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Judgment Against Property With Bad Credit In Pennsylvania
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State:
Multi-State
Control #:
US-0025LTR
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Word;
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FAQ
In Pennsylvania, if a creditor sues you and obtains a judgment, it can become a lien against your home or other real property. (If the judgment is from another county, the creditor would need to transfer it to your county.) However, a creditor without a judgment cannot lien your property.
Can Personal Property Be Seized In A Pennsylvania Judgement? Judgments from Magisterial District Court and Court of Common Pleas. A plaintiff can seize tangible personal property which are items such as household furnishings, jewelry, and business and office equipment.
--The following personal property of the judgment debtor shall be exempt from attachment or execution on a judgment: (1) Wearing apparel. (2) Bibles and school books. (3) Sewing machines belonging to seamstresses or used and owned by private families, but not including sewing machines kept for sale or hire.
In Pennsylvania, if a creditor sues you and obtains a judgment, it can become a lien against your home or other real property. (If the judgment is from another county, the creditor would need to transfer it to your county.) However, a creditor without a judgment cannot lien your property.
Traditional Asset Protection Techniques Also, as long as you hold funds in qualified employer-provided retirement plans or in IRAs, your creditors generally cannot reach these funds. Pennsylvania law also provides protection for life insurance policies and annuities.
Can Personal Property Be Seized In A Pennsylvania Judgement? Judgments from Magisterial District Court and Court of Common Pleas. A plaintiff can seize tangible personal property which are items such as household furnishings, jewelry, and business and office equipment.
More info
See below for answers to common questions about debt and judgment collection and how to protect yourself from aggressive debt collectors. Step 1 to collect a judgment in Pennsylvania is to file and record the judgment in each and every county where the debtor resides or owns real property.In Pennsylvania, a property lien can be used to collect a court judgment. Here's how it works. When the lender files its lawsuit for a deficiency judgment, it must ask the court to determine the property's fair market value. In Pennsylvania, several types of liens can be placed on real estate. These include mechanics' liens, tax liens, judgment liens, and mortgage liens. A judgment will show up on credit reports and will be a matter of public record. This will be a problem for any judgment debtor attempting to borrow money. The creditor must then levy on the debtor's property or attach debts owing to him.
