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Statute of Limitations for Judgments

If you have been late with payments and debt becomes delinquent, creditor can file lawsuit against you. If creditor wins, it is entitled to collect the judgment awarded by court. Generally, there is a time limit for creditor to act and start collecting, but many states permit a renewal of those judgments several times even after they expire. So you as a debtor can be liable forever until the judgment is satisfied.

If a lawsuit has not been filed yet, there is a separate time limit for doing so, which you can find under statute limitations for debts.

 

State SOL in 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%
Wyoming 5 12%

 

The information above is believed to be accurate at the time of the creation of this page, and is for reference only. Bad Credit Advisor doesn’t provide legal advice. If there is lawsuit against you filed or being filed, consult a qualified attorney.

If you find any discrepancies or errors here, please let us know at webmaster@bad-credit-advisor.com

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