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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] There's a great difference between a judgment and an AJ Posted by Ward-CA- on October 30, 2003 at 1:11 PM In Reply to: Re: Almost bulletproof.... posted by phil - CA on October 30, 2003 at 12:32 AM : : So by avoiding the payment of the AJ the judgment debtor couldn't buy, refinance or resell his real property without paying off the judgment, which incurs annual interest of 10%. : : Perhaps you'd now agree that buying judgments owed by property owners is fairly fool-proof, right? : ================ : No. For example credit card companies spend tens of millions trying to collect from deadbeats. What factor would increase the likelyhood that the debtor satisfies the judgement. How would they pay the judgement, with rocks? It seems they could care less about a stain on their credit. Indeed, paying off any debts. Please explain. ================== Phil, Wow, I've told you the factor that makes the difference. An abstract of judgment that's secured by real property is the difference. Credit card debt isn't secured by anything unless the creditor processes the debt to a recorded AJ and the debtor owns real property that the AJ can automatically attach to. Does this clear it up for you? Follow Ups: Re: There's a great difference between a judgment and an AJ Stephen - CA 1:32 PM, 10/30/03 (1) It's always good, it never changes... Ward-CA- 6:01 PM, 10/30/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : : So by avoiding the payment of the AJ the judgment debtor couldn't buy, refinance or resell his real property without paying off the judgment, which incurs annual interest of 10%. : : : Perhaps you'd now agree that buying judgments owed by property owners is fairly fool-proof, right? : : ================ : : No. For example credit card companies spend tens of millions trying to collect from deadbeats. What factor would increase the likelyhood that the debtor satisfies the judgement. How would they pay the judgement, with rocks? It seems they could care less about a stain on their credit. Indeed, paying off any debts. Please explain. : ================== : Phil, : Wow, I've told you the factor that makes the difference. : An abstract of judgment that's secured by real property is the difference. : Credit card debt isn't secured by anything unless the creditor processes the debt to a recorded AJ and the debtor owns real property that the AJ can automatically attach to. : Does this clear it up for you? Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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