What makes a person "Judgement - Proof"?

[SoylentGreen]

Hey Oscar,

I'm sure that more than a few young people have been caught up in the trolling of Getty and Masterfile.

If such a young (or any person for that matter) has no real assets, and is not presently working, would those conditions make the individual "judgement-proof"?

In such as scenario, would it even make sense for someone like this to even attend the court date?  Would the plaintiff ever be able to collect anything even if they prevail in court?

S.

[Oscar Michelen]

The problem with trying to make yourself judgment proof is that judgments can be on file a long time. 20 years or more in some states. So while you may not care now that you have a judgment against you, you may care10 or 15 years from now.
So if you ignore a lawsuit and you get a default judgment against you that will effect your credit rating and  ability to get a loan mortgage etc. Judgment proof just means not having any property or assets that a creditor can collect. Some states like Florida have a homestead exemption so that your primary residence is exempt from collection, but most states (NY included) don't have a true homestead exemption.  It also means not having an income that they can garnish (take ten percent of). I would advise that making yourself "judgment proof" is really a last resort.  Its better to face the challenge and fight than to have to make sure you remain without a pot to pee in your whole life

[SoylentGreen]

Oscar,

Thanks for the sound advice here.  I would imagine that some folks were wondering about this.

I don't want to say too much, as to give others ideas that might not be so good.  But, I suspect that there are some who will never really pay if they lose in a litigation. That is, those having credit that's already marginal and whose court judgement is low enough that the price of serious (in-court) collection efforts would far outweigh any gain to be had.

S.

[Oscar Michelen]

Yes certainly SG. And in numerous conversations with lawyers for the digital image warehouses I have told them that a paper judgment with no collectibility is likely result.