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 mgrupp
Joined: 09 Oct 2009
Posts: 1
1.30 Dollars($)
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 Posted: Fri Oct 09, 2009 9:06 am Post subject: how long does a deficiency judgement last |
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| If a bank gets a deficiency judgement, how long does it last? How long do they have to collect? |
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sunnyca2009
Joined: 04 Aug 2009
Posts: 1735
35.94 Dollars($)
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| Posted: Fri Oct 09, 2009 6:39 pm Post subject: |
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They can start to comeafter you immeditely after the judgement
And it can go as logn as you do nto pay |
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jenkin7
Joined: 04 Jun 2007
Posts: 4303
Location: Hawaii
679.96 Dollars($)
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| Posted: Sat Oct 10, 2009 2:07 am Post subject: |
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Hi mgrupp,
A deficiency judgment is valid and stays on your credit report until the SOL (statute of limitation) expires. Once the SOL expires, your creditors will not be able to come after you for the deficiency. The period of SOL is generally 6-10 years, though it varies from one state to another. You need to check your state laws to know how long the SOL period last in your particular state. |
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leeelliot61
Joined: 13 Sep 2009
Posts: 188
-0.07 Dollars($)
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| Posted: Sat Oct 10, 2009 6:25 am Post subject: |
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| Lender has legal right to collect deficient money from you now. a lot depends upon Lender & deficient money. |
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