Hyatt Magazine

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Credit Corner - Judgments 1

    Although judgments can only remain on credit reports for seven years from the filing date, it doesn’t mean they’re simply going to go away at that time. In most jurisdictions a judgment creditor/collection agency can have the judgment re-filed or “revived” before it expires in the State of Illinois.

Illinois law governs the time limit for enforcing judgment and states “no judgment shall be enforced after the expiration of 7 years from the time the same is rendered.” Still a judgment may be revived indefinitely, if the creditor petitions the court for the judgment’s revival in the 7th year after its last revival, and once again serve it on the debtor. When a judgment is entered, the creditor can have the debtor’s wages (25%) garnished along with the bank account. To avoid this, one, the debt should be settled and two, always have a second person added to your bank account. If it is shown to the judge that a second person is with you on the bank account, it will stop this garnishment.

By: Ann Halloway Credit Repair Specialist

(708) 717-0277