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.
New York 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
When the debtor pays the judgment, the creditor must: File a Satisfaction of Judgment form with the Clerk within 20 days. The Satisfaction of Judgment form must be filed in the Court that entered the judgment, but if a Transcript of Judgment was filed in the County Clerk's office, it must be filed there; and.
The creditor can often place a lien on your property, such as a house or car. The lien must usually be paid off before you can sell the property. Seize assets. Sometimes, a creditor can get a court order to seize other assets or personal property you own, such as a vehicle or real estate, to satisfy the debt.
The Judgment Creditor may file or request a Property Execution asking that the property be seized and sold with the sole proceeds being used to pay off the balance due on the Debtor's judgment. There is no charge for filing or requesting a Property Execution.
The Sheriff's Office can attempt to collect outstanding NYC Civil Court Judgments on your behalf. You may bring or mail your judgment to us and we will attempt to satisfy the amount of the judgment plus interest and any fees. The fee for this is $50.00.
A satisfaction of judgment is a document signed by a judgment creditor and generally filed with the court, indicating that a judgment has been paid in full.
How Long Are Judgments Valid in New York? Judgments are valid for 20 years and may be extended once for an additional period of 10 years. To extend a judgment for an extra ten (10) years, the Judgment Creditor must make written application to the court that issued the original judgment.
New York Civil Practice Law & Rules Article 52 - ENFORCEMENT OF MONEY JUDGMENTS. 5201 - Debt or Property Subject to Enforcement; Proper Garnishee. (a) Debt against which a money judgment may be enforced. A money judgment may be enforced against any debt, which is past due or which...
