Disclaimer: I am not a lawyer. I am
only publishing my interpretation of my situation. You should seek your
own legal representation for your own particular
situation. Do not rely on my
opinions or statements for your own purposes as state
and local law varies as do individual circumstances.
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So I had a telephone call
with the lawyers representing the condo association. It
was at my initiation as a result of the small claims
court judgment for about eleven thousand dollars
($11,000). My reason was to get information on what
happens next since the condo association now has the
judgment against me. It was a very nice conversation
with the lawyer. If I make a payment on the judgment
amount, I should make it to the law firm who will then
subtract that from the judgment amount. I should not
make payment directly to the condo association unless I
am making payments for the current condo fees. I am not,
however, making those payments as those two condo
properties are in foreclosure and will be going back to
the banks.
One of my biggest
concerns was what the condo association lawyers were
going to do with the judgment now that they have it. The
lawyer said that they will place a lien against any
property that I have in Escambia County Florida other
than any homesteaded property. This is so that if any of
those properties ever sell, any profits first go to the
lien holders and I get what is left. She mentioned
nothing about seizing any other assets such as the house
in Alabama or bank accounts or brokerage accounts or
garnishing wages (which garnishment and my accounts were
the biggest concerns). This is not to say that they will
not seize other assets or my bank account or savings
account or brokerage account or garnish my wages, but
the worry associated with those recourses is now a little bit
further back in my mind. I can breathe a little easier.
Of course, she did mention that this will reflect
adversely on my credit report (can it get much worse?).
This puts my intentions
of liquidating assets at a little slower pace. That is
good as my stock holdings are all way down (very similar
to my real estate holdings although not as great a
decline).
I have a voting page up
so that people can vote on what they think I should pay
off first. Put your vote in. Let me know what you think.
There is also a comment box on the vote page. Thanks. (Voting
page for "What should Noah pay off first?)
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