Payment For Judgement In North Carolina
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FAQ
NORTH CAROLINA A judgment is a lien on real property for ten years from the entry date. N.C. Gen. Stat.
In North Carolina, a judgment (and the lien on real property created by the judgment) expire ten years from the date of the judgment. The statutes provide that no execution may be issued after the judgment, and its corresponding lien, expire. N.C. Gen. Stat.
In terms of the debt collection laws in NC, the debtor then has a 30-day period in which it may appeal the judgment. Thereafter, the creditor may submit a Writ of Execution to the clerk of superior court in the county in which the judgment was granted, and once issued, submit the writ to the sheriff.
In terms of the debt collection laws in NC, the debtor then has a 30-day period in which it may appeal the judgment. Thereafter, the creditor may submit a Writ of Execution to the clerk of superior court in the county in which the judgment was granted, and once issued, submit the writ to the sheriff.
NORTH CAROLINA A judgment is a lien on real property for ten years from the entry date. N.C. Gen. Stat. § 1-234.
North Carolina interest rate laws set the maximum rate at 8 percent, but explicitly allow consumers and creditors to "contract for a higher rate." State law also exempts mortgage loans, equity lines of credit, and some other types of credit from the statutory limit.
§ 24-1. Legal rate is eight percent. Except as otherwise provided in G.S. 136-113, the legal rate of interest shall be eight percent (8%) per annum for such time as interest may accrue, and no more.
HOW TO CALCULATE POST JUDGMENT INTEREST Take your judgment amount and multiply it by your post judgment rate (%). Take the total and divide it by 365 (the number of days in a year). You will end up with the amount of post judgment interest per day.
Briefly summarized, the statute provides that a judgment for compensatory damages in an action based on tort draws interest at 8% beginning when the case is filed and continuing until the judgment is satisfied. In all other cases, pre- judgment interest is not allowed.
