Q: I had a judgment in 2011 after I lost my house in foreclosure (Florida). How long do they have to collect?
A debt collector just contacted me saying they acquired my debt, and want me to respond. 1)How long do they have to collect?
2) What are my options??
Thanks!
Thanks for the response(s). It was a judgment for money, but the amount they are seeking is ~$17k more than what the judgment was for.
They sent a letter via usps standard mail.
A: There should be a judgment for money, not merely for foreclosure. Assuming there is a judgment for money, or an order for the same, and is registered as a judgment, then the debt collector has 20 years to collect the judgment.
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A: I agree with my colleague, only a money judgment would be collectible, so there is probably a deficiency judgment entered following the foreclosure. Judgments are good for 10 years in Florida and the creditor can renew them for another 10 years. Part of the post-judgment collections process involves you providing your financials to the creditor. You are required to provide this information and if you fail to do so, they can obtain a contempt order against you, so you will want to be sure to read correspondence carefully and communicate with the creditor, so as to avoid that possible scenario. If you are considering bankruptcy, you may want to consult with a bankruptcy attorney to discuss whether or not you are a good candidate, otherwise you may want to get on a repayment plan. Just don't agree to a payment that you cannot afford!
1 user found this answer helpful
A: How did they contract you? By phone or letter? You should ask if they have proof of ownership of the debt.
1 user found this answer helpful
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