This means that the defendants have an opportunity to make payment before the judgement is to be satisfied by the court officers. The person who lost the suit can pay before the judgement before their property starts being forfeited to settle the debt.
A judgment can get satisfied by a wage garnishment. A judgment can also be satisfied by a levy of property. An attorney can help you file the proper paperwork.
A judgment can get satisfied by a wage garnishment. A judgment can also be satisfied by a levy of property. An attorney can help you file the proper paperwork.
The benefits of a lawsuit settlement work for both the plaintiff and defendant. The plaintiff may save on legal fees and the possibility of a losing case by just amicably agreeing to a mutual figure. The defendants could save on a judgment that would be much larger.
You should go to the court that issued the original judgment and inquire about a 'judgment satisfied' document that could be recorded in the land records.
To obtain proof that a judgment has been satisfied, you can request a satisfaction of judgment document from the court that issued the judgment. This document will show that the judgment has been paid in full or otherwise satisfied. You may need to provide this document to credit reporting agencies or other entities to update your records.
Check with the court that issued the judgment and ask how you can have the lien recorded in the land records.
judgment
In most cases, it is the responsibility of the party who received the judgment to report to the court that it has been satisfied. However, it is advisable for the lawyer representing the party to ensure that all necessary documentation and notifications are provided to the court to confirm that the judgment has been satisfied.
The statement, "execution of judgment is stayed until final payment is received at which time judgment will be deemed satisfied" means that the judgment will be held against you until the debt is completely paid off. You can then get a letter of clearance to have the judgment removed from your credit report. Most debts will remain on a credit report for 7-10 years, even after they have been paid and satisfied.
Until it is satisfied or vacated.
Return to the court that ordered the judgment and present evidence that you have satisfied the debt. ALSO, while you're there, if you have satisfied the requirements of the judgment, ask the judge to find the creditor in Contempt of Court for failing to release you.
A small claims court judgment stays on your record permanently unless it is satisfied, then it will probably still be there but show satisfied. Most people do not look at a judgment if it is over 7 years old.