I have a judgment that recently was rediscovered after being dormant for 8 years during the process of buying a home. The judgment is no longer on credit but was discovered by the title company. This became a hard stop on the home purchase. This judgment came at a time in 2009 when I was in the mortgage industry and when the real estate market tanked, and I was also going through a divorce, no excuse, just what happened. I have to deal with this debt now in order to be able to buy a home. There has been no collection efforts up until this point, garnishments, bank levy;s, etc. so I am hesitant to contact the attorney or Capital One to discuss if anything can be settled for less. I cant locate a number for Capital One to discuss the judgment, only customer service numbers. I have never had to deal with anything like this so I am quite nervous and unsure how to proceed, any advice is greatly appreciated.
Once a judgement has been obtained, it can be renewed indefinitely. That means your liability for it never ends unless you file bankruptcy or pay it off. I know that in Michigan, money judgements are good for 10 years and can be renewed every 10 years.
It depends on the laws of your state: https://www.nolo.com/legal-encyclopedia/how-does-creditor-collect-judgment-against-me.html