Judgement in Action to Recover Money or Personal Property: This is an official form from the North Carolina Administration of the Courts (AOC), which complies with all applicable laws and statutes. USLF amends and updates the forms as is required by North Carolina statutes and law.
North Carolina Judgment in Action to Recover Money or Personal Property
State:
North Carolina
Control #:
NC-CVM-400
Format:
PDF
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FAQ
In North Carolina, a judgment is valid for ten years from the date it was awarded by the Court. The judgment can be renewed for another ten years, giving a judgment creditor additional time to try to collect the money owed.
Assets such as IRAs, Roth IRAs, qualified retirement plans, and qualified profit sharing plans are protected under North Carolina law and federal law.
Homeowners in California have the right to declare their primary residence a homestead. Claiming homestead status protects your equity from creditors in the event of a lawsuit or a bankruptcy. While you can get some homestead protections automatically, the most valuable ones require action on your part.
In North Carolina, Section 1-52.1 of the North Carolina Rules of Civil Procedure explains the statute of limitations for debts is 3 years for auto and installment loans, promissory notes, and credit cards.
In North Carolina, a judgment is valid for ten years from the date it was awarded by the Court. The judgment can be renewed for another ten years, giving a judgment creditor additional time to try to collect the money owed.
In order to vacate a judgment in California, You must file a motion with the court asking the judge to vacate or set aside the judgment. Among other things, you must tell the judge why you did not respond to the lawsuit (this can be done by written declaration).You may even be able to win the case.
Payment (or Settlement) Naturally, one could pay off a judgment which would resolved the judgment debt. Expiration of Judgment. In North Carolina, a judgment is enforceable for 10 years from the date it was entered. Voided by Bankruptcy Discharge. Set Aside or Vacate Judgment.
You know you owe the money. The bottom line: the creditor gets a judgment against you. In North Carolina, the entry of a judgment against you can cause a creditor to put a lien on all real property you have in the County where the judgment is recorded with the county recorder as well as on all non exempt property..
In North Carolina a judgment accrues 8% interest from the time it is entered. Judgment can be enforced by execution/through Court process. A creditor with a judgment can attempt to use some of your property to pay the judgment. However, the creditor MUST use the Court system before getting access to your property.