Define: Personal Judgment

A personal judgment is a legal decision made by a court that holds an individual liable for a debt or obligation. It typically requires the person to pay a specified amount of money to the creditor.

A personal judgment is obtained through a legal process known as a lawsuit. The creditor files a complaint against the debtor, and if the court finds in favor of the creditor, a judgment is issued.

Yes, a personal judgment can negatively impact your credit score. It becomes a public record and can be reported to credit bureaus, making it difficult to obtain credit in the future.

Yes, a personal judgment can be enforced through various means, such as wage garnishment, bank account levies, or property liens. The creditor can use these methods to collect the money owed.

Yes, a personal judgment can be appealed if there are valid grounds for appeal, such as errors in the legal process or new evidence that was not considered during the initial trial.

The duration of a personal judgment varies depending on the jurisdiction. In some states, it can last for several years and can be renewed if necessary.

In some cases, a personal judgment can be discharged in bankruptcy. However, certain types of debts, such as those related to fraud or intentional wrongdoing, may not be dischargeable.

A personal judgment itself may not directly affect your employment. However, if the creditor seeks wage garnishment, your employer may be notified and required to deduct a portion of your wages to satisfy the judgment.

Yes, it is possible to negotiate or settle a personal judgment with the creditor. This may involve reaching a payment plan or agreeing to a reduced amount to satisfy the debt.

In some cases, a personal judgment can be removed from your record if it was obtained improperly or if you successfully appeal the judgment. However, it is generally challenging to have a valid judgment removed from public records.