Pursuant to this form, a plaintiff who obtained a judgment against a defendant is demanding satisfaction of the judgment by payment of a sum of money sent to a specified address. If the parties are represented by an attorney, it would be preferable for the attorney representing the plaintiff to send such a letter to the attorney representing the defendant.
Alabama Letter to Judgment Debtor Demanding Satisfaction of Judgment
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US-00760BG
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How to fill out Letter To Judgment Debtor Demanding Satisfaction Of Judgment?
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FAQ
Tells the court and others that a judgment has been paid in full or in part. Can be recorded with a county to release a lien against the judgment debtor's land or filed with the Secretary of State to release a lien against the debtor's personal property.
Keep in mind that a satisfaction of judgment won't remove said judgment from your credit report. The credit report will simply show that the debt has been paid.
If a judgment has been issued against you, the creditor can satisfy its judgment by freezing your bank account and taking a portion of your wages. Procedures differ from state to state.
"Satisfaction of a judgment," which is governed by URCP 58B, means that the debtor has paid the entire amount of the judgment and all accumulated fees, costs and interest, or that the creditor has decided not to pursue further collection efforts.
On motion and upon such terms as are just, the court may relieve a party or a party's legal representative from a final judgment, order, or proceeding for the following reasons: (1) mistake, inadvertence, surprise, or excusable neglect; (2) newly discovered evidence which by due diligence could not have been discovered ...
Rule 55(b)(1) allows the clerk to enter default judgment only when the claim is for a sum certain or a sum which can by computation be made certain. Rule 55(b)(2) relegates the entry of the default judgment to the court in all other cases.
Satisfaction and release is the formal paperwork stating that a consumer has paid the full amount owed under a court judgment. A satisfaction and release proves that they have paid their debt and prevents creditors from trying to recover more money from them.
If the defendant owns real property, you can enforce your judgment by levying and executing on the property. That is, the property will be sold at the courthouse to settle your claim. You may also execute on personal property.
