Legal Question in Credit and Debt Law in California

I recieved a decloration of accrued interest for $2400.00 on a stipulated judgement that I never thought was enforced. About 6 years ago I was told by a collector . I would have wage garnishment,a lien on my house,etc.. if I did not sign a stipulated judgement. I paid about $1800.00 on a $4000.00 credit card debt, but they added ona whole lot more after i couldn't make payments due to no work. It has been six years since I heard anything, I never went to court or heard if the judgement had been awarded. Any thought/help


Asked on 8/06/12, 3:38 pm

1 Answer from Attorneys
Roy Hoffman Law Offices of Roy A. Hoffman

If you signed a stipulated judgment you have a judgment against you. In California judgments are valid for 10 years and can be renewed for 10 years forever. Interest accrues at the rate of 10% per annum until paid. A Declaration of Accrued Interest is used to add interest to the judgment so that interest is then calculated on the total of the original judgment plus the accrued interest. The declaration is commonly used in conjunction with a renewal of judgment.

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Answered on 8/06/12, 4:00 pm


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