Satisfaction of Judgment - New York

Satisfaction of Judgment is a legal document that was released by the New York Supreme Court - a government authority operating within New York.

FAQ

Q: What is satisfaction of judgment?A: Satisfaction of judgment refers to the process of settling or paying off a court-ordered judgment. It means satisfying the debt or obligation decided by a court.

Q: How can I satisfy a judgment in New York?A: To satisfy a judgment in New York, you can typically do so by paying the judgment amount in full to the court or the creditor. You may also be able to negotiate a payment plan or offer to settle the judgment for a reduced amount.

Q: How long do I have to satisfy a judgment in New York?A: In New York, a judgment creditor has 20 years to collect on a judgment. However, it is generally advisable to satisfy the judgment as soon as possible to avoid additional interest, penalties, or enforcement actions.

Q: What happens if I don't satisfy a judgment in New York?A: If you don't satisfy a judgment in New York, the judgment creditor may take legal action to enforce the judgment. This can include garnishing your wages, placing liens on your property, or seizing your assets.

Q: Can I dispute a judgment in New York?A: Yes, you can dispute a judgment in New York by filing a motion to vacate or set aside the judgment. You will need to provide valid legal grounds for the dispute, such as lack of proper service or a mistake in the judgment.

Q: What is a satisfaction of judgment document?A: A satisfaction of judgment document is a legal form or document that acknowledges the settlement or payment of a judgment. It serves as proof that the judgment has been satisfied and can be filed with the court.

Q: Can a satisfaction of judgment be removed from my credit report?A: Yes, a satisfaction of judgment can be removed from your credit report. Once you have satisfied the judgment, you can request that the credit reporting agencies update your credit report to reflect the satisfaction of the judgment.

Q: Do I need a lawyer to satisfy a judgment in New York?A: While it is not required to have a lawyer, consulting with a lawyer can be helpful in understanding your rights and options for satisfying a judgment in New York. A lawyer can also assist you in negotiating with the judgment creditor or filing any necessary legal documents.