Waiting Over 12 Years To Assert Your Rights
It’s hard to believe that someone would wait 13 1/2 years to assert their claim to enforce a money judgment.
Yet that’s exactly what occurred in a recent case defended by our office.
A judgment is the best remedy that a party can obtain in a court case. The party who obtains a money judgment can garnish the other party’s wages, attach property, and use additional ways to collect the judgment.
The party who owns the judgment, called a “judgment creditor”, receives simple interest at 10% per year and may have up to 12 years to receive payment.
If the judgment creditor does not receive full payment on the money judgment, that party has the right to renew the judgment for additional 12- year periods as long as the judgment hasn’t expired. It will expire 12 years from the date it was entered unless it is renewed.
In the recent case, the judgment creditor did not effectively renew the money judgment.
In order to renew the judgment, the judgement creditor must do the following:
A. Send a notice to renew the money judgment to the clerk of the court with a filing fee of $15.
B. Send to the party who owes the judgment, called the “judgment debtor”, the notice that the judgment holder is seeking to renew the judgment.
C. The notice to renew the judgment must be received by the clerk of the court within 12 years of the date that the judgment was entered.
In the recent case, the judgment holder attempted to rationalize that the notice was sent to renew the money judgment. However, the effort was defective because the judgment holder did not comply with the requirements as described above ( Items A , B, and C) to renew the money judgment.
Fred Antenberg practices law in Central Maryland, is physically located as a practicing attorney in Howard County, Maryland, and has experience in the renewal process of a money judgment.
Call Fred Antenberg today at 410 730-4404.