Do I have to give financial information to a debt collector that has won a judgement against me?

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Do I have to give financial information to a debt collector that has won a judgement against me?

Asked on August 2, 2011 New Jersey

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Yes, you have to provide your financial information such as monthly income and bank accounts to a judgment collector that has an unsatisfied judgment against you. Many states have proceedings called "orders of examinations" where the judgment debtor such as you appears in court and then is sworn under oath to truthfully answer questions about his or her assets asked by the judgment creditor.

The purpose of this procedure is to obtain information as to your assets to levy upon your property such as bank and checking accounts to satisfy the judgment against you. If you can make monthly payments to pay down the judgment, you should consider doing this rather than risk levies upon you bank and checking accounts.


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