When it comes to debt collection, a judgment lien can be a powerful tool for creditors. A judgment lien is created via a judgment against a defendant. This judgment lien allows a creditor to secure an interest in a debtor's property. In North Carolina, this judgment lien gives the creditor the right to collect the debt by seizing and/or selling the debtor's property, assets, and bank accounts if the debt remains unpaid.

Vann Attorneys has also assisted clients who have been subject to a judgment lien. For a debtor, a judgment lien can have significant repercussions. If you have a judgment on record in the state of North Carolina, your personal property, real property, and bank accounts are at risk. If said judgment has attached to your real estate, you run the risk of the real property being sold to satisfy the judgment. Additionally, the lien must be satisfied before the property can be sold. There are certain property exemptions that allow debtors to protect certain assets that they own. A debtor’s primary residence may be protected up to a certain value, specific personal property items may also be exempt, including household goods.

Creditors and debtors should be aware of the longevity of a judgment lien. In the state of North Carolina, a judgment lien is effective for a period of ten (10) years from the date of the judgment. However, creditors can renew the lien by filing a motion to revive the judgment before the ten-year period has expired, which is colloquially referred to as a judgment renewal, which can extend the lien for another 10 years. Vann Attorneys has assisted clients with judgment renewals.

While judgment liens can provide a path to recover debts for creditors, we ask our clients to analyze whether the amount of money that it will cost to acquire the judgment and collect on the judgment would be greater than the judgment and whether or not they think that the debtor has any assets that could satisfy the judgment. The attorneys at Vann Attorneys can assist you with this analysis. Judgment liens also carry significant implications for debtors. The attorneys at Vann Attorneys have ample experience with assisting clients to obtain and collect on their judgment liens, as well as assisting clients with navigating the pitfalls of having a judgment lien levied against them.