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    aporter17's Avatar
    aporter17 Posts: 2, Reputation: 1
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    #1

    Oct 17, 2007, 07:14 PM
    For how long can a creditor collect on a judgement?
    Let's suppose a creditor (open account) obtains a judgement before the SOL runs. Is there any limit to how many years the creditor may attempt to collect on the judgement?

    Also, with the judgement in hand, can the creditor place a lien on an inheritance?

    Thank you.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Oct 17, 2007, 07:16 PM
    Most judgements run 7-10 years and can be renewed. A judgement can be used to attach an inherited asset.
    aporter17's Avatar
    aporter17 Posts: 2, Reputation: 1
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    #3

    Oct 17, 2007, 07:19 PM
    Quote Originally Posted by ScottGem
    Most judgements run 7-10 years and can be renewed. A judgement can be used to attach an inherited asset.
    Thank you for that very fast answer! Under what circumstances would a creditor renew a judgement?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #4

    Oct 17, 2007, 08:29 PM
    Normally they can renew if they have not collected yet and believe or show they feel they can collect in the future. Each local court or judge may have some requirements of their own
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #5

    Oct 18, 2007, 06:18 AM
    As Chuck said, if they haven't collected they renew. It costs almost nothing to renew a judgement.
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