Alaska Release of Judgment Lien
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FAQ
A judgment stays on your credit report for seven years, although in some cases ? such as bankruptcy ? the judgment can stay for as long as 10 years, and it does not matter what type of loan the judgment relates to: a car loan, a student loan, unpaid credit card debt, a personal loan, a cosigned loan, etc.
§ 8.01-251(B). A judgment expires ten years from the date of entry.
Upon notice to every other party and upon leave of court, a party may deposit with the court all or any part of any sum of money or any other thing capable of physical delivery which is the subject of the action or due under a judgment.
Judgments are valid until satisfied or discharged; however, when a period of five years lapses, the judgment holder must file a motion with the court and prove sufficient cause for failure to obtain a writ of execution. Alaska Stat. § 09.35. 020.
How do I collect on my judgment? You may collect the money owed you in one of two ways: either the debtor pays you voluntarily or you can execute on the debtor's property by getting a writ of execution from the judge.
Rule 69 - Execution-Examination of Judgment Debtor-Restraining Disposition of Property- Execution After Five Years (a)Execution -- Discovery. Process to enforce a judgment shall be by a writ of execution, unless the court directs otherwise.
