Stop Judgment in St. Louis
When an individual accrues a debt and fails to make the stipulated payments of that debt, companies will often file a judgment against that person in order to obtain money owed. But, what exactly is a judgment? Is there any way to stop judgment in St. Louis? Each of these questions is extremely important when it comes to understanding one’s financial situation and the tools that a creditor has to get their money.
A judgment is a creditor’s way of suing an individual who owes them money. Winning this suit means that they have the power to collect their debt by other means, be it wage garnishment, a lien or a bank account levy. This can be a serious situation for anyone.
Stopping judgment is not impossible. If an individual is in a dire financial situation, they can file for bankruptcy and use the automatic stay to help keep said creditors pursuing a judgment at bay. But, before this option can be considered, it is important for an individual to understand how filing Chapter 7 or Chapter 13 bankruptcy can affect them for years to come. Stopping judgment may seem like an easy answer, but knowing what results from this is key!
With a firm understanding of what a judgment is and how you can potentially stop judgment in St. Louis, it is important to take the first steps. The smartest first step is to contact a professional attorney with experience in bankruptcy, and ask if this is a viable option in your situation. The staff at Teague & Associates, LLC is standing by waiting to schedule a free consultation for you with their experienced attorney, all you have to do is call (314) 899-4499.