Philadelphia, PA asked in Bankruptcy, Contracts, Foreclosure and Real Estate Law for Pennsylvania

Q: How long a Bank can collect on a judgment in PA? Judgment was on my credit report for 7 years but not sure when Status

Is there any status of limitation on this judgments? This was for an unsecured business loan from one of the major banks .

2 Lawyer Answers
David Kennedy Bifulco Esq.
David Kennedy Bifulco Esq. PRO label
  • Consumer Law Lawyer
  • Bethlehem, PA
  • Licensed in Pennsylvania

A: Judgments become liens on all Real Property the person owns in the County where the Judgment is recorded. Judgments need to be renewed every 5 years to retain the lien and its priority against the Real Property. You should contact an attorney that has experience in Real Estate and Foreclosure Law as soon as possible. If you fail to act you may be waiving certain defenses.

Daniel Edward Mueller agrees with this answer

Daniel Edward Mueller
Daniel Edward Mueller
  • Bankruptcy Lawyer
  • Philadelphia, PA
  • Licensed in Pennsylvania

A: Credit reporting does not affect the time in which a creditor can collect a judgment. A creditor with a money judgment in Pennsylvania can collect against the debtor's personal property, including money in bank accounts, for up to 20 years. In addition, as my colleague noted, judgments become liens on real property and can be transferred between counties. (Note that Magisterial Court judgments generally do not become liens on real property and have other collections limitations unless transferred to Common Pleas Court.)

You may want to discuss the matter with an attorney who handles debtor defense and debt settlement to discuss your options. Even if there is no defense to collection of the judgment, an attorney can often negotiate a settlement of the judgment for significantly less than the balance.

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