What is judgment proof?

What is judgment proof?

2 Answers

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No one is judgment proof. Anyone can be sued...it is collecting that could be an issue. However some states have a 20 year sol on judgments...things change over years.

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html

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It simply means that a creditor who has a obtained a judgment cannot collect on the judgment because the debtor only has exempt assets.


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