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cfortunato
cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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Re: Debts in CA Individual has TWO judgments against him.

Resolved Question:

Re: Debts in CA

Individual has TWO judgments against him. One for $11,000 plus interest each year. The second for appx $8,000 plus interest each year. The first was entered on June 2006 and the second was entered June 2009.

It's my understanding they can be renewed @ 10 years in CA. In NV for example the judgments expires FOREVER after 6 years but in CA it's like a perm judgment.

So my question is: What if the company forgets to renew the judgment? Does it expire then so person can stop worrying about it? What is the timeline to renew? What if somebody has say $3,000 in cash could they get one of them to just settle the debt for that amount? The only problem is this person hasn't heard one thing for the judgment holders and if he trys to settle it may just put him under their rador again for collecting.

Any comments?
Submitted: 4 years ago.
Category: Bankruptcy Law
Expert:  cfortunato replied 4 years ago.
Hi JACustomer,
1) The judgments must be renewed before they expire. It is not possible to renew a judgment after it expires.
2) Yes - any judgment debtor can offer a lesser amount to settle a judgment in full, and any judgment creditor can agree to accept a lesser amount as satisfaction of the judgment.

I think this is what you wanted to know. If not, please let me know.
Thank you.
Customer: replied 4 years ago.
If I move to Nevada is it standard to enforce the judgment across state lines? I'm wondering if I move out of state if I'll ever hear of these Cali judgments.
And how early can judgments be renewed before they expire? They can't renew now right? Also how common is it for huge bank CHASE to renew all debts?
Expert:  cfortunato replied 4 years ago.

1) Yes - it is common for judgment creditors to attempt to collect from a judgment debtor who has moved out of state.

2) A judgment can be renewed "at any time before the expiration of the
10-year period of enforceability". California Stat. 683.130(a). It would not make sense to renew early, as doing so will be a waste of effort if the debtor does satisfy the judgment, but the Chase can renew their judgment now.

3) Large creditors - such as Chase - almost always renew judgments.

Customer: replied 4 years ago.

not good. so basically I'll have to be in hiding (have no real estate/cars/bank accts )for life with these two judgments? otherwise, they'll be sitting in the background waiting to pounce.

probably best option to settle for reduced amount since I don't want to have scar of bankruptcy.

Final follow up: sorry for so many questions. I ask my NEW easy ones to you.

Are there minimum amounts of value protected from being levied/taken/etc?

For example, I have $1,000 in bank acct - can that be taken? I have car worth $3,000 can that be taken?

Thank you I'm done w/ questions.

Expert:  cfortunato replied 4 years ago.

Here is a list of property that cannot be taken by creditors:

704.010 - Motor vehicle or auto insurance if vehicle lost, destroyed or damaged up to $2,725.
704.020 - Food, clothing, appliances and furnishings.
704.040 - Jewelry, heirlooms and art up to $7,175 total (spouses may not douoble).
704.050 - Health aids.
704.140 & 704.150 - Personal injury causes of action and wrongful death causes of action. Wrongful death and personal injury recoveries that are needed for support.
704.200 - Burial plot.

Money in bank accounts can be taken without warning at any time.

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