A Chattanooga Tennessee Abstract of Judgment is a legal document that provides a summary or brief of a court's judgment in a specific case. It acts as a legal record or proof of a creditor's rights to collect a debt from a debtor. This document outlines the details of the judgment, such as the amount owed, the parties involved, and any applicable interest or fees. There are different types of Chattanooga Tennessee Abstract of Judgment, including: 1. Money Judgment: This type of abstract is issued when a court orders a debtor to pay a specific amount of money to a creditor. It includes the principal debt amount, any interest accrued, and additional fees awarded by the court. 2. Property Judgment: In cases where a debtor fails to pay a monetary judgment, the creditor may seek a property judgment. This abstract allows the creditor to place a lien on the debtor's property, enabling them to claim their owed amount through the forced sale of the property. 3. Judgment by Default: When a debtor fails to respond to a lawsuit or fails to appear in court, the court may issue a judgment by default. This abstract states that the debtor is automatically liable for the debt stated in the lawsuit without the need for further legal proceedings. 4. Consent Judgment: A consent judgment is an agreement between the creditor and debtor, usually reached through negotiation or mediation. This abstract outlines the terms of the settlement agreed upon by both parties. Keywords: — Chattanooga Tennessee Abstract of Judgment — Court judgmensummerar— - Creditor's rights — Debt collect—oRerecordedrdec—r— - Proof of judgment — Principal damountmoun— - Interest and fees — Money judgm—nt - Propejudgmentgm—n— - Lien on property — Judgmentdefaultfaul— - Liability without further proceedings — Consenjudgmenten— - Settlement agreement.
Chattanooga Tennessee Abstract of Judgment
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