It can be financially devastating to have a vehicle or other item repossessed, not to mention embarrassing! The repercussion of repossessed items can mean different things to different people. Repossession of a vehicle usually means loss of freedom to the owner. Repossession (foreclosure) of a home can mean the loss of family memories. Beyond these emotions, a repossession will trigger the downward spiral of your credit score!
Should Judgments Be Paid?
February 16, 2010 By
The short answers is, yes, you should absolutely pay a judgment. There is an exception, though, if you feel that a “Motion to Vacate” is applicable. If your judgment is vacated due to a Motion to Vacate, you will not be legally obligated to pay the debt. However, with regard to the contract, you may still be liable.
