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How long does a creditor have to file for a judgment?

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Answer:

A creditor may file for a judgment after the contract has been defaulted (some element of the debt contract has been broken by the debtor). Typically, under US federal law (FFDCPA), creditors may file for judgment up to seven years from the date the debt was initiated, or the date of last payment, whichever is latest.
Say for instance the contract was signed 1 January 2000 and no payment was ever made, the creditor may file for judgment until 31 December 2007. If however the debtor made a payment on 30 December 2007, the creditor has until 31 December 2014.

Contributor:

C.Hainsaw

First answer by C.Hainsaw. Last edit by C.Hainsaw. Contributor trust: 812 [recommend contributor ]. Question popularity: 1 [recommend question].

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