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Renewing a Judgement and SOL laws for Judgements


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I need clarification concerning judgements SOL and the creditors ability to renew the judement again to continue to collect forever. I hope I am in the correct area to ask this question. I have the Good Credit is Sexy book and I cannot put it down because it is so informative. I am a little confused concerning judgements. Unfortunatley I have one judement and my husband has two. My question is- I know that the SOL for judgements in my state of N.C. is 5 years. I have a judgement that was filed in 8/2001. The SOL would be up this month according to the 5 years for my state. For the creditor to be able to renew this judgement and continue to collect and change the filing date that would carry another 7 years on my credit report, do they have to renew within the first five years or can they renew all the way up to 7 years when it is due to come off of my credit report? I guess I am confused about the whole renewel process. I just don't want these creditors to keep renewing these judgements with myself and my husband. I hope my question is clear. Thanks! :confused:

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Guest mikey

have they tried to collect any of it with the judgements? i know they cant garnish in most cases and nc has consumer friendly judgement protection, but have they collect anything at all?

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On one of the judgements of my husbands a couple of years ago they seized our checking account and cleaned it out! Nothing has happened since that time. But someone sent me this link and said that the SOL is 10 years and is cannot be renewed. What do you think? I am so confused. I just don't want them to renew it and if the SOL is 5 years for NC, does that mean they have to renew within the 5 years? Here is the link:

http://www.ncleg.net/EnactedLegislation/Statutes/HTML/BySection/Chapter_1/GS_1-47.html

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Guest mikey

in my case, in fla, i am protected by head of household plus we are NOT a community property state, so my debt is mine, not my wifes as long as she was not listed on acct.

not sure on judgement as i am not down that path yet and hopefully wont....

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Your information regarding NC judgements is incorrect

in NC a judgement stays on file for 10 years and can be renewed once for an additional ten,... which means they can go into your account at any time to withdraw funds,, so be careful with that...

North Carolina Statute of Limitation

Express or implied contract, not under seal: 3 years.

Contract and sale of personal property under seal: 10 years.

Open account: 3 years, NOTE: Each payment renews the SoL on all items purchased within the 3 years prior that payment. If no payment is made, the SoL runs from date of each individual charge. Contracts: From date of breach or default, unless waived or performance under the contract is continued.

Judgments: 10 years

Partial payment BEFORE the SoL expires renews the SoL from date of payment.

Payment AFTER SoL expires renews SoL ONLY if, at time of payment, circumstances infer the debtor recognized obligation to pay. Partial payment on open account restarts SoL on purchases made within 3 years of payment date, if acknowledgment can be inferred, starts the statute anew as to the full obligation acknowledged, even if all of the charges were not made within the last three years.NC Continued...

Partial payment by one debtor does not renew the statute of limitations as against any a co-debtor unless that co-debtor agreed to, authorized or ratified the partial payment.

Partial payments DO NOT affect the ten-year limitation on enforcing or renewing judgments.

Bankruptcy, Death or Disability: Filing of a bankruptcy tolls the statute of limitations for the enforcement of contracts and judgments.

The death, minority, disability or incompetence

ALSO some judgements appear on credit reports others dont but even if you are paying it off judgements and BK are on your report for 10 years and if they renew another 10

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Guest mikey

so the part about bankruptcy...if a person loses a claim on a credit card debt and has a judgment against them, they can not then file bankruptcy and protect their assets from collections?

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What would be your advice to me? Should I try and contact the creditor's that placed the one judgement on me and the two on my husband and try to pay them off before the ten years is up? Or should I just pray that they won't renew and not worry about it until then? It does say on my credit file that the judgements will fall off within 7 years. My judgement was in 2001 and it say's due to come off in 2008. I guess I just need advice on how to handle this situation. I will need to refinance my home in the next 5 years and I don't want these judgements to kill me. In 5 years it will be 2011 and by that time they should have fallen off, unless they renew them! Help!

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