If someone has a deficiency judgment and then inherits a substantial sum, can creditors go after them?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If someone has a deficiency judgment and then inherits a substantial sum, can creditors go after them?
Asked on June 12, 2012 under Bankruptcy Law, Illinois
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Yes, assuming there is any kind of a judgment against a person be it a deficiency judgment or not, the judgment creditor can seek to levy upon the judgment debtor's assets and garnish his or her wages to satisfy the judgment.
In the situation that you are writing about, the inheritance that the judgment debtor received would be subject to levy by the judgment creditor.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.