Legal Question in Credit and Debt Law in Texas
Judgement
My husband and I started a business
and signed a lease contract for space
for 3 years. We only lasted in that
location for 9 months. the building
filed a judgement for 250,000 dollars
and then plowed down the strip
center and built a large national
chain fitness center. Is there any
way we can have the judgement
removed or reduced? We will never
be able to pay this amount and there
is a judgement against our home and
on our credit report. Any ideas?
1 Answer from Attorneys
Re: Judgement
The fact that the nature of the property has changed does not effect the judgment. How did you let them take a $250,000 judgment? Didn't you have a lawyer? Now you have yourself in a real mess. Your credit is going to be messed up until you get them to accept some money and release the judgment. I would presume that it would take 6-figure money. You might be able to take bankrupcty. Now would be a good time to see a lawyer. Good Luck.