Legal Question in Credit and Debt Law in California
I am a judgment debtor. The judgment creditor is a business that recently closed doors, gone completely, they are not bankrupt just closed. What about the judgment? Are there steps I could take? If so, is a lawyer needed?
2 Answers from Attorneys
It may be worth determining if the business had an assets that you can collect on. You can do it yourself if you will spend the time to learn what to do.
Someone, either the owner of the business, or an assignee, most assuredly still has the right to collect on the judgment. Once a judgment in California it remains until it is paid or the judgment creditor files a Satisfaction of Judgment and is valid for 10 years and can be renewed every 10 years forever. Depending upon how long it has been since the judgment was entered, you probably do not have much you can do to remove it. You could always wait the 10 years, at which time the judgment disappears unless it is renewed.