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Satisfaction is the fulfillment of an obligation. The term is often used in the context of contract law when one performs their duties under the contract. The term is also often found in the context of judgments in determining whether a party discharged their liability from a judgment.
How long does a CCJ stay on your credit file? It will be recorded on your credit file for six years from the date of the judgment. And in most cases, your credit file will already be affected by any missed payments or default notices issued before the CCJ.
Satisfaction and release states that a consumer has paid the full amount of debt that was owed to a creditor under a court judgment. A satisfaction and release prevents creditors from attempting to recover more money from the borrower or consumer.
You may dispute a judgment on your credit report based on the following arguments: The Debt Was Paid. The credit agencies will remove the judgment from your credit report if you can show that you did, in fact, pay your debt on time.
You may dispute a judgment on your credit report based on the following arguments: The Debt Was Paid. The credit agencies will remove the judgment from your credit report if you can show that you did, in fact, pay your debt on time.
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Judgments and Credit Scores Even a satisfied judgment will negatively impact a credit report. However, a paid or satisfied judgment will hurt a credit score less than an unpaid one. Even after a satisfaction and release has been generated, a satisfied judgment remains on a persons credit report for seven years.
Satisfaction is the fulfillment of an obligation. The term is often used in the context of contract law when one performs their duties under the contract. The term is also often found in the context of judgments in determining whether a party discharged their liability from a judgment.
The Satisfaction of Judgment form should be signed by the judgment creditor when the judgment is paid, and then filed with the court clerk. Dont forget to do this; otherwise, you may have to track down the other party later. Its easy to get a copy of a Satisfaction of Judgment form.
You can file bankruptcy and discharge the judgment. Or you can do nothing and let the judgment creditor forcefully collect. Regardless of how its done, once the judgment has been paid a satisfaction of judgment will be filed with the court.
Satisfaction and release is the formal paperwork stating that a consumer has paid the full amount owed under a court judgment. A satisfaction and release proves that they have paid their debt and prevents creditors from trying to recover more money from them.

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