What is a financial judgment?

If one is involved in a motor vehicle accident, found guilty, there is a high likelihood that a court can find one financially responsible. This is why car insurance is so important. Without auto insurance you can be held personally accountable for any damages, which a court finds you liable. The law states that the Secretary of State shall suspend the driver’s license of anyone who failed for 30 days to pay his or her judgment. If the debtor fails to pay any installments, their driver’s license will be revoked along with the items necessary for driving legally, such as the city sticker, license plates, and the registration card for the vehicle. These laws are found under the Safety Responsibility Laws of Illinois. Once a “Judgment” is placed on your record the suspension remains in effect until:1. The person who owes the judgment pays the money owed in full, or an agreed upon negotiated compromise 2. an installment payment agreement order has been reached between the judgment debtor and judgment creditor. A breach of that agreement will cause a re-suspension of the driving privileges.3. the person who owes the judgment, files a petition for relief under the federal bankruptcy code pursuant to Chapter 7.To Reinstate Your License, You Must Do One Of The Following:

Installment Agreement Order
You can craft a contract with the plaintiff’s attorney to pay the judgment in monthly payments. The arrangement must be certified by the court in the county of jurisdiction and submitted to the Secretary of State. Keep in mind; if you fail to make all the payments on time, your license will be re-suspended. Obtain a court order agreeing to pay the judgment in installments and submit this installment agreement order with a court stamp or seal to the Secretary of State’s office at 160 North LaSalle on the 10th Floor Obtain SR22 Insurance. Urban insurance agency has been providing the lowest rates on SR22 car insurance. You must maintain this insurance for 3 years without lapse or cancellation.Payment of a $70.00 reinstatement fee are also required.

Satisfaction of the Judgment
1.Pay the full amount of the judgment to the plaintiff’s attorney or the Clerk of the Cook County Circuit Court. After paying the full amount, make sure you receive a certified, file-stamped copy of a “Satisfaction of Judgment” form. Bring this form to the Secretary of State at 160 North LaSalle Street located on the 10th Floor.
2. Obtain SR22 Insurance. Urban insurance Agency has been providing the lowest rates on SR22 car insurance. You must maintain this insurance for 3 years without lapse or cancellation.
3. A Payment of a $70.00 reinstatement fee is also required.

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