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Dimitry K., Esq.
Dimitry K., Esq., Attorney
Category: Family Law
Satisfied Customers: 41220
Experience:  I provide family and divorce law advice to my clients in my firm.
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I want to sell my house. There are 5 financial judgments on

Customer Question

I want to sell my house. There are 5 financial judgments on file against me in my county. The original debts, all credit card debt originally and all delinquent for over 6 years, were taken over by collection agencies who have gained judgments within the past 6 years. What is the status of these judgments? The original delinquent debt is over 6 yrs old but the judgments are within the past 6 yrs.
Submitted: 1 year ago.
Category: Family Law
Expert:  Dimitry K., Esq. replied 1 year ago.
Thank you for your question. Please permit me to assist you with your concerns.
In Colorado the statute of limitations on collection judgments is 20 years from the date the judgment was obtained. In addition the holder of the judgment can charge up to an 8% interest rate annually for the amount owed. Since 20 years have not yet passed, these are still likely to be valid judgments against you which the creditors can use to potentially intercept the funds and proceeds from the sale of the property if they didn't place a judgment lien outright against the property already.
Sincerely,
Dimitry, Esq.