• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

How much time do i have to pay a judgment

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.



BL

Senior Member
T. How Do I get My Money if I Win?
If Judgment is entered in favor of the plaintiff or the counter-plaintiff for all or a part of the amount claimed, that amount is payable at once and interest begins accruing immediately at the rate of 9% per year, per statute (simple interest, not compounded daily).

If you obtained your Judgment by default, the defendant probably does not know about it. Write or phone to inform that party. You should mail a copy of the written court finding. For a small fee the clerk will provide you a copy for this purpose.

If the losing party (now called the Judgment Debtor) does not pay the Judgment within 30 days, the winning party (now called the Judgment Creditor) may begin legal collection proceedings.

If you decide to begin collection proceedings to enforce your Judgment on your own, you can ask the small claim clerk for the list of enforcement methods called the "Common Collection Sheet". Remember, the clerk cannot give you legal advice. Since this area of the law is complex, you may well consider retaining a lawyer to represent you.


--------------------------------------------------------------------------------
 

JETX

Senior Member
mayweak said:
How much time do i have to pay a judgment
The REAL answer to your question is.....
You have until the judgment expires. In Illinois, a judgment is good for TWENTY years. And of course, all the time that the judgment goes unpaid, it is accruing interest at the rate of 9% per year!!
 

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top