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RobertJDFL, Attorney
Category: Legal
Satisfied Customers: 13515
Experience:  Experienced in multiple areas of the law.
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I live in California. I had a Mutual credit card in 2007. I

Customer Question

I live in California. I had a Washington Mutual credit card in 2007. I owed money on it. The debt was sold and a judgement was put on me on 10/25/2010. The balance is now $11,272.70.
Submitted: 11 months ago.
Category: Legal
Expert:  Sam replied 11 months ago.


This is Samuel. I am sorry to hear of your situation. Please tell me what information can I provide for you? What are the questions in this regard?

Customer: replied 11 months ago.
You're in Maryland? Are you familiar with California law?
Customer: replied 11 months ago.
My question is; if the 4 year SOL has expired what are my options?
Expert:  Sam replied 11 months ago.

Yes. I am familiar with CA law.

Expert:  Sam replied 11 months ago.

Well, the 4 year SOL would only apply if there was not already a judgment. But if the judgment was granted within that 4 year SOL then it is legal and the SOL would not apply.

Expert:  Sam replied 11 months ago.

And so now that they have a judgment, it can be renewed every 10 years.

Expert:  Sam replied 11 months ago.

And in that regard, the interest will continue to compound. You might consider contacting the judgment creditor and trying to work out a payoff in full settlement amount and ask if they will take a certain amount and then "write off" the rest. Now, when that happens you may need to claim the write off on your taxes as income. But you talk to your accountant or tax preparer about that.

Customer: replied 11 months ago.
Expert:  RobertJDFL replied 11 months ago.

Thank you for using Just Answer. New expert here as I see you request a new answer. The previous expert's information was correct - the statute of limitations is the amount of time a creditor has to sue. Since it appears from your facts that they did indeed sue you within those 4 years and get a judgment, as the previous expert noted, that judgment would be valid, and is subject to renewal.

Was there some additional information that I could add or something I could clarify for you?