New Jersey Sample Letter for Payment of Judgment
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How to fill out Sample Letter For Payment Of Judgment?
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FAQ
NEW JERSEY A judgment is valid for a period of twenty years, but can be renewed within the twenty year period by the filing of a notice with the court clerk. N.J. Stat. Ann. § 2A:14-5.
If you would like to enter into a payment plan or pay off the liability on a judgment, call our Collections Unit at 609-633-6400, option 1, or email Collection.Mailbox@dol.nj.gov. To search for the status of a judgment or verify that a judgment has been satisfied, visit the New Jersey Courts website.
If the money is not collected (liens) Request to have the judgment recorded as a lien against any real estate the debtor owns. Once the judgment is recorded in the Superior Court, the debtor cannot sell with clear title any real estate owned in New Jersey until the debt is paid.
The statute of limitations on a judgment is 20 years ? not six. Further, a creditor can renew the judgment. Also, he said, there is an exception to NJ Statute of Limitation law. ?The six-year statute of limitation does not apply to contracts between merchants or a sale of goods under NJ's Commercial Code.
A judgment stays on your credit report for seven years, although in some cases ? such as bankruptcy ? the judgment can stay for as long as 10 years, and it does not matter what type of loan the judgment relates to: a car loan, a student loan, unpaid credit card debt, a personal loan, a cosigned loan, etc.
After a default judgment has been entered in the court record, the Office of the Special Civil Part will mail you a postcard that shows the date and amount of the judgment entered by the court against the defendant.
A judgment can be fully satisfied by paying the judgment creditor (the person who has the judgment against you) in full and receiving from the creditor a Warrant of Satisfaction.
