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To set aside a default judgment, the defendant must demonstrate that its failure to answer or otherwise appear and defend was due to excusable neglect under the circumstances and that it has a meritorious defense either to the cause of action itself or the quantum of damages assessed.
To ask the judge to set aside your default judgment, you must file a motion (a formal written request) with the court.
In order to have a Judge Vacate a Final Judgment, you must show Excusable Neglect for not coming to Court sooner, and you must also show a Meritorious Defense. One of the most common reasons the court will grant a motion to vacate final judgment is that you were never served with the Complaint.
After a default judgment has been entered in the court record, the Office of the Special Civil Part will mail you a postcard that shows the date and amount of the judgment entered by the court against the defendant.
Judgment liens have to be satisfied before the property can be sold or refinanced. Second, judgment creditors can levy upon your personal property or bank accounts. Third, your wages can be garnished. Garnishment is when the Court orders your employer to pay a portion of your pay directly to the judgment creditor.

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If you file a motion to vacate a default or a default judgment, you must file an answer to the original complaint along with any cross claims or counterclaims you may wish to assert, and the motion must be accompanied by the appropriate fee.
To ask a court to set aside (cancel) a court order or judgment, you have to file a request for order to set aside, sometimes called a motion to set aside or motion to vacate. The terms set aside or vacate a court order basically mean to cancel or undo that order to start over on a particular issue.

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