Judgment proof

{
  "id": "MLC-T-LAW-002840",
  "term": "Judgment proof",
  "field": "Law",
  "definitions": [
    "A descriptor for an individual or entity that lacks sufficient assets or income to satisfy a monetary judgment. Even if a court rules against them, the judgment creditor cannot collect the awarded funds because there are no attachable assets. This status often applies to individuals with limited financial resources or those whose assets are legally protected from collection.",
    "Describing a debtor whose assets and income are insufficient for a creditor to collect on a monetary judgment. A person in this financial state has no property or funds that a court can legally order to be seized and sold to pay a debt. Assets exempt from seizure under state or federal law include certain retirement funds, social security income, and a portion of equity in a primary residence under homestead exemptions."
  ],
  "url": "https://mlchart.com/terminology/law/judgment-proof/"
}