Legal Question in Credit and Debt Law in Georgia

At least 2017 and potentially a LOT longer if they renew the fi fa. This will not go away and one day, they will grab your wages, bank account or property. You need to see a lawyer and weigh options including bankruptcy.

I agree with Attorney Ashman. Judgments last FOREVER. However, for execution purposes, a judgment against real and personal, property lasts for 7 years unless its revived. That does not mean that you don't owe the debt. Its just that the judgment cannot be enforced.

You need to think about resolving the judgment in some way, whether via bankruptcy or settlement, depending on what you own and owe. While you have no property, do you have a bank account or other assets owned free and clear? They can be seized. If you work, your wages can be garnished.

Georgia only offers very limited exemptions from the FiFa - $5,000 in personal property and $21,500 in real property that you use as a residence. There is a procedure to claim these exemptions and there is no form.

If this debt or a combination of your debts is over $10,000, you may want to consider bankruptcy. If less, and if you have the means to save up to resolve, then maybe settlement is the way to go. Who is the law firm representing Capital One? Frederick J. Hanna? They will accept a settlement of the debt, although post-judgment settlements usually have to be paid in a lump sum and they will accept, on average, between 50% and 80%. Do you have that much? The judgment has increased - it earns interest.

But this all requires you to sit down with an attorney to evaluate your options. If you are interested in resolving the debt in a non-litigation, non-bankruptcy context, the please contact me at [email protected].