How Long Do I have to Collect My Judgment?
Judgments do not come with automatic debt recovery. Courts leave enforcement of their judgment up to you. Luckily, companies like WritReady are here to help legally enforce your judgment. Our professionals will help you with the information you need to collect your judgment within a timely manner. Waiting till the last minute is not an option when it comes to collecting judgments. Debtors will evade as long as they possibly can if you allow them and waiting out the statute of limitations is easy if you allow them. Avoid deadbeat debtors and possibly losing your judgment due to the statute of limitations by enforcing your judgment immediately.
Do I have a certain amount of time to collect on my Judgment?
Yes. You only have a limited amount of time to collect on your judgment. This time varies by state and it is very important to take note of how long you have to collect your judgment. Here is a list of statute of limitations by state. Years tend to fly by quickly and reaching the statute of limitations happens often. Luckily, courts allow for extensions on judgments. On the same list above, you will find the amount of times and how long judgment extensions are allowed per state.
How do I get more time to collect on my Judgment?
The only way to get more time to collect on your judgment is to petition the courts for an extension. Every state has a different process for petitioning the court for an extension on a judgment and it is best to learn how your states process works before the statute of limitations has run its course. Wasting time at the last minute may render your judgment void and useless. Do not let this happen if your judgment is in a state that does not allow extensions. A lapse judgment is a wasted judgment.
Does it cost money to extend the collection time of my Judgment?
It does not cost money to extend the collection time of your judgment, but it does take time. Depending upon your situation, time is considered money and it is in your best interest to understand the extension process of your state before the statute of limitations arrives. Letting your judgment expire past the statute of limitations will render the judgment void and unenforceable in many states. The best way to avoid your judgment becoming lapse is to enforce it and get what you are owed.
How much time can I extend the collection time on my Judgment?
This depends on the state the judgment was made, but there are circumstances where judgments may be made into permanent court orders depending upon the debtor, creditor, and specific situation. Courts are well aware that debtors ignore court orders and are reasonable when it comes to judgment extensions. In some states, the courts will not let you extend the judgment forever, so it is in your interest to handle judgment collection as quickly as possible.
The courts give ample amount of time for debt collection after a judgment has been made. However, months quickly turn to years when dealing with a deadbeat debtor and the statute of limitations can appear quicker than anticipated. Be prepared to extend your judgment if you are dealing with a debtor who avoids their responsibilities even after a court has ordered a judgment against them. Ignoring the statute of limitations on your judgment is a quick way to make your judgment null and unenforceable. Do not give your debtor the benefit of the doubt, enforce your judgment until you are made whole.