What happens if you lose a lawsuit and can't afford to pay?
A judgment is only a piece of paper forming a debt. There is no method of enforcement.The creditor can file for garnishment (against your paycheck). But, if you work under the table, there is no way for them to obtain a garnishment. (However, if you ever want to work above board again and you don’t pay this debt, they WILL get the garnishment at the new job. Or, worse yet, the new employer will be served with the garnishment papers and fire you if they don’t want to deal with that hassle.).Likewise, the creditor can file for liens. That means you cannot sell your car until this debt is paid. If you try, the person who buys it will not be able to register the car in their name; giving them cause to file suit against you for fraud (a hefty fine; and jailable offense).So, like I said, it’s just a piece of paper. I’d advise getting it paid off or you’ll be running from it for a lifetime. Or, filing bankruptcy if your financial situation is that dire. Either way, you should address it as soon as you can.
If my bank mistakenly deposits $1,000,000 into my account, am I legally allowed to spend it before they realize their mistake?
Once a bank deposited mistakenly 150,000 in my account, I took it all and when bank sent me a notice, I refused to pay. The bank then collected the money from my other bank account which was with same bank. The bank informed me that how mistake was done. It was due to same debit card number on diffrent accounts. I went to a lawyer and sued the bank 1. Mishandling accounts2. Intention to create negetive credit report (before this incident I tried to apply for a loan and bank refused it since I had bad credit score)3. Agnoy caused. 4. Mental harrasment. The case was judged in my favor and bank needed to pay me another 250,000 as damages. Court also ordered bank to pay 150,000 to the person who lost money and damages of 100,000 Soon after this the bank manager was changed and bank forced closed my accounts giving reason a really bad credit report and as a negetive customer. I again filed a case against them since no bank can deny your account on basis of credit report. Since now this time it was in media, bank settled the case outside the court giving me 500,000 and 250,000 to my lawyer. Later after a year I applied for a loan under certain special conditions and bank approved it without going for in depth investigation. I was unable to pay installment on time so they sent a recovery agent to me who tried to force money illegally, since I have CCTV installed, I had all proofs that it was bank's agent trying to harras me. I sent it all to my same lawyer again and before any case could be filed, a settlement was made in which bank closed my loan and offered me a million dollar as damages. I again applied for loan bank approved it and even I don't pay my installments on time bank never calls me or sends a reminder. You see you need to have presence of mind and a good lawyer.
Can title loan garnish wages?
Not really, the title you used IS the collateral for the loan. If you fail to pay, they can seize the vehicle and sell it at auction to recover their loss. This is why it is called a "Title Loan". If they sell it for less then what you owe, then they can seek civil action to recover the difference in the amount owed and seek a "writ of judgment" from a court. They can not garnish wages in North Carolina, South Carolina, Texas, Pennsylvania and in some cases Florida if you are the sole provider and meet certain requirements.