Sued by Hudson & Keyse LLC? Here’s What You Need to Know

Over 10 million people get sued for debt every year. More than 90% lose by default because they don’t respond. You can avoid becoming another statistic.

Hudson & Keyse LLC filed for Chapter 7 bankruptcy in 2010. But their lawsuits and judgments didn’t disappear. You need to understand what happens when a debt collector goes bankrupt.

Who Was Hudson & Keyse LLC?

Hudson & Keyse LLC operated out of Painesville, Ohio as a debt buyer. They purchased old, charged-off debt and pursued collection efforts. When standard collection failed, they filed lawsuits.

The company filed for bankruptcy owing over $60 million. Their assets totaled less than $300,000. Vion Holdings, an Atlanta-based company, was their largest creditor.

As a debt buyer, Hudson & Keyse never owned your original debt. They bought it from credit card companies or other creditors. You may not have known they purchased your account.

What Happened to Hudson & Keyse Judgments?

When Hudson & Keyse went bankrupt, their assets got liquidated. Judgments are assets. Another company likely bought any judgment they held against you.

The new judgment owner has powerful collection rights. They can take aggressive action to recover the debt.

Collection Methods Available to Judgment Holders

• Wage garnishment from your paycheck
• Bank account freezes and withdrawals
• Liens on your personal property
• Liens on real estate you own

These collection methods can devastate your finances. You need to act quickly to protect yourself.

How to Find Out Who Owns Your Judgment

You need to identify the current judgment holder. Start by checking court records where the judgment was filed. The clerk’s office maintains ownership records.

Look for assignment documents. These show when judgments transfer from one company to another. The bankruptcy trustee may also have records.

Contact the trustee handling Hudson & Keyse’s bankruptcy case. They can direct you to whoever purchased the judgment. Public records are your friend here.

Your Rights When Dealing With Judgment Buyers

Judgment buyers must follow the Fair Debt Collection Practices Act. They cannot harass you or use deceptive tactics. You have rights even after a judgment exists.

You can challenge the amount owed. Debt buyers often purchase judgments for pennies on the dollar. They may accept settlement offers significantly below the judgment amount.

Our partner Solo helps you understand your options. Responding properly protects your assets and opens negotiation opportunities.

Options for Dealing With Old Judgments

You have several options when facing a judgment from Hudson & Keyse:

• Negotiate a settlement for less than owed
• Set up a payment plan with the new owner
• Challenge the judgment if improperly obtained
• File a motion to vacate based on procedural errors
• Consider bankruptcy if multiple judgments exist

Each option has different consequences. Your specific situation determines the best path forward.

How to Remove Hudson & Keyse From Your Credit Report

Judgments damage your credit score significantly. You need to address them properly to rebuild your financial health.

First, determine if the reporting is accurate. Pull your credit reports from all three bureaus. Check dates, amounts, and current status.

If the judgment is satisfied, ensure it shows as paid. The judgment holder must update credit bureaus. You may need to provide proof of satisfaction to bureaus directly.

Dispute any inaccurate information in writing. Credit bureaus must investigate within 30 days. Keep copies of all correspondence.

Preventing Wage Garnishment and Bank Levies

Judgment holders can garnish wages without additional court action. They simply need to file the right paperwork. Bank levies work similarly.

Some income is protected from garnishment. Social Security benefits, disability payments, and certain retirement funds are exempt. You must claim these exemptions.

Acting quickly gives you more options. Once garnishment starts, stopping it becomes harder. Negotiating before collection action begins saves you money and stress.

Statute of Limitations on Judgment Enforcement

Judgments don’t last forever. Each state sets time limits on judgment enforcement. These range from 5 to 20 years depending on location.

Some states allow judgment renewal. Creditors can extend enforcement periods by filing renewal paperwork. Check your state’s specific laws.

Old judgments may be unenforceable. If the statute of limitations expired, you can challenge collection efforts. Documentation is critical here.

Settling With the New Judgment Owner

Debt buyers purchase judgments at steep discounts. They expect many debtors won’t pay anything. Your offer to settle may be attractive to them.

Start with a low offer. Propose 30-40% of the judgment amount as a lump sum. Emphasize your limited resources and inability to pay more.

Our partner Solo can help you structure settlement negotiations. Having proper documentation protects you from future disputes.

Settlement Negotiation Tips

• Get everything in writing before paying
• Ensure agreement includes satisfaction of judgment
• Never provide bank account access
• Request removal from credit reports as part of deal
• Keep proof of payment forever

Poor settlement documentation causes problems later. Protect yourself by documenting every step.

When to Challenge the Judgment

Some judgments were improperly obtained. Hudson & Keyse may not have properly served you. The debt amount might be incorrect.

You can file a motion to vacate the judgment. Courts grant these when proper procedure wasn’t followed. Time limits apply, so act quickly.

Challenging a judgment requires solid evidence. You need proof of improper service or other procedural violations. Court records and mail receipts become crucial evidence.

Bankruptcy as a Last Resort

Multiple judgments can overwhelm your finances. Bankruptcy may offer the best solution when debt becomes unmanageable.

Chapter 7 bankruptcy can discharge judgment debt entirely. Chapter 13 allows repayment over 3-5 years. Both options stop collection activity immediately.

Bankruptcy has long-term credit consequences. Consider this option carefully. Consult with a bankruptcy attorney about your specific situation.

Protecting Your Assets Going Forward

Judgment holders can seize non-exempt assets. Understanding exemptions protects your property. Each state has different exemption laws.

Homestead exemptions protect home equity up to certain amounts. Personal property exemptions cover vehicles, furniture, and clothing. Retirement accounts usually enjoy full protection.

Proper planning prevents asset loss. Don’t wait until garnishment starts to protect yourself. Take action while you still have options.

Documentation You Need to Gather

Collect every document related to your Hudson & Keyse case. You need the original lawsuit papers, judgment documents, and any payment records.

Request validation of the debt from the current judgment holder. They must provide proof they own the judgment. They must also document the amount owed.

Your documentation strengthens your negotiating position. Missing paperwork on their end creates leverage for you. Don’t assume they have everything properly documented.

Take Action Now

Ignoring a judgment makes your situation worse. Interest continues accruing. Collection options expand over time. Your negotiating leverage decreases.

You have more power than you think. Judgment buyers want to collect something. They often accept reasonable settlement offers. But you must initiate the process.

Don’t let fear paralyze you. Resources exist to help you navigate this challenge. You can resolve this situation and move forward financially.