Log in

View Full Version : What happens after a judgement?


mace70
Apr 1, 2009, 05:00 AM
What happens after a credit card company gets a judgement? Can they turn it back over to another debt collector? How long can this drag out? It's been over 2 years now since the judgement.

JudyKayTee
Apr 1, 2009, 05:17 AM
Once they get a Judgment they have no need to use a collection agency - they can collect by any means which is legal in your State, including garnishment of wages, liening bank accounts, liening property. Varies by State but the Judgment is "usually" good for about 10 years with a renewal of another 10.

mace70
Apr 1, 2009, 06:08 AM
What if the debtor is considered uncollectable, then what?

ScottGem
Apr 1, 2009, 06:58 AM
The judgement holder will keep it on file and periodically check to see if the debtor's situation has changed. Generally a judgement lasts 7-10 years and can be renewed for at least one more term.