Judgments are enforceable for 10 years. Prior to the expiration of the 10 years, a judgment can be renewed for an additional 10 year period. Once a judgment’s been renewed, it can’t be renewed again until 5 years later. When the judgment is renewed, the interest that has accrued will be added to the principal amount owed. From that point on you’re entitled to interest on the accrued interest.
Procedures for collecting a California judgment: There are several avenues that can be utilized to collect a California money judgment.
- Garnishment of wages
- Garnishment of bank account
- Attachment of property
- Judgment Debtor Examination
- Assignment to third party collection agency
When determining which path to take, careful consideration must be given to what information you have regarding the debtor’s assets, sources of income and ability to pay. Each process will have additional costs and there may be varying advantages and disadvantages worth considering when pursuing a particular collection means.