Tennessee Motion to Pay Judgment by Installments

State:
Tennessee
Control #:
TN-SKU-0339
Format:
PDF
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Description

Motion to Pay Judgment by Installments Tennessee Motion to Pay Judgment by Installments is a legal procedure in which a debtor may ask a court to order an installment payment plan for a judgment debt. This Motion seeks to allow the debtor to pay off a debt over a period of time rather than in a lump sum. The debtor is required to provide financial information, such as income and expenses, to the court so that the court can determine if the debtor has the ability to pay back the debt. If the court approves the Motion, the judgment creditor must agree to accept the installment payments in full satisfaction of the debt. The two types of Tennessee Motion to Pay Judgment by Installments are Installment Payments and Suspension of Collection. Installment Payments involves a payment plan with a fixed monthly payment amount and a set end date for the payment plan. Suspension of Collection involves a payment plan that suspends the collection of the judgment debt for a predetermined period of time, usually a year. At the end of the period, the judgment creditor can resume collection of the debt.

Tennessee Motion to Pay Judgment by Installments is a legal procedure in which a debtor may ask a court to order an installment payment plan for a judgment debt. This Motion seeks to allow the debtor to pay off a debt over a period of time rather than in a lump sum. The debtor is required to provide financial information, such as income and expenses, to the court so that the court can determine if the debtor has the ability to pay back the debt. If the court approves the Motion, the judgment creditor must agree to accept the installment payments in full satisfaction of the debt. The two types of Tennessee Motion to Pay Judgment by Installments are Installment Payments and Suspension of Collection. Installment Payments involves a payment plan with a fixed monthly payment amount and a set end date for the payment plan. Suspension of Collection involves a payment plan that suspends the collection of the judgment debt for a predetermined period of time, usually a year. At the end of the period, the judgment creditor can resume collection of the debt.

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Tennessee Motion to Pay Judgment by Installments