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Re: New York Judgment 5 Year Rule (WHYCHAT/Anyone)


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Posted by JudgmentFied (12.228.5.156) on November 29, 2003 at 14:41:50:

In Reply to: Re: New York Judgment 5 Year Rule (WHYCHAT/Anyone) posted by observer on November 29, 2003 at 08:32:24:

Observer: Thanks for pointing me in the right direction.

I need some help/feedback on interpreting the following excerpt.

Source: http://assembly.state.ny.us/leg/?cl=44&a=53

(ii) judgements which, from date of entry, antedate the report by more
than seven years or until the governing statute of limitations has
expired, whichever is the longer period; or judgments which, from date
of entry, having been satisfied within a five year period from such
entry date, shall be removed from the report five years after such entry
date;


I read this to mean: If you pay your judgment within the first five years of it being entered, then it will fall off your report in five years.

In other words, if you don't pay it off within five years, it will stay on for the full seven.

This seems to contradict the general understanding that other people seem to have of this rule.

Does anyone else concur? Or have experience using this rule when the judgment was paid off more than five years after the entry date?




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