Illinois Satisfaction of Judgment is a legal document used to record the payment of a debt. It is a document that is filed with the court and states that a judgment or debt has been paid in full. This document is used to release a lien or stop wage garnishment. There are two types of Illinois Satisfaction of Judgment: Partial Satisfaction of Judgment and Full Satisfaction of Judgment. Partial Satisfaction of Judgment is used when only a portion of the debt is paid, while Full Satisfaction of Judgment is used when the full amount of the debt has been paid. Both documents are filed with the court for the release of the lien or wage garnishment.
Illinois Satisfaction of Judgment
Instant download
This website is not affiliated with any governmental entity
Public form
Description
Satisfaction Of Judgment
How to fill out Illinois Satisfaction Of Judgment?
US Legal Forms is the most easy and profitable way to locate appropriate formal templates. It’s the most extensive web-based library of business and personal legal documentation drafted and checked by attorneys. Here, you can find printable and fillable templates that comply with federal and local laws - just like your Illinois Satisfaction of Judgment.
Getting your template takes just a few simple steps. Users that already have an account with a valid subscription only need to log in to the web service and download the document on their device. Later, they can find it in their profile in the My Forms tab.
And here’s how you can obtain a properly drafted Illinois Satisfaction of Judgment if you are using US Legal Forms for the first time:
- Read the form description or preview the document to make sure you’ve found the one meeting your needs, or locate another one utilizing the search tab above.
- Click Buy now when you’re sure of its compatibility with all the requirements, and select the subscription plan you like most.
- Create an account with our service, log in, and pay for your subscription using PayPal or you credit card.
- Choose the preferred file format for your Illinois Satisfaction of Judgment and download it on your device with the appropriate button.
Once you save a template, you can reaccess it anytime - just find it in your profile, re-download it for printing and manual fill-out or import it to an online editor to fill it out and sign more effectively.
Benefit from US Legal Forms, your trustworthy assistant in obtaining the required formal paperwork. Give it a try!
Form popularity
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.
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.
A Release and Satisfaction is a document stating that the judgment has been fully paid. This is also known as a Satisfaction of Judgment. The plaintiff must sign the document and you must then file with the circuit court clerk. Note: There are separate and more detailed rules for judgments involving child support.
A judgment is a court order that is the decision in a lawsuit. If a judgment is entered against you, a debt collector will have stronger tools, like garnishment, to collect the debt.
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.
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.
A judgment stays on your credit report for seven years, although in some cases ? such as bankruptcy ? the judgment can stay for as long as 10 years, and it does not matter what type of loan the judgment relates to: a car loan, a student loan, unpaid credit card debt, a personal loan, a cosigned loan, etc.
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.
More info
NOTICE TO JUDGMENT DEBTOR: If this is an acknowledgment of full satisfaction of judgment, it will have to be recorded in each. Acknowledgment of Satisfaction of Judgment (EJ-100).Tells the court and others that a judgment has been paid in full or in part. Satisfaction of a judgment means that the judgment is no longer a lien on the debtor's real property. The winning party must serve a copy of the completed Satisfaction of Judgment (Form 9) on each losing party in the Small Claims Court case. To Judgment Debtor(s):. I (We) knowingly and voluntarily state that the judgment in this matter has been paid off or satisfied in full,. Respondent(s):. (Date File Stamp). Satisfaction of Judgment. And the Clerk of Court shall record the same.