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Statute Of
Limitations On 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.)
State
|
SOL
(Years)
|
Maximum
Interest Rate (%)
|
Alabama
|
20
|
12
|
Arkansas
|
10
|
10.5
|
Alaska
|
5
|
10
|
Arizona
|
10
|
Fed + 5
|
California
|
10
|
10
|
Colorado
|
20
|
8
|
Connecticut
|
20
|
10
|
Delaware
|
No Limit
|
Legal + Fed Discount + 5
|
D.C.
|
3
|
70% of interest rate
or 6% if not specified
|
Florida
|
20
|
10
|
Georgia
|
7
|
12
|
Hawaii
|
10
|
10
|
Iowa
|
6
|
10.875
|
Idaho
|
20
|
9
|
Illinois
|
20
|
8
|
Indiana
|
20
|
10
|
Kansas
|
5
|
4% above Fed Discount
|
Kentucky
|
15
|
12
|
Louisiana
|
10
|
9
|
Maine
|
20
|
7.5
|
Maryland
|
12
|
15% if under 30 months,
T-bill rate if over 30 months
|
Massachusetts
|
20
|
10
|
Michigan
|
10
|
20
|
Minnesota
|
10
|
6.953
|
Mississippi
|
7
|
5% changes yearly
|
Missouri
|
10
|
Amount in contract
|
Montana
|
10
|
9
|
North Carolina
|
5
|
10
|
North Dakota
|
6
|
1% above bond equiv Yield
|
Nebraska
|
20
|
2% above Prime
|
New Hampshire
|
20
|
10
|
New Jersey
|
14
|
No provisions
|
New Mexico
|
20
|
8.75% without written contract
|
Nevada
|
10
|
9
|
New York
|
10
|
8
|
Ohio
|
21
|
12
|
Oklahoma
|
5
|
10
|
Oregon
|
10
|
4% over T-bill
|
Pennsylvania
|
4
|
9% renewable @10 yrs
|
Rhode Island
|
20
|
6
|
South Carolina
|
10
|
12
|
South Dakota
|
20
|
14
|
Tennessee
|
10
|
10
|
Texas
|
10
|
10
|
Utah
|
8
|
can be 18% w/Agreement
or 6% without
|
Virginia
|
8
|
Judgement Contract Rate
|
Vermont
|
20
|
12
|
Washington
|
10
|
9
|
Wisconsin
|
10
|
12
|
West Virginia
|
20
|
10
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Wyoming
|
5
|
12
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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 errors here, please let us know at: webmaster@cardreport.com.
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