If you have a judgment against you, you may wonder, “How long does a judgment last in Florida? Understanding Florida’s judgment duration is critical to knowing how to best address the judgment in your circumstances. An attorney from Loan Lawyers can explain how a judgment can affect you or your business and advise you concerning how to get rid of the judgment.
What Is a Judgment?
If you owe a debt, your creditors or debt collectors will likely contact you about paying off the debt. If you do not pay, they may sue you for the money you owe them.
If you do not appear to dispute the judgment in court, a default judgment may be entered against you. A default judgment may include the amount you owe, pre-judgment interest, and the attorneys’ fees incurred to obtain the judgment order.
If you appear in court to dispute the judgment, but the judge finds you owe the money, they will enter a judgment order, which is the court’s final decision in the lawsuit showing what you owe the creditor.
Duration of a Judgment in Florida
As a debtor, you need to know how long a judgment lasts in Florida. A judgment can be enforced against real property or personal property for up to 20 years under Florida law. That means that a creditor can pursue payment from you for up to 20 years from the date of the judgment if the creditor extends or renews it.
The judgment amount shown in the court’s order accrues interest until collected at a quarterly interest rate set by Florida’s Chief Financial Officer. For example, on January 1, 2024, the rate was 9.09 percent. In 2023, the rate was 8.54 percent. Because interest is accruing, the amount you owe will continue to grow while the judgment remains unpaid.
Implications of a Judgment
A judgment affects your financial health. From negatively impacting your credit score to encumbering your property, a judgment is not something you can ignore without repercussions. Further, depending on how aggressive the creditor is in collecting the judgment, they may even garnish your wages, affecting your monthly income.
How to Address a Judgment
To get rid of a judgment, you must proceed in one of the following ways:
- Pay the judgment in full.
- Settle the judgment debt with the creditor if they are willing to take a discount on the total amount due.
- Discharge the judgment debt in bankruptcy via a Chapter 7 or Chapter 13 bankruptcy.
- Wait until the judgment expires in 20 years.
If you are dealing with one or more judgments, an experienced attorney from our law firm can help you determine the best course of action to release them.
Renewing or Reviving a Judgment
A Florida judgment lien on property expires 10 years after a certified copy of the judgment is recorded in the county where the property is located. However, a creditor can extend or renew the lien for another 10 years for a total of 20 years. If the creditor does not re-record the judgment, the lien expires after 10 years.
Contact Our Florida Bankruptcy Attorneys to Learn More
By contacting Loan Lawyers, you can speak to a lawyer at the Total Debt Solution Law Firm. If you are experiencing stress or anxiety due to the uncertainty of debts or judgments, you can trust our firm to help you regain the financial stability you desire. We offer free consultations, so there is no financial commitment for your initial case review.
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Loan Lawyers is made up of experienced consumer rights attorneys who use every available resource to develop comprehensive debt solution strategies. Our goal is to take on those burdens, resolve those problems, and allow our clients to sleep soundly knowing they are on the path to a better future.
