Helpful tips

Can a judgment be entered against a partnership?

Can a judgment be entered against a partnership?

However, ” [a] judgment entered against a partnership in its firm name is enforceable only against property of the partnership and does not constitute a lien upon real estate other than that held in the firm name.

What makes a partnership liable for a judgment lien?

Generally, the Act defines two types of partnerships: general partnerships and limited liability partnerships. For the most part, the type of the partnership determines the liability of the partners for judgment liens.

Can a person be sued but they are judgment proof?

Many people who receive a notice of a pending lawsuit for defaulted credit card may have heard that the opposing party can’t win because they are “judgment proof”. This question comes up all of the time – “I’m being sued but I’m judgment proof – do I need to do anything?”

Do you need to do anything if you’re being sued?

This question comes up all of the time – “I’m being sued but I’m judgment proof – do I need to do anything?” The answer is definitely YES! The majority of lawsuits filed against consumers for defaulted credit card debt comes from collection agencies.

Is it a mistake to represent yourself in a lawsuit?

Without getting into all of the reasons why representing yourself in a lawsuit is a mistake, and there are many, be aware that the laws in some states, such as New York, require that an attorney appear on behalf of a corporation that is a defendant in a lawsuit.

What happens if you ignore a lawsuit against you?

Lawsuits must be taken seriously. Regardless of how frivolous or inconsequential the lawsuit might seem to be, ignoring it can have serious consequences. Failing to file a formal, written answer to the allegations contained in the lawsuit can result in a default judgment against you in favor of the opposing party.

Do you fight over principle in a lawsuit?

Fighting over principle can get expensive and distracting. Whether you are the defendant being sued or the plaintiff who started the lawsuit, at some point you have to consider exactly what it is that you are fighting about. Does defending or prosecuting the lawsuit make sense economically?

What happens if a judgment is issued against you?

If the court issues a judgment against you, the creditor or injured party may take several steps to recover the judgment amount, plus court costs and attorney fees. You may be subject to garnishment of wages, as well as amounts held in bank accounts in your name. You may also lose personal property and real estate you own.