Georgia Satisfaction of Judgment is a legal document used to acknowledge the full and final payment of a judgment debt in the State of Georgia. A Satisfaction of Judgment is used by the court after a judgment creditor has received payment in full from a judgment debtor. The document releases the judgment debtor from any further obligation to pay the debt. It is signed by the court clerk and filed with the court. There are two types of Georgia Satisfaction of Judgment: A Satisfaction of Money Judgment and a Satisfaction of Non-Money Judgment. A Satisfaction of Money Judgment is used when a judgment debt is paid in cash, while a Satisfaction of Non-Money Judgment is used when a debt is paid through other means, such as through the transfer of property or services.
Georgia Satisfaction Of Judgment
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Once a lien is properly filed in Georgia, it currently is valid for twelve (12) months from the date the claim became due, which is the last date labor, services, or materials were rendered to the project. ingly, before the twelve month period expires, the lien claimant must perfect the lien.
In Georgia, a judgment is valid and enforceable for seven years from the date it is granted.
If a creditor gets a judgment against you, it could remain in effect for up to 20 years. In many cases, it can also be renewed. The exact time frame depends on which state you live in and the type of judgment.
- Generally interest on a judgment is to be calculated at seven percent (now 12 percent) per annum from date of judgment until payment, but when contract or note upon which action is based specifies a different rate, or when interest is prescribed by statute, the judgment thereon bears interest from the date of
If the defendant is unwilling to pay, the plaintiff may: Place a lien on the defendant's property, giving the plaintiff the right to sell the defendant's property to collect the money award. The clerk of the court, when asked by the plaintiff, can place a lien on the defendant's property.
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.
In Georgia, a creditor can garnish your wages, seize money from your checking account, put a lien on your house, and take your car away from you if it is paid off.