Sunday, May 06, 2007

Assignment of an Old Judgment

Question: Does assignment of judgment to a third party automatically extend the life of a judgment past initial 10-year period? How do you know when the judgment has expired?

Answer: No. A judgment in California is good for 10 years, regardless of whether or not it has been assigned. However, the assignee or the judgment creditor can apply for a renewal of the judgment any time before the expiration date. You can look on the court's website or go to the courthouse to examine the records. The date of the judgment's entry might also appear on the debtor's credit report.

Some courts are experienced long delays in the processing of routine documents because of a new computers system that will soon be adapted throughout the state. If your application to renew the judgment is rejected due to some error, filing close to the 10-year expiration date could be risky. Click here to obtain more information on the process of renewing a California Judgment.

About the Author:
Carl H. Starrett II has been a licensed attorney since 1993 and is a member in good standing with the California State Bar and the San Diego County Bar Association. Mr. Starrett practices in the areas of bankruptcy, business litigation, construction, corporate planning and debt collection.

No comments: