Legal Question in Business Law in California

Re: Judgement settlement

There is a long list of exempt property, but the value or amount of such exemptions is not very large. The list is too long, too complex and too full of exceptions and qualifications to repeat on LawGuru. Suffice it to say that if you have one car worth $2,500, the creditor won't take it, but if you have three worth $25,000 each, it's bye-bye.

I do recommend filing (recording) a declaration of homestead on your residence (if you own it) before any judgment is entered. That may not prevent loss of the house, but it may allow you to keep some of the net proceeds of sale (equity).

As Mr. Nelson states, your best approach is to defend against any suit and win, or settle before trial for an just and affordable amount. Many suits and threatened suits by former employers can be defended; the law favors employee mobility and if the suit has anything to do with competition, the law favors that, too.

Misappropriation of trade secrets is a bit more of a problem, but there are many viable defenses for allegations of this kind as well.

Re: Judgement settlement

It is very possible, how much was the judgment? Answer and defend all lawsuits. Contact me directly.

Re: Judgement settlement

Any judgment can be enforced and satisfied by taking any assets in your name, all those you listed, including wage garnishments. You could be forced into bankruptcy in a worst case scenario. Fight the lawsuit or settle reasonably. Consult with counsel to see what your risks of loss are. If you're serious about getting legal help in this, feel free to contact me.

Re: Judgement settlement

Any judgment can be enforced and satisfied by taking any assets in your name, all those you listed, including wage garnishments. You could be forced into bankruptcy in a worst case scenario. Fight the lawsuit or settle reasonably. Consult with counsel to see what your risks of loss, and defenses, are. If you're serious about getting legal help in this, feel free to contact me.