What it is:
A judgment is a court order to pay someone else a sum ofor other remedy.
How it works/Example:
Let's say John Doe owns a pit
Jane sues John Doe for $3,000 to compensate for the vet bills and pain and suffering. The judge agrees and orders John to pay the $3,000. This order is a judgment against John, and it is usually a matter of public record. If John does not pay the judgment, Jane can ask the court for remedy, which might include the court placing a lien on his assets, garnishing his wages or other actions.
There are different kinds of judgments. A judgment, for example, occurs in favor of the plaintiff when the defendant fails to appear in court to defend himself or does not respond to a summons. A deficiency judgment occurs when the of a seized piece of property does not generate enough to pay the judgment and the court has to place a lien on more property.
Why it matters:
Judgments are reported to credit report as a negative item for seven years. Judgments aren't always monetary, though. A judge could order John to build a higher fence on his property, for example, or take the dog away.agencies and generally stay on a person's