Legal Question in Civil Litigation in North Carolina

Hello,

I have a question about a confession of judgement that I signed along with an agreement to pay $50 per month on a $16,000 debt from a rental car that was totaled w/o insurance. Anyhow, the question is what exactly happens should I not be able to make a payment & their lawyer turns in my confession of judgement?

Thank you, Myah


Asked on 7/02/11, 10:41 am

1 Answer from Attorneys
Jeff Rosner Rosner Law Firm P.A.

Then you will have a judgment against you. The creditor would not need to sue you or take any further action to obtain the judgment. Once it is recorded, they would give you notice and you would have the ability to claim any exemptions you are entitled to under North Carolina law (for example, a car up to a certain amount). After which, they can send the Sheriff to execute on your non exempt property. If you have very little assets, then there may not be much the creditor can do to collect. It is extremely important that you fill out the form to claim your exemptions within 20 days of service and file it with the court along with a copy to the creditor's attorney.

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Answered on 7/03/11, 7:31 am


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