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.
Indiana 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
The judgment lien definition is that if you owe a creditor money and don't pay, they can sue you for the balance. If the court rules in their favor, the creditor can file a judgment lien against you, which means that the court has permitted them to forcefully collect that debt from you.
The Court entered a judgment against you. When a judgment does not get paid, the Plaintiff is allowed to ask the Court to require the Defendant to come to a hearing so the Plaintiff can find out if the Defendant has any income or property which the Court can require the Defendant to use to pay towards the judgment.
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.
After the judgment is obtained, the creditor can enforce the lien right for the first ten years by attempting to foreclose on any real property or personal property the judgment debtor owns.
A satisfaction of judgment may be filed to inform the court a judgment or order has been satisfied. This event should not be used in place of a Satisfaction of Claim.
Ind. Code § 34-55-9-2. Judgments are valid for a period of twenty years.
(D) Satisfaction/Release of Judgment. Upon payment in full of a judgment, including accrued interest and court costs, the judgment creditor shall file a satisfaction/release of judgment and the Clerk shall note the satisfaction/release of the judgment on the Chronological Case Summary and on the Judgment Docket.
If the court rules in their favor, the creditor can file a judgment lien against you, which means that the court has permitted them to forcefully collect that debt from you. This allows them to take possession of your real estate holdings, personal property, or business.
