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What does it mean to be Judgement proof in Florida?

Judgment proof refers to a situation where a civil monetary judgment creditor cannot collect any of a debtor's assets or income. Many judgment debtors aspire to be judgment-proof through asset protection planning. But asset protection will not make you judgment proof in Florida.

How do I get Judgement proof in Florida?

There are 2 basic ways in which someone can find him or herself effectively judgment proof in Florida. Exemption of the asset because of the status of the asset itself and exemption of the asset because of the status of the individual who owns or controls it.

What happens if you have a Judgement against you in Florida?

If a judgment is entered against you by a court, your wages or bank account may be taken from you to pay the judgment through legal proceedings called garnishment and attachment. Through a process called execution, a creditor can collect money owed under a judgment.

How many years does a Judgement last in Florida?

A judgment is good for 10 years and Florida allows a creditor to \u201crenew\u201d a judgment before the expiration of the 10 years for an additional 10 years, thus giving a judgment almost unending life.

What is a notice of garnishment Ontario?

If someone else owes the debtor money, you can ask the court to order that person to send the money to the court office. The court will then pay you. This is called garnishment.

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