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A judgment release is a document signed by the creditor saying that you have met your legal obligation to pay the debt. This is often called a release of judgment, a satisfaction of judgment, or a release and satisfaction of judgment.
How long before a debt becomes uncollectible in Indiana?
In most states, judgments last 510 years. However, in some states, like New York, they can be enforced for up to 20 years. State law determines how long a money judgment lasts. 💸 A money judgment is the most common type of judgment.
What is the statute of limitations on a Judgement in Indiana?
Every judgment and decree of any court of record of the United States, of Indiana, or of any other state shall be considered satisfied after the expiration of twenty (20) years.
How long does a judgement last in Indiana?
Once the judgment is entered, the creditor now called a judgment creditor can use the courts help to collect the debt. This might include garnishing your paycheck, freezing your bank account, or even trying to take your property. Responding quickly can help you avoid a worse-case scenario.
What happens after a judgement is entered against you in Indiana?
The only way to get rid of a money judgment is to settle it or pay it in full and have the judgment creditor file a Satisfaction of Judgment, or for the judgment to expire. Judgments are active for 10 years after the date the judgment was entered. They are quite easily renewed for another 10 years thereafter.
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