I owed Chase bank 3800.00 6 years ago the judgement against me in Jan 2006 was for a whooping 23,409.00. I can not and will not pay this and have refused so far. I haven't given them anything since this huge amount came up. Will I have to keep making court appearances for ever? I would like to open a bank account in my name but have not so far. When does the statute of limitations end for this kind of thing.The rates on this account amounted to extortion. I could have gotten a better black market rate? Paying with cash has been good for me and I will continue this but I would like to have an account.

Well you were the one that did not pay and allowed it to go first into collections and then into a judgement.

A judgement is normally good for @ 10 years ( will vary slightly by state) then they can normally get a renewal for another 10 years, so you can expect them to be able to come after you for about 20 years from the date of judgement.

The reason it was so much
1. late charges
2. over limit charges
3. legal fees
4. court fees.
And while this does seem extreme it is not uncommon.

The other error you made was it appears not showing up in court to contest this, or submitting to the court a plan to replay and the such.

Guess you should have borrowed the money from the loan shark to pay them off if, that was a lot easier to pay back.

They may in most states garnish your paycheck to a certain amount and attach ( garnish) any bank account you open, or any account you use as yours even if not in your name.

So it looks like you will need to work for cash, no regular job, and don't use a bank for about another 14 years.

Quote:

---

Originally Posted by Fr_Chuck

...
A judgement is normally good for @ 10 years ( will vary slightly by state) then they can normally get a renewal for another 10 years, so you can expect them to be able to come after you for about 20 years from the date of judgement.
...

---

You know, Chuck, I have looked at statutes from many of the several states, and have never seen, in black and white, any statute that says a judgment creditor cannot keep renewing it's judgment indefinitely. Would you please point me to an example?

The best solution that I can suggest in answer to Mightylou's question is bankruptcy.

Another solution would be this. As I understand what you are saying, Mightylou, is that the judgment creditor is repeatedly requiring you to appear in court for a judgment debtor examination. File a motion to quash the order to appear on the grounds that your financial situation has not substantially changed since last time and that they are simply harassing you. Support your motion with an affidavit to that effect.

Quote:

---

Originally Posted by mightylou

I owed Chase bank 3800.00 6 years ago the judgement against me in Jan 2006 was for a whooping 23,409.00. I can not and will not pay this and have refused so far. I haven't given them anything since this huge amount came up. Will I have to keep making court appearances for ever? I would like to open a bank account in my name but have not so far. When does the statute of limitations end for this kind of thing.The rates on this account amounted to extortion. I could have gotten a better black market rate? Paying with cash has been good for me and I will continue this but I would like to have an account.

---

Let me get this straight: you agreed to their terms and conditions, defaulted on your debt, and now feel that you are being cheated? :confused:

Unfortunately, SOL no longer comes into play. SOL means the creditor has a set amount of time in which they can legally sue you to secure the money they lent to you - Chase did that.

Yes, rates will double and sometimes triple if you default - that was outlined in the terms and conditions you agreed to. The time to act was before the court hearing, not after - you may have been able to negotiate a payment plan with Chase. Instead, you fought them or ignored them, and now have a $20,000+ judgment hanging over you.

Bankruptcy might be an option. But that is only if you can prove that your bills exceed your income. One judgment isn't going to do that.

Really none, but I have not known of any that have done a 3rd ( or heard of one) some states want you to show where you believe you will be able to latter collect to renew more than twice.

But my guess also, that after 15 or more years a company will at some point forget about it, and move it to a uncollectable file.