Credit Debt SOL and Cort judge time.

iVillage Member
Registered: 02-04-2012
Credit Debt SOL and Cort judge time.
3
Sat, 02-04-2012 - 7:12pm

Hi!

I am new to this forum and hoping to get some info or advise.

If a credit debt is old and after 4 year sold to 3rd party.

iVillage Member
Registered: 08-24-2006
Sun, 02-05-2012 - 3:54am
The statute of limitations on a judgement is 10 years, but it can be renewed indefinately so they basically have forever to collect on it. If there's no way you can pay it then bankruptcy is pretty much your only option.
iVillage Member
Registered: 02-04-2012
Sun, 02-05-2012 - 10:48am
Thank you very much age-of-aq-uarius, for that information. I really appreciate it.
iVillage Member
Registered: 08-24-2006
Sun, 02-05-2012 - 6:39pm
No problem. I dealt with the same thing and just wound up filing for bankruptcy because once you have a judgement there is nothing else you can really do besides pay it or file. Good luck.