How does a creditor get a judgment?

In Louisiana, creditors can take legal action to get unpaid debts repaid through a process called obtaining a judgment. A creditor must file a lawsuit in court to obtain a legal judgment, which is a document issued by a court stating that a debtor owes a certain amount of money to a creditor. The debtor must then be served with a copy of the lawsuit, which outlines the amount of money the debtor owes and the reasons for the lawsuit. The debtor is then given a certain amount of time to file a response, which can be an admission or denial of the debt. If the debtor fails to file a response in the allotted time, the creditor can apply to the court for a default judgment. This is an automatic ruling in favor of the creditor that requires the debtor to pay the money they owe. If the debtor responds to the lawsuit, then the court will schedule a hearing to determine whether the creditor is entitled to receive the money they are requesting. The debtor can present a defense at the hearing, such as a claim that the debt was already paid. If the court determines in favor of the creditor, then a judgment will be issued requiring the debtor to pay the amount of money specified in the judgment. Once a judgment is issued, the creditor can take legal action to collect repayment from the debtor, such as wage garnishment.

Related FAQs

What is a guarantor?
What is a debt consolidation?
What is a debt management plan?
What are the rules for debt collection in different states?
How is a bankruptcy discharge determined?
What is debtor and creditor law?
What are the advantages and disadvantages of debt settlement?
What are the duties of a creditor?
What are the risks associated with debt consolidation?
What is the statute of limitations for judgments?

How does a creditor get a judgment?

Related FAQs

Related Blog Posts