{"id":6194,"date":"2017-02-16T16:55:23","date_gmt":"2017-02-16T16:55:23","guid":{"rendered":"http:\/\/www.racinelaw.net\/?p=6194"},"modified":"2017-02-16T16:55:23","modified_gmt":"2017-02-16T16:55:23","slug":"judgments-including-based-fraud-not-always-avoidable-bankruptcy","status":"publish","type":"post","link":"https:\/\/www.racinelaw.net\/blog\/judgments-including-based-fraud-not-always-avoidable-bankruptcy\/","title":{"rendered":"Some Judgments, Including Those Based on Fraud, Are Not Always Avoidable Through Bankruptcy"},"content":{"rendered":"

By Joseph G. Ballstaedt<\/a><\/p>\n

When deciding whether to sue a person or entity, you must be aware that the person or entity may not be able to pay a judgment awarded by a court or may be able to avoid paying the judgment, even if it has the means to pay. A resounding victory in court is utterly worthless if the opposing party is “judgment proof”<\/a> because it has no assets, little equity in a home or other real property, minimal personal property, no job or source of income, etc. Similarly, even if a party has enough assets to satisfy the judgment, it can hide the assets. Also, a party can file for bankruptcy and be discharged from many of its debts, including most types of civil judgments, leaving a party to fight in bankruptcy proceedings for recovery. Many parties use the threat of bankruptcy as leverage to attain a favorable settlement agreement outside of court.<\/p>\n

However, although parties who go bankrupt t are ones that will likely have difficulty finding funds to repay debts, bankruptcy does not legally free a party from all debts and civil judgments. Federal law <\/a>explains that a bankruptcy does not discharge certain debts, including but not limited to debts for:<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

By Joseph G. Ballstaedt When deciding whether to sue a person or entity, you must be aware that the person or entity may not be able to pay a judgment awarded by a court or may be able to avoid paying the judgment, even if it has the means to pay. A resounding victory in […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[32],"tags":[],"class_list":["post-6194","post","type-post","status-publish","format-standard","hentry","category-bankruptcy-creditor-rights"],"yoast_head":"\nSome Judgments, Including Those Based on Fraud, Are Not Always Avoidable Through Bankruptcy|Racine Olson<\/title>\n<meta name=\"description\" content=\"By Joseph G. Ballstaedt When deciding whether to sue a person or entity, you must be aware that the person or entity may not be able to pay a judgment — February 16, 2017\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.racinelaw.net\/blog\/judgments-including-based-fraud-not-always-avoidable-bankruptcy\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Some Judgments, Including Those Based on Fraud, Are Not Always Avoidable Through Bankruptcy|Racine Olson\" \/>\n<meta name=\"twitter:description\" content=\"By Joseph G. 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