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This is called a default judgment, and the plaintiff (the person suing you) can then pursue legal means to collect the money from you. If you do not agree that you owe the money and you want to defend the claim against you, you should appear in court on the day noted on the summons and present your side of the story.
There are several ways to collect your judgment. You may be able to get the losing party to pay you voluntarily either all at one time or in installments. If he/she will not pay you voluntarily, you may start collection proceedings on forms provided by the Clerk of the Small Claims Court. Small Claims Guide - Missouri Courts - MO.gov mo.gov ? hosted ? circuit13 ? forms mo.gov ? hosted ? circuit13 ? forms
A Missouri judgment is valid for ten (10) years from the latter of (1) the date of entry of the judgment or (2) the date that a plaintiff last successfully tried to execute on the judgment as reflected by a Court record.
28 U.S.C. § 1963 provides: A judgment in an action for the recovery of money or property entered in any court of appeals, district court, bankruptcy court, or in the Court of International Trade may be registered by filing a certified copy of the judgment in any other district . . . Instructions, Form B265 - U.S. Courts US Courts (.gov) ? file ? download US Courts (.gov) ? file ? download PDF
Rule 74.06(b) states: On motion and upon such terms as are just, the court may relieve a party or his legal representative from a final judgment or order for the following reasons: (1) mistake, inadvertence, surprise, or excusable neglect; (2) fraud (whether heretofore denominated intrinsic or extrinsic), ...
And some states also allow judgment liens on the debtor's personal property -- things like jewelry, art, antiques, and other valuables. In Missouri, a judgment lien can be attached to real estate only (like a house, condo, or land).