- Report: #218394
Complaint Review: Love Beal Nixon - Oklahoma City Oklahoma
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Love Beal Nixon
Oklahoma City Oklahoma City, Oklahoma, U.S.A.
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Love, Beal, Nixon need answers about SOL and garnishment Oklahoma City Oklahoma
I was sued by LBN back in 2002 and did not appear in court, therefore, there is a default judgement against me on a reposessed car. I have been checking the status of this on the OSCN website. There has been no activity on this until recently. LBN keeps sending a garnishment letter to an old employer of mine. The other day, LBN filed for a "renewal of judgement". What does that mean? Are they trying to extend the the SOL? Can they do this? Any advice would be greatly appreciated.
Billy
Tulsa, Oklahoma
U.S.A.
Billy
Tulsa, Oklahoma
U.S.A.
2 Updates & Rebuttals
Steve
Bradenton,Florida,
U.S.A.
More info on judgements and Oklahoma
#2Consumer Suggestion
Tue, October 31, 2006
Billy, Every state has a different law on judgemnts. The law in OK on a domestic judgement is 5 years and is renewable. A foreign judgement is 3 years and is not renewable. The allowable interest rate on it in OK is 4% over the T-bill rate of the preceding year. Keep in mind that if it is not renewed prior to expiration it is done and gone forever. It cannot be refiled. And, a judgement means nothing if there is nothing to collect! They can only garnish a max of 25% of your earnings in OK, but it is very easy to get a hardship approved, and they usually get nothing, or close to it. LBN are some real lowlife. I would get all of the info on that first court case and see if they did everything right, such as proper service, etc. And if they didn't you can easily get the judgement vacated. Good luck!
Tim
Valparaiso,Indiana,
U.S.A.
Here's how it works:
#3Consumer Comment
Tue, October 31, 2006
Judgments theoretically are "eternal" and can be collected upon indefinitely. However, due to limited record-keeping abilities, most state laws allow for the expunging of a judgment after a certain amount of time, usually ten years or so. So, for the judgment-creditor to maintain the judgment in the court's records and thereby maintain his ability to collect his judgment, he files a simple renewal form that will automatically extend the judgment for another several years. This isn't really "extending the statute of limitations" as there is no statute of limitations on judgments. And yes, it's perfectly legal. Bottom line: your ability to challenge any aspect of this debt has probably long since vanished and, absent a bankruptcy filing, you will be paying up. Indiana law allows for 8% post-judgment interest. I don't know how Oklahoma goes in that regard. But in a post-judgment interest state, the amount you owe now will be FAR more than what you owed at first (for example, if you owed $100 in 2002, you would now owe $136). And the longer you wait, the more you're going to owe.
