Editor’s Note: Each state has different laws when it comes to enforcement of money judgments, including those relating to private student loans. This article works with the laws of the State of California; if you live anywhere else, talk with a lawyer in your state about your individual situation.
After the private student loan lawsuit comes the judgment. For California residents, this could be better or worse – depending on your situation.
We’ve talked about why a student loan lawsuit may not be a bad thing, but you should weigh your options before allowing the private student loan debt go to judgment.
How Long Is A Judgment Valid?
Under California law, a money judgment is valid for a period of 10 years from the date of entry.
The judgment may be renewed for an additional 10 years, but only if the application for renewal of the judgment is filed before the expiration of the 10-year period of enforceability.
Once the first renewal is made, the creditor can renew again for successive 10 year periods of time.
All in all, the private student loan judgment can be renewed for as long as you live.