How Do You Collect Liens & Judgments?
Liens are filed when a debt is not paid. They can pertain to real property (land and everything attached to it) or personal property (any property not related to real property). Liens can include unpaid property taxes or relate to work performed on a property (construction or mechanic’s lien). Judgments occur when a court has made a final decision in a lawsuit. In the case of a debt collection, the plaintiff usually represents the creditor. A judgment may award reparations or compensation for labor or materials furnished. The collection of a judgment or lien can be legally enforced. Make sure the state statute of limitations has not expired. The statute of limitations in the state where the judgment was ordered will take precedence. For construction liens, many states require their legal enforcement within one year of filing. Tax liens may be collectible for six to 10 years. The statute of limitations for judgments can vary also, with some states allowing as much as 20 years for their
