South Carolina Notice of Default Judgment
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How to fill out South Carolina Notice Of Default Judgment?
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FAQ
Exemptions to Collecting Judgments in South Carolina Even if the debtor has assets, judgments are subject to exemptions in South Carolina. For example, there is approximately a $50,000 ?exemption? on someone's primary residence. The first $50,000 equity cannot be touched by a creditor.
A magistrate's judgment is valid for three years, whereas a circuit court judgment is valid for ten years. Therefore, the filing of a magistrate's judgment in circuit court extends the life of the judgment to that of the circuit court's. Judgments in South Carolina may not be renewed.
The South Carolina Supreme Court has concluded that a judgment is ?utterly extinguished after the expiration of ten years from the date of entry.? It is generally recognized in South Carolina that if a person who is owed money doesn't begin court action within 10 years from the date the judgment is entered, then the
Executing the Judgment You must execute the judgment. A document called a writ of execution must be prepared, attested to by the clerk of court, and delivered to the sheriff. This gives the sheriff the power to take possession of any non-exempt personal property and, if necessary, real property.
If you don't pay the judgment or agree to a payment plan, the creditor must go through a separate judgment collection procedure. 6. During the judgment collection process, you may find that most if not all of your property and income cannot be taken for payment on the judgment.
If you were sued and lost because you did not appear in court, you can file an SC-135 Notice of Motion to Vacate Judgment. By filing this motion, you are asking the court to cancel the judgment entered against you and to give you a new trial.
A magistrate's judgment is valid for three years, whereas a circuit court judgment is valid for ten years. Therefore, the filing of a magistrate's judgment in circuit court extends the life of the judgment to that of the circuit court's. Judgments in South Carolina may not be renewed.
A judgment lien is created automatically on debtor property that's located in the South Carolina county where the judgment is entered. For debtor property in other South Carolina counties, the creditor files a transcript of the judgment with the clerk of the court of common pleas where the property is located.