1. A judgment can be registered as a judgement mortgage against any property you own, as alluded to earlier.the ins and outs of Judgements
2. A judgement will affect your credit rating with lending institutions and credit card companies.
3. A judgement can be lodged with the Sheriff for collection which can lead to seizure of your goods.
4. A judgement can form the basis of Instalment Order proceedings in court against you.
5. If creditors know that a judgement has been registered against you (and they can conduct a search against you), they will not be inclined towards doing business with you (think buying properties, cars etc).
6. As alluded to earlier, do a judgement search against yourself.