Legal Question in Credit and Debt Law in New York

Re: Judgements

Satisfaction of a money judgment occurs when the judgment debtor pays money to the judgment creditor. The satisfaction may be partial or the satisfaction may be in full. In the event of satisfaction, it is typically (under state law) the responsibility of the judgment creditor to file a declaration with the court and send a conformed copy (date stamped by the court) of this declaration to the judgment creditor that either partial or full satisfaction of the judgment has been made by the judgment debtor. Credit reports on judgment debtors issued by credit reporting agencies should reflect all partial and full satisfactions of judgments. You must demand by certified letter to the attorney for the judgment creditor that they file the satisfaction of judgment with the court wherein the judgment was entered (and any other county where the judgemnt mayhave been transcripted) and that a stamped copy of the satisfaction of judgment be mailed to you. There is a possibility that you may have to pay for this. They have to comply with your request within a certain period of time or they can be liable for damage to your credit. You should send your stamped copy (keep a copy for your own records) to the various reporting agencies so that they may update your credit history and show the judgment was satisfied...IT STAYS ON YOUR CREDIT HISTORY FOR 6-7 years...IT IS, AFTER ALL, A CREDIT HISTORY...they won't delete the judgment...they'll only hsow it was paid off.

Re: Judgements

Here is a reprint of the relevant section of the law as per my previous answer:

CPLR (civil Practice Law & Rules) Section 5020:

S 5020. Satisfaction-piece. (a) Generally. When a person entitled to enforce a judgment receives satisfaction or partial satisfaction of the

judgment, he shall execute and file with the proper clerk pursuant to subdivision (a) of section 5021, a satisfaction-piece or partial

satisfaction-piece acknowledged in the form required to entitle a deed to be recorded, which shall set forth the book and page where the

judgment is docketed. A copy of the satisfaction-piece or partial satisfaction-piece filed with the clerk shall be mailed to the judgment

debtor by the person entitled to enforce the judgment within ten days after the date of filing.

(c) When the judgment is fully satisfied, if the person required to execute and file with the proper clerk pursuant to subdivisions (a) and

(d) hereof fails or refuses to do so within twenty days after receiving full satisfaction, then the judgment creditor shall be subject to a

penalty of one hundred dollars recoverable by the judgment debtor pursuant to Section 7202 of the civil practice law and rules or article eighteen of either the New York City civil court act, uniform district court act or uniform city court act; provided, however, that such penalty shall not be recoverable when a city with a population greater than one million persons is the judgment creditor, unless such judgment creditor shall fail to execute and file a satisfaction-piece with the proper clerk pursuant to subdivisions (a) and (d) hereof within twenty days after having been served by the judgment debtor with a written demand therefor by certified mail, return receipt requested.

read the section carefully...it basically says you should demand the attorney who filed the judgment file a satisfaction of judgment and if he doesn't do it within 20 days...you can get $100 from the judgment creditor.