Can the loan company take my property with the Civil Consent Judgment I signed?
Full Question:
I defaulted on an unsecured signature loan and after several attempts to arrange payment arrangements with the finance company I was finally sued for $10,000 last fall.
I hired an attorney who continued to try negotiations with the company with no success. I looked at bankruptcy but that did not work out. I finally ran out of cash to pay my attorney to continue; so, the suggestion was made that I enter into a Civil Consent Judgment and all would be over.
I figured out as Head of Household I could only get 10% of my wage garnished. I felt I could live with that so I signed.
Now I am hearing horror stories of banks that have grabbed bank accounts, cars, property etc. No equity to speak of in my home and wife and I own 2 used cars best one of the two is worth around $3,000.
What can I expect as the next step besides the garnishment? We can't lose our cars and I don't want furniture being carried out by a Sheriff, etc. I am really sick with worry! Now, I wonder if I should have signed this?
I had a court date set; but now with documents I signed, I wonder if it will still go to court. And, if so, should I at least be there?
04/27/2007 |
Category: Civil Actions |
State: Missouri |
#3371
Answer:
If you don't appear in court, a default judgment may be entered. Please see the information at the following links:
http://definitions.uslegal.com/h/homestead/
http://definitions.uslegal.com/c/civil-procedure-default/
http://www.missouribankruptcy.com/exemptions.html