If a creditor has a judgement against you but you have agreed to payment terms, can it still levy against your property?

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If a creditor has a judgement against you but you have agreed to payment terms, can it still levy against your property?

I have a consent judgment filed against me for a credit card debt that I owe. While I agree to the payment plan and terms, does the creditor now have rights to my property (i.e. a lien against my home)?

Asked on May 6, 2011 under Bankruptcy Law, Louisiana

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

If you agreed to a payment plan and terms offered you (e.g. you have signed a consent judgment) and you also have been honoring those terms, then the creditor should not be able to put a lien against your home (unless, that is, the payment plan itself allowed for a lien).

However, if either 1) you had rejected initially an offer of a payment plan, or 2) you had accepted a plan, but then defaulted on or breached, even in a small way, it's terms, the creditor can look to other remedies, such as seeking a lien on your property. You don't have a right to reject a plan or settlement, then go back to it later; and you also have no right to enforce the plan once you breach it.


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