The investor should file a written complaint with CMIC stating the grounds for the complaint and attaching thereto documents to support the claim. If CMIC finds that there is probable cause for the complaint, CMIC will commence investigation.
A default judgment is a judgment entered by a civil court when a defendant does not respond timely to a plaintiffâs lawsuit brought against him.
So what exactly is a default judgment? After you are served with a lawsuit you have a certain amount of time to respond (usually 20-30 days depending on your jurisdiction). If you donât submit a written answer to the lawsuit the court can enter a default judgment giving the debt buyer everything they are asking for.