If you need Judgment Enforcement or Judgment Collection in Vermont we can help. The Judgment Enforcement Link goes to
the only Judgment Enforcement Agent You will require for all your Judgment Enforcement needs.
Matching you up with the best Judgment Enforcement in Vermont sm
See Vermont Judgment Enforcement Law below.
Below are Judgment Enforcement Collection Companies in your state and are here to serve your Judgment Recovery Needs, including asset searches, wage garnishments and bank account locators.
Judgments and Enforcement:
A judgment entered in the State of Vermont is enforceable, and may be renewed or revived within eight (8) years after its entry, and not after. (Lim. of time for Comm. of Actions 12-506.) A judgment creditor may record a judgment lien against the real property of the judgment debtor in the town clerk’s office of any town in which it is located within eight (8) years. (Court Proc. 12-2904.) The judgment lien is effective from the date of issuance of the final judgment and may be foreclosed upon if it is not satisfied within 30 days of recording. (Court Proc. 12-2903.)
A judgment creditor may obtain a writ of execution to levy upon the non-exempt goods or chattels of the judgment debtor. (Court Proc. 12-2731, 12-2732.) A Trustee process to attach money or other property due the defendant is available provided it is due absolutely and without contingency. (Court Proc. 12-3018.) An assignment of future earnings is generally not valid against trustee procee process unless it is executed in writing and is made to secure of a debt of a stated amount and incurred prior to and simultaneously with the exectuion of the assignment, or a debt for necessaries to be thereafter furnished to the debtor for a stated amount. Such assignment must also be recorded or it is not valid. (Court Proc. 12-3022.)
In a trustee process, or in an action before a justice, the plaintiff or the court may accept a judgment by confession from a debtor. Such confession of a debt to a creditor must be made by a debtor personally in a writing filed with the justice court setting forth the claim upon which the judgment is rendered. (Court Proc. 12-4673, 12-4671.) If a creditor refuses the tender of a confession of judgment by a defendant for the amount of the debt and costs then incurred, the creditor may not be permitted to recover the costs incurred after such tender. (Court Proc. 12-2139.)
However, in a consumer contract, a provision requiring a power of attorney to confess judgment or assignment of wages is void and of no force and effect on any party. (Comm. & Trade 9-2456.)
Foreign Judgment:
The State of Vermont has not adopted the Uniformed Enforcement of Foreign Judgmenst Act. The Vermont Statutes provide only that the Clerk of the Court may receive a copy of a judgment issued by another state or foreign country, certified by the clerk or the court rendering it to be a true copy thereof, as prima facie evidence of such judgment. (Court Proc. 12-1698.)
Interest:
Legal rate: The legal interest rate for forbearance or use of money is 12% per annum. (Comm. & Trade 9-41A(a).)
Written Contract rate: For single payment loans made by lenders regulated by Title 8 and federal savings and loan associations, the finance charge cannot exceed 18% per annum. (Comm. & Trade 9-41A(b)(1).) For a retail installment contract the finance charge cannot exceed 18% per annum of the first $500.00, and 15% on the balance in excess of $500.00. (Comm. & Trade 9-41A(b)(2).)
Judgment rate: 12% per annum on Judgment amount. (Court Proc. 12-2903.)
Exemptions:
In general, a debtor may claim exemption of his homestead and certain personal property from attachment and execution of a judgment.
The homestead of a judgment debtor may be exempt from attachment or execution up the a value of $75,000.00. A homestead is defined as a dwelling house, outbuildings and the land used in connection therewith, owned and used or kept by the judgment debtor as a homestead together with the rents, issues, profits and products thereof. (Prop. C. 27-101.) When the value of a homestead exceeds the $75,000 value limitation, and the severance thereof would greatly depreciate the value of the residue of the premises or be of great inconvenience to the parties interested in the residue or the homestead, the interested party may apply for relief to the Superior Court by filing a complaint setting forth the facts. (Prop. C. 27-108.)
Personal property which may be exempt from exectuion and attachment may include the debtor’s interest in a motor vehicle or motor vehicles not to exceed $2,500 in aggregate value, professional or trade books or tools not to exceed $5,000 in aggregate value; a wedding ring, jewelry of the debtor or his dependent held primarily for the personal, family or household use not to exceed $500.00 in aggregate value, household furnishings, goods or appliances, books, wearing apparel, animals, crops or musical instruments that are held primarily for the personal, family or household use of the debtor or his dependent not to exceed $5,000 in aggregate value, growing crops not to exceed $5,000.00 in aggregate value; the debtor’s aggregate interest in any property not to exceed $400 in value plus $7,000 of any unused amount of exemption provided under subdivisions (1), (2), (4), (5) and (6) of Section 12-2740 of the Court Procedure, one cooking stove, appliances needed for heating, one refrigerator, one freezer, one water heater, sewing machines, ten cords of firewood, five tons of coals or 500 gallons of oil, 500 gallons of bottled gas, one cow, two goats, 10 sheep, 10 chickens, and feed sufficient to keep the cow, goats, sheep or chickens through one winter, three swarms of bees and their hives with their produce in honey, one yoke of oxen or steers or two horses kept and used for team work, two harnesses, two halters, two chains, one plow, and one ox yoke, bank account deposits not to exceed $700.00 in value, and self-directed retirement accounts of debtor not to exceed $10,000 in aggregate value.
Other personal property which may be exempt may include professionally prescribed health aids for the debtor or his dependent, unmatured life insurance contracts owned by the debtor, property traceable to or the debtor’s right to receive, to the extent reasonably necessary for the support of the debtor and any dependents of the debtor, Social Security benefits, veteran’s benefits, disability or illness benefits, alimony, support or separate maintenance, compensation awarded under a crime victim’s reparation law, compensation for personal bodily injury, pain and suffering or actual pecuniary loss of the debtor or an individual on whom the debtor is dependent, compensation for the wrongful death of an individual on whom the debtor was dependent, payment under a life insurance contract that insured the life of an individual on whom the debtor was dependent on the date of that individual’s death, compensation for loss of future earnings of the debtor or an individual on whom the debtor was or is dependent, and payments under a pension, annuity, profit-sharing, stock bonus, or similar plan or contract on account of death, disability, illness, or retirement from or termination of employment. (Court Proc. 12-2740.)
Statutes of Limitation:
Civil actions generally can be commenced only within certain time limitations. The time generally runs from the date a cause of action accrues or from the date injury or damages are discovered or should have been discovered.
When a cause of action accrues is a critical issue and may be different on a case by case basis. A creditor should always consult actual legal counsel to determine its right to action under the applicable statutes. Some of the time limitations relevant to credit and collection matters are as follows:
Witnessed promissory note 14 years
Limitation of Time for Commencement of Actions
12-508.
Civil Actions
6 year
Limitation of Time for Commencement of Actions
12-511
Injury to personal property
3 years
Limitation of Time for Commencement of Actions
12-512(5)