My sister has 2 substantial judgments against an old company that she and her Xhusband had. She supposedly personally signed for them. One was filed in 2012, not sure on the other, but close to same. She has done nothing to satisfy either. Both were in the same county in GA.. She lives in another state. Is there a statute of limitations on judgments? Are they at all negotiable? Are there criminal penalties?
1 Answer from Attorneys
First, there are no criminal penalties in this country for simply not paying a debt. There may be criminal penalties associated with extreme failure to comply with court orders in litigation related to the debt, but that is a different matter.
There are statutes of limitations on judgments. However, they vary from state to state and differ greatly. Your sister should contact a debt relief attorney in the state where the judgment was entered and also where she lives because there could be multiple statutes of limitations to consider.
Judgments are negotiable, if the judgment holder is willing to negotiate them. Any settlements should be in writing and should include a "Satisfaction of Judgment" to be filed in all counties/states where the judgment was recorded, as well as a report to the appropriate credit reporting agencies.
I hope this helps, and good luck.