Legal Question in Credit and Debt Law in Iowa

Judgement

recently I received court documents from the sherrif regarding a loan in wich I was 3 months behind in paying. It looks like they were suing me for the entire balance. I called the company in wich I have the loan and tried to work things out without going to court. They agreed to let me pay the past amount and then continue to make my monthly payments but I will have to sent them to the lawyer that is representing them. I was fine with this. She then went on to tell me that she would contact the clerk of courts to let them know that we worked it out and would not need to go to court. Then she said that there is a judgement against me that would disappear after the loan was paid off. I am wondering just what this judgement means and how it will affect my credit. Thank you


Asked on 6/30/05, 8:20 pm

1 Answer from Attorneys
Gerald Hershenson Law Office of Gerald M. Hershenson

Re: Judgement

The judgement will effect your credit. You should have hired an attorney to assist in the negotiation. The creditor took advantage. If you default in the payment arrangement they can attach your personal property or bank account. Suggest you consult an attorney immediately. Gerald Hershenson Esq. 215-579-9390

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Answered on 7/01/05, 6:15 am


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