Legal Question in Credit and Debt Law in Wisconsin

A judgment of this type is normally dischargeable in bankruptcy, so your first move should probably be to consult with an experienced bankruptcy lawyer. If you get it filed soon enough, you will no longer need to fill out the financial disclosure form. However, if you do not fill it out and return it, the creditor can move to have you held in contempt of court, which can eventually lead to jail confinement. Of course, $1800 alone would not alone warrant a bankruptcy filing. However, from your comments about your financial situation, I am guessing that this may not be your only financial problem. Creditors are under no legal obligation to accept an installment payment plan; they can pursue the entire amount and use all post judgment remedies against you. These can include foreclosure of a home, although that is relatively rare. Judgments do, however, create the rough equivalent of a second mortgage lien upon your home once the judgment is docketed, meaning that that you cannot sell your home or refinance it without permission of the creditor. They can also garnishee wages which may require an employer to remove 25% of net wages from your check to pay your debts, which garnishment can continue until the debt is paid in full. Judgment creditors can also garnishee bank accounts and seize other assets. My comments in this online forum are offered for public educational purposes only and are not legal advice, nor do they create any attorney/client relationship between us. However, I may be able to formally represent you if you contact my Racine office and make arrangements to retain me. I also represent clients throughout the state of WI.