An Illinois Abstract of Judgment is a legal document that records a civil court judgment against a defendant in the state of Illinois. It is used to document a court-ordered debt owed by the defendant in order to collect on the debt and is enforceable for up to 20 years in the state of Illinois. There are two types of Illinois Abstract of Judgment: an abstract of judgment against a person and an abstract of judgment against property. An abstract of judgment against a person lists the name of the judgment debtor, the court that entered the judgment, the case number, the date of the judgment and the amount of the judgment. An abstract of judgment against property is used when a judgment debtor owns real estate, and it lists the same information as an abstract of judgment against a person, as well as a description of the real estate.
Illinois Abstract of Judgment
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How to fill out Illinois Abstract Of Judgment?
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FAQ
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.
A few ways include taking money from the debtor's bank account or garnishing the debtor's wages. Sometimes, the creditor doesn't know where the debtor works or where they have a bank account. Then, the creditor can use a Citation to Discover Assets to find out this information.
Illinois law governs the time limit for enforcing judgment and states ?no judgment shall be enforced after the expiration of 7 years from the time the same is rendered.?1 The same statute allows the 7-year limitation period to be extended ?upon the revival of the judgment by a proceeding.?
The lien remains in effect for 7 years, even if the creditor does not force a sale. This means that you probably cannot sell the real estate during this time because a buyer would want you to pay the judgment in full before agreeing to purchase the property.
If the debtor still doesn't pay, then the creditor can come back to court to collect the money. There are several ways for the creditor to collect the money from the debtor. A few ways include taking money from the debtor's bank account or garnishing the debtor's wages.
A default judgment occurs in Illinois civil cases when the defendant has been properly served with a complaint and summons and has failed to file an answer to the complaint by the first court date or to appear in court for the first court date.
Illinois law provides ?a judgment may be revived by filing a petition to revive the judgment in the 7th year after its entry, or in the 7th year after its last revival, or in the 20th year after its entry, or at any other time within 20 years after its entry if the judgment becomes dormant and by serving the petition
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.