a bank can takeover your assets by court only giving your home info fact sheet.

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 5 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 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.

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.

I hope this has given you information that has been
helpful to you. If the information seems more general than specific, please be
aware that we are only allowed to provide information and not specific advice.
If you have a follow-up question, please
remember that there might be a delay between your follow up questions and my
answers because I may be helping others or taking a break.
If you need additional clarification on this
question, please do not hesitate to click Reply and I will be happy to do what
I can to help you further. Thanks for allowing me to be of service to you.
Please be aware that the information provided here is not legal advice. Rather
it is simply general information. All
states have intricacies in their laws and any information given is simply
information only and specifically is not intended to be, nor does it
constitute, legal advice. This communication does not establish an
attorney-client relationship with you. I hope this answer has
been helpful to

Richard and 4 other Legal Specialists are ready to help you