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Judgement Expiration??

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    Judgement Expiration??

    We filed Chapter 7 bankruptcy on an un-incorporated business which also made it a personal bankruptcy in 2002. The bankrupcty attorney did not file Motion to Avoid Judgements during the process.

    While attempting to refinance our house recently, we got through approval process and down to title search. The title search showed there were still judgements against our property filed prior to the bankrupcty. The $$ amount of the judgements were included in the bankrupcty and discharged.

    Question: Once a judgement is filed against you does it stay there forever, or is there a statute of limitation that would allow the judgement to eventually expire. Are there other options? We live in Illinois.

    #2
    Illinois is 20 years with an allowable interest rate of 8%

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      #3
      Yeah, each state varies, but usually judgments last 6 years or more. However, judgments are easily RENEWED, so if the plaintiff is on the ball, in most states, judgments last forever.

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