Legal Question in Credit and Debt Law in California

Re: Abstract of Judgement

A creditor will obtain a judgment that includes principal, prejudgment interest and court costs.

once a judgment is obtained the creditor will usually record an abstract of judgment in any county where you own property. this abstract of judgment creates a lien against any property owneed at time recorded or obtained after in the county of recordation. If you go to refi, purchase or sell a property it will show up in the chain of title and need to be taken care of.

in order to get loan.

Also if the creditor has a valid POE or proof of employment they may conduct a wage garniishment satisfy debt which will add post judgment costs for issuance of writ and service of garn on employer.

The creditor may also try to conduct a bank levy which will incur additional post judgment court costs.

Creditor is also entitled to 10 percent interest per year from the date of entry of judgment.

Re: Abstract of Judgement

Interest accrues. Usually if you were to refinance or sell the home to which the judgment attaches, the escrow agent will ask for a demand. Then, your agent or you could try to negotiate it down.

Re: Abstract of Judgement

The short answer is yes -- interest continues to accrue on the judgment at the rate of 10%, plus there may be additional costs added to the judgment, such as the costs the creditor has incurred in attempting to recover the judgment, and possibly attorney's fees.

If you need some counseling on the effects and consequences of a judgment, please feel free to call me.

Re: Abstract of Judgement

The judgment creditor is entitled to collect 10% interest on the amount of the judgment. The judgment creditor can also collect certain judgment collection expenses such as the $15 fee paid to get the asbtract from the court or the recording fee.