In Florida, creditors can bring suit on any debt that is founded upon a written instrument for a period of five years from the date of default. Naturally, creditors always fare better if they have a reasonable amount of documentation. Note that if the default date is more than five yeas before the time that you decide to bring suit, you may be able to bring it anyway, under some limited circumstances. For example, if the debtor defaults on the debt, then begins paying again and promises to pay, but then fails to do so, he or she may have tolled the statute, making it start over again. This varies, as each county has different fees, but by the time you pay the filing fee, the service fee, then record the judgment, it usually reaches this amount.
Some creditors choose to just record the judgment and sit on it.
This is, in our view, a very bad tactic. We feel strongly that in order to get satisfactory results, judgment creditors must take affirmative action. The cost of post-judgment action is relative small, and it often makes the difference between success and failure in collecting your judgment. A certified copy of the judgment should be recorded in each county in which the debtor may own realty. This will create a lien on certain property in many cases, and can result in payment when the debtor attempts to sell their property.