judgement and time's up!!

In my state judgements can be renewed. Unless they fail to renew it, or it is paid and then you formally go through process to vacate it, it doesn't come off. I would use Whychat's site to find laws in your state.

http://community-2.webtv.net/Y-chat/WhyChatsCredit/

 

In my state, it is renewed with the Court. If they aren't interested in collecting it, they may not renew it. Again I would thoroughly check the laws in your state. Good luck.

 

Hey, gargoyle, turn your email on.

Doc

 

PNWMAN - what state do you live in. I was unaware that a judgement good be "renewed". What about the SOL on a judgement ... would that change?

 

Oregon. SOL on judgements here is 10 years and can be renewed. I am not sure if it can be renewed multiple times. 20 years is a long time by itself.

Here is a link from Whychat's site which gives the SOLs. I would also look up and read the laws in my state if it were an issue at all. It is easy to do these days.

http://www.fidelityinfocorp.com/state_list.html

 

It sounds like the CRAs are treating it as a regular TL. Have you looked up the rules for judgements in your state via the link above? If the SOL on judgements is 7 years in your state I think you are safe. I just didn't want you to think it was past SOL and get a garnishment or lien filed. I hope the posts and link have been helpful. Good luck.

EDIT* Great. Anyway you can check to make sure it was included in BK? Wouldn't it be listed on BK papers? Again, I just don't want you to waken a sleeping creditor.

 

1*Sure can be renewed and when they are the time starts all over again.
2*Basicaly there is no SOL on a judgment because of the renewability factor.
lb 59

 

You may want to make a quick trip to the courthouse to get a copy of the court records for this particular case. If the judgement has been satisfied then you don't have to worry about SOL any longer.

In my state (Ohio) judgements can be renewed every five years up to the SOL which for contracts is 21 years.

However, as far as your credit report goes I am thinking that to have it reappear on your credit reports after the file drops off in 2/02 the creditor would have file a whole new case against you and be awarded judgement all over again. It's easier to renew the old judgement and that is the route they usually always take. When renewing, the original case number remains the same and the original filing date remains the same and that is the date the credit reporting agencies must use to figure your drop off time.

 

I just received an email that made a very important point that might not be obvious. The FCRA limit on reporting negitive info is 7 years while the states' SOL for collecting judgements vary. In the state I am in a judgement is collectable via garnishment, liens, etc for 10 years and then can be renewed again and again. Under FCRA the original judgement can be reported for 7 years and then each time renewed it can be reported another 7 years (This last part is an assumption on my part). It seems strange that it is collectable for 10 but only reportable for 7 but that appears to be the case. I looked over the FCRA again and I don't find anything that disagrees with that.

I think two things remain clear: know your state laws, and be careful when you are within state SOL.

If my failure to point out this difference confused anyone, I apologize. I hope this is helpful. Good luck.

 

Renewing a judgement does not create a whole new public record. It merely updates the original public record in the same manner a satisfaction entry, dismissal entry, reversal entry etc. would update the record.

The FCRA makes no distinction regarding actions occuring after the judgement is filed. Payment does not extend reporting time and by the same token reviving (sp?) the judgement does not extend the reporting time either.

Regarding the SOL the creditor can revive his right to collect from you without the red tape of filing a new case, risk not being able to have you served properly because you moved., etc. appearing in court all over again and take the chance you may have been able to assemble a successful defense since the last time they took you to court. Your prior judgement is moot if the creditor brings new suit against you. Rather than going this route it is best for the creditor to just file a renewal to preserve his rights of collection as awarded in the original judgement and be done with it.

Keep in mind that the renewal is an action that revives the original judgement for collection purposes. It is not a new judgement. It is not a new public record. Because of that fact everything as far as credit reporting requirements stay the same. They do not change. The judgement filing date remains the same because a new judgement was not awarded. It was simply revived.

SOL and credit reporting times are two separate things. The credit reporting agencies can opt to keep it on their records throughout the entire SOL for each state but don't because of the extra work involved. Many simply have adopted the 7 year rule as a means of more "efficient" <<cough>> record keeping.

Please note I only speak for Ohio and the information above was from the legal department from where I work.

 

In direct repsonse to Gargoyle's question I would say it is safe to assume the public record entry will drop off in 2/03.
That takes care of the credit report which I think was the primary concern.

If the debt is still unpaid the creditor can still pursue collections up to the SOL.

A collection record for this debt could still pop up on your credit report but not a new public record unless thay file suit all over again.

The best thing to do is obtain a copy of the case history from the county court where the case was filed to get its exact status.

Who knows...it may have been dismissed/vacated somewhere along the line because of the BK and should have been deleted long ago.

 

I think that is pretty important cavate in your post that could easily be over looked. It is clear, that each state has significant differences. My state is very lender friendly/consumer unfriendly. I am willing to bet that any creditor/CRA would take a different view than yours and it would be up to me to sue them to prove otherwise. Again, in my state I believe the Judges are likely to side with the creditor.

 

Again, another post from you that has nothing to do with the original question - which had to do with the reporting period.

Considering many unpaid judgments have fallen off of many credit reports, this is just another ASSumption on your part. (i.e., "I'm willing to bet")

From the Equifax website:

Judgments remain on file for 7 years from the date file whether satisfied (paid) or unsatisfied.

I think the "whether satisfied (paid) or unsatisfied." part says it all, don't you?

Yes, the creditor can still come after the debtor for a judgment after 7 years, depending on state laws and whether or not the creditor renews the judgment when it is ready to expire (if that state allows such renewals.) But it can't be put back on her credit report - which was the issue gargoyle girl asked about to begin with, and which you managed to muck up and frighten her unneccesarily.

 

Said in best Church lady voice "Now isn't that CONVIENT!"

You are 100% correct that I am making some assumptions (which I labeled such as best I could) just as you and Kathycmh are. You are taking your assumptions and experiences and saying they apply 100% to Gargoyle's. I am not. I am saying find out what your state laws are, and find out if it was included in the bankruptcy! Work from a position of strength! Do your homework! You on the other hand are saying charge ahead don't worry about the ramifacations or consequences. Now which is more responsible on a board where many will take the advice intended for one person? Is it a bigger error to be cautious or fool hardy? Also you certainly could have made your point (as wrong as it may be) WITHOUT being a jerk. Save your preaching attitude for your congregation.

 

pnwman, state laws not withstanding, federal law requires that all negative information (except bankruptcy) *may* be reported for no longer than seven years. They can renew that judgment all they like and the CRA's can only report it for seven years. Is it collectible past seven years? Sure...it can be...but it cannot be reported on a consumer report.

You know what they say about assumptions...lol.


L

 

In California, judgmenents can be renewed every 10 years.

If it is a lot of money or some **bitterness** on creditors part, they might just go with the trouble of renewing it.

 

Hi Whyspers

Thanks for your post. So can we be sure the Court won't see a renewal as a reason to continue reporting? Are there any cases to back this up? Is there a reasonable way to look this up? I would be glad to do the work if you have some possible sources. Do you recommend that people know the laws in the state the reside in? Do you recommend that Gargoyle and people in a similiar position know if the debt is past SOL, included BK, paid or unpaid? Sorry for all of the questions. I definately belive in having the ducks in a row before potentially waking the creditor. If that offends people I apologize.