A dormant judgement refers to a court decision that has not been enforced within a specified time frame. This implies that any legal right to the judgement may have been forfeited, and the creditor must revive the judgement before they can proceed with any enforcement measures. It is crucial to understand that a dormant judgement should not be confused with a void judgement, which holds no legal validity.
Definition:
A dormant judgement refers to a legal ruling that has not been enforced within the specified timeframe established by law. Consequently, any judgement lien may have been forfeited, and the execution of the judgement cannot proceed unless the judgement creditor initiates the process of reviving the judgement.
A dormant judgment refers to a court judgment that has not been enforced or collected within a certain period of time.
The length of time a judgment remains dormant varies by jurisdiction. In some states, it may be as short as three years, while in others, it can be up to 20 years.
Yes, a dormant judgment can still be enforced. However, the process may require additional steps and may be subject to certain limitations or restrictions.
To enforce a dormant judgment, the judgment creditor may need to file a motion or petition with the court to revive the judgment. This typically involves providing evidence of the debt and demonstrating that the judgment is still valid.
In many cases, interest continues to accrue on a dormant judgment. The rate of interest may be determined by state law or specified in the original judgment.
In some cases, a dormant judgment may be dischargeable in bankruptcy. However, this depends on various factors, including the type of debt and the specific circumstances of the bankruptcy case.
Yes, a dormant judgment can negatively impact your credit score. It may appear on your credit report and be considered by lenders when assessing your creditworthiness.
If a dormant judgment is inaccurate or outdated, you may be able to have it removed from your credit report by disputing it with the credit reporting agencies. However, if the judgment is valid and up-to-date, it may remain on your credit report for a certain period of time.
In some cases, a dormant judgment can be renewed. This typically involves filing a motion or petition with the court before the expiration of the dormant period.
Yes, it is possible to settle or negotiate a dormant judgment with the judgment creditor. This may involve reaching a payment agreement or offering a lump sum settlement to satisfy the debt.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 17th April 2024.
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