judements over 10 years old
Date: Tue, 04/21/2009 - 07:33
Can you still negotiate the amount they say i owe?
I do not know the statue of limitations on a judgment. Hang tigh
I do not know the statue of limitations on a judgment. Hang tight I am sure someone will be along to help shortly :wink:
I believe that once a judgment has been awarded you have to pay
I believe that once a judgment has been awarded you have to pay it. I'm not aware of any SOL on Judgements.
Yes, you can negotiate the amount you owe. I'm a loan officer and many times a judgement will show up as a lien on title. If the client doesn't have enough equity I can usually get them to take a lesser amount. After all, if it's that old, it's better to take some then to never get paid.
What state do you live in? SOL is state dependent and judgement
What state do you live in? SOL is state dependent and judgements do have an SOL that may be renewable.
I just spoke with the attorney at a title company that I deal wi
I just spoke with the attorney at a title company that I deal with. Heres the thing, they have a certain amount of time that they can collect on the judgement. After that, they have to have the judgement renewed. If they fail to have it renewed after the time frame, then they cannot collect on it. The time frame allowed and the amount of times they can be renewed depends on the state that you are in.
What state are you in and I can get you that info?
Yep...According to the attorney at the title company. I have ha
Yep...According to the attorney at the title company. I have had circumstances where an old judgement will show up on title and the person is refinancing. The title company will verify that it as been renewed, if the judgement was not renewed, the will then file an avoidance of lien and have the item removed.
In Texas the SOL is 10 years and renewable for another 10 but th
In Texas the SOL is 10 years and renewable for another 10 but they have I believe 30 days before the 1st 10 years expires to renew it.
judgments
Depending on what state you live in, once a judgment has been entered into the circuit court, it has a 5 to 20 year life span and can be re-entered at the discretion of the creditor. If you plan on buying, selling or refinancing real estate, you must pay it off, no matter what, if it is still valid. It will affect your credit score for 7 to 10 years but once that expires, it is still enforceable on the court level.
Clarification...you do not have to pay the judgment off if it is
Clarification...you do not have to pay the judgment off if it is a lien on real estate and the judgement is no longer collectable and the company did not renew it.