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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.
Once you have a satisfaction of judgment, you should update your credit report so that it shows that you have paid the debt. To update your credit report: Get 3 certified copies of the Acknowledgment of Satisfaction of Judgment from the clerk's office (you may have to pay a fee); AND.
You may ask your judgment creditor to file a satisfaction of judgment form. The length of time gives to the creditor to file the form varies from state to state, but it is usually between 14 and 30 days after your request.
A document signed by the party who is owed money under a court judgment (called the judgment creditor) stating that the full amount due on the judgment has been paid.