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How long can a judgement creditor really collect in new york state?
Anonymous4 views3 answers
Let's say a creditor gets a city court money judgement. They file the Transcript of Judgement in county which I appears to transform it into a real property judgement that's good only for 10 years and renewable for another ten provided that they commence renewal before the 10 years is up.
If they don't renew, then they can still seize a bank account 14 years later?
section 211.b = says it's good for twenty years...
5203(a) looks like after ten years it is no longer a lien against real property...
5014 - i think this is saying how one must renew it, but I don't know what it is saying as to the 10 years...
http://www.schenectadycounty.com/FullStory.aspx?m=259&amid=854
at the bottom of this sheriff site, it reminds creditors that it is collectable for only 10 years...
William James RogersConstruction / Development LawyerBloomington, MN ·
As a debtor, you are not obligated to pay the judgment once the Statute of Limitations on the judgment expires. The New York SOL on a judgment is 10 years. To renew a NY SOL on a judgment, the creditor has to apply for the renewal within 1 year prior to the expiration of the judgment. Sec. 211(b) places a statute of repose on the ability to collect on a money judgment of 20 years, which means the creditor may renew the judgment only once and must collect within 20 years, after which time the debt is presumed paid and satisfied.
To garnish your bank account, the creditor must have a court order. You will need to investigate whether the judgment was renewed properly and whether the creditor obtained an order of execution to support the seizure of funds. These documents should be available from the court, some may be available from your bank, and all should be available from the creditor.
You probably should contact a local attorney to assist you in sorting through these issues and taking the necessary steps to recover any funds improperly seized.
Keep in mind that in many states, if you are sued, you must raise the statute of limitations as a defense or lose it. The debt can still be collected, but you have grounds at that point to fight it.
