I owe money to a finance company and they have filed a suit against me, what will happen when they win?
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I owe money to a finance company and they have filed a suit against me, what will happen when they win?
Asked on November 13, 2011 under Bankruptcy Law, Kansas
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Assuming the finance company wins the lawsuit against you, a judgment will be entered against you. The finance company will want to get paid on its judgment against you. In order to get paid, the finance company may have a wage garnishment on the money you are making from your employer to pay down the judgment and/or levy upon your bank account to grab money to pay down the judgment that you may be held accountable for.
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