New York SOL on Judgments

[Ronald Maurer]

What is the name of your state (only U.S. law)? New York
I had a judgment filed against me February 1989 for an alleged credit card debt I do not recall. To prevent garnishment I started making voluntary payments. This February the SOL is up for collections on Judgments (10 property/20 personal). They have not provided me with any validation of this debt and they are charging outrageous interest ($5,000). Am I safe to assumed I do not have to pay anything further after February 2009 when the SOL is up? Do I notify them as a courtesy?

 

[Antigone*]

What is the name of your state (only U.S. law)? New York

I had a judgment filed against me February 1989 for an alleged credit card debt I do not recall. To prevent garnishment I started making voluntary payments. This February the SOL is up for collections on Judgments (10 property/20 personal).

You ARE so on the hook for the rest of your judgement. This comes directly from New York's UCC

211. Actions to be commenced within twenty years. (a) On a bond. (b) On a money judgment. (c) By state for real property. (d) By grantee of state for real property. (e) For support, alimony or maintenance.

212. Actions to be commenced within ten years. (a) Possession necessary to recover real property. (b) Annulment of letters patent. (c) To redeem from a mortgage.

They have not provided me with any validation of this debt and they are charging outrageous interest ($5,000).

Time for validation is long gone. They no longer need to validate the debt - they have a judgement against you and you've affirmed that judgement by paying on it.

Am I safe to assumed I do not have to pay anything further after February 2009 when the SOL is up? Do I notify them as a courtesy?

You would be certainly cause yourself tons of problems by making that assumption. This judgement can and will most likely be renewed. They might "as a courtesy" kindly let you know they are doing so

 

[Zigner]

Additionally - the collection "action" has already occurred. It seems to me that each payment you made reset the clock on the SOL.

 

[Ronald Maurer]

I certainly appreciate any and all answers. I want to be well informed. One last question. They have not filed a garnishment order yet says the Sheriff. As long as I am making voluntary payments within my means, does this for stall any further action? Thank all of you senior members for your responses. This whole thing took my by surprise. My FICO is 770 and want to keep my good standing.
rm

 

[Zigner]

They can take further actions at any point. Just paying what you see fit does not mean they will continue to be so patient.

 

[Ladynred]

The judgment in NY can NOT be renewed, 20 years is the max. The 'outrageous' interest is statutory - meaning it's what the law calls for for unpaid judgments.