Yes, there is a staute of limitations. After a creditor wins a lawsuit against you and is awarded a judgment by the court, there is a time limit for collecting on it. If a creditor waits unitil after that time to collect, they are barred from doing so since the judgment will have expired. However, if they use that judgment to obtain a lien, the lien will remain in place until paid off. Additionally, judgments can be renewed. In TN, a judgment is good for 10 years.
Rate This Answer:
Not Yet Rated
The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you go to AttorneyPages.com
and retain an attorney to represent you.