Statue of Limitations for Judgments
After a creditor wins a lawsuit against a debtor and is awarded a judgment by the court, there is a time limit for collecting that judgment. However, many states allow judgments to be renewed one or more times, which could substantially extend the enforceability of a judgment, if the creditor is vigilant about the renewals. This can potentially result in a permanent legal obligation until it is paid.
If a lawsuit has not been filed yet, there is a separate time limit for doing so, which you can find here.
(The numbers on this chart indicate years.)
or 6% if not specified |
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T-bill rate if over 30 months |
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or 6% without |
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The information above is believed to be accurate at the time of the creation of this page, and is for reference only. We are not attorneys, and nothing here should be construed as or relied upon as legal advice. If you are concerned about possible lawsuits, you may wish to confirm this with your state’s Civil Code and/or a qualified attorney. If you find any discrepancies or Call National Credit Educational Services. 770-952-5168