[PAULINEJL]

What is the statute of limitations on a judgment in alberta, canada

[ScottGem]

Generally there is none. Judgements do have to be renewed periodically and there may be a limit on the number of renewals.

[CaptainForest]

I know it is 20 years in Ontario. Perhaps it is similar in Alberta.

[ShadyJane]

A judgement lasts for 10 years in Alberta in which it must be renewed after the 10 years expires.

For credit reporting, a judgement stays on your credit file for 7 years, after which it will automatically drop off.

Depending on the wait, only concern yourself with the actual credit file as that is what banks/creditors use.

If the judgement is of a substantial amount and you are not in the position to pay it or your creditor is non-receptive to a payment plan, I would suggest you protect all assets which makes it difficult to actuall collect. Just because someone has a judgement against you, does not mean that they will get it, they still must collect.

Namely vehicles and property. If you have anything that is title free (no liens), then I would suggest a good friend placing a lien against your property for you, then it cannot be touched until the liens removed.

To protect employment and contact information, your credit file is your best tool. Open a PO box and change once every year. Keep a credit card or get a secured credit card (Home Trust Visa or Horizon in Canada) and keep in good order and update this PO address once a year, also change your employer once a year too to somewhere you do not work. Employers only have to be correct if you are seeking conventional credit, if not they don't care if payments are made on time.

Quick answer until you can get back on your feet, but paying the debt before it goes to collection or judgement if possible is always the best solution. After that point your best bet is not to pay as it will just make your credit worse for longer...

Shady
Financial Force