Legal Question in Credit and Debt Law in Washington
Old Debt and a New Home
I have many old debts that I have made settlements on and a few that are old and still owing (utilities). I am purchasing a home for the first time and want to know if my old creditors can put a judgment or lien on my home to try and collect on old debts.
1 Answer from Attorneys
Re: Old Debt and a New Home
Debts have statutes of limitations after which creditors can no longer take action on those debts.
In WA, the worst-case statute of limitation on a debt is six years. Any debt that you have made no payments or promises about since November of 2001 is now stale and cannot be collected upon.
In order to take a judgment, a creditor has to file, serve and prevail in a lawsuit. If they win the suit, they can execute on the resuling judgment they hold.
Your home cannot be liened unless you did not pay a contractor, and liens have to be filed and recorded promptly or they are of no effect.
Checking your credit report can help you determine whether there are any creditors who might have a basis to file suit against you.
Hope this helps. Elizabeth Powell
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
