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Illinois Release and Satisfaction of Judgment

Illinois Release and Satisfaction of Judgment

Name: Illinois Release and Satisfaction of Judgment
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.77 (451 reviews)

Category:

Illinois Local County - Kane - General

State:

Illinois

Control #:

IL-SKU-1577

Format:

Instant download

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Description

Release and Satisfaction Of Judgment Illinois Release and Satisfaction of Judgment is a legal document used to release a judgment debtor from a court order to pay a debt to a creditor. It is also known as a satisfaction of judgment or a release of judgment. This document is filed with the court and serves to release the judgment debtor from the obligation to pay the debt. The document is signed by both the creditor and the judgment debtor, and it releases the debtor from any legal obligations related to the debt. There are two types of Illinois Release and Satisfaction of Judgment: Full Release and Partial Release. A Full Release releases the debtor from all obligations related to the debt, while a Partial Release only releases the debtor from some obligations related to the debt.

Illinois Release and Satisfaction of Judgment is a legal document used to release a judgment debtor from a court order to pay a debt to a creditor. It is also known as a satisfaction of judgment or a release of judgment. This document is filed with the court and serves to release the judgment debtor from the obligation to pay the debt. The document is signed by both the creditor and the judgment debtor, and it releases the debtor from any legal obligations related to the debt. There are two types of Illinois Release and Satisfaction of Judgment: Full Release and Partial Release. A Full Release releases the debtor from all obligations related to the debt, while a Partial Release only releases the debtor from some obligations related to the debt.

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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.

Satisfaction of Judgment: Once a defendant has paid-off a judgment, this form is used by the person receiving the money or property to let the court know that the judgment has been paid. Do not use this form to satisfy a judgment that contains an ongoing obligation, i.e. child support or maintenance.

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.

Section 137-100-0020 - Request for Satisfaction (1) An applicant who has fully or partially paid a money judgment imposed in a criminal proceeding may obtain a full or partial satisfaction of judgment from the Issuer of Satisfactions upon written request.

The Satisfaction of Judgment form should be signed by the judgment creditor when the judgment is paid, and then filed with the court clerk. Don't forget to do this; otherwise, you may have to track down the other party later. It's easy to get a copy of a Satisfaction of Judgment form.

Illinois law governs the enforcement and resurrection of judgments. Under Illinois law, judgments have an enforcement time limit of seven years from the date of their entry.

Satisfaction of a judgment means that the judgment is no longer a lien on the debtor's real property. The courts cannot control the actions of third parties, but usually, the fact of satisfaction is recorded by the major credit reporting agencies and included in the debtor's credit history.

Judgments, unless they fall into an exception below, live in 7 year installments. But with the right timing, a judgment can be enforced for 27 years. After a judgment is entered, the person who is owed the money, called the "creditor," can enforce the judgment for 7 years.

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A Satisfaction of Judgment (also known as a Release and Satisfaction) is a legal document that shows that the plaintiff has been paid all that he or she is owed, based upon the original judgment against the defendant. SATISFACTION OF JUDGMENT - CIRCUIT COURT.Whenever the entire amount due on a judgment, including interest, is paid in full, the holder of a judgment must. A Satisfaction of Judgement is proof you paid what you owed. 1. The judgment entered has been paid off or satisfied in full. 2. The judgment creditor has failed to file a release and satisfaction of that judgment. A Release and Satisfaction is a document stating that the judgment has been fully paid. This is also known as a Satisfaction of Judgment. Release Satisfaction of Judgment. Defendant. RELEASE AND SATISFACTION OF JUDGMENT.

Illinois Release and Satisfaction of Judgment

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