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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.
Generally, the creditor gives the debtor (person who owes the money/property) the completed Satisfaction of Judgment (form GF-129) to file with the Clerk of Circuit Court and pay the filing fee. Satisfactions of Judgment can be filed electronically via the Wisconsin Courts System eFiling.
A judgment can be renewed by the judgment creditor if it is not satisfied (paid) within 10 years from when it was entered.
Deadline in Years The statute of limitations for most debts in Minnesota is six years, including open accounts and written contracts. Creditors and debt collectors can file a lawsuit for bdocHub of contract under Minnesota law within this period to hold you legally responsible for an unpaid debt.
A judgment for money in Minnesota does not survive indefinitely. Instead, a judgment only survives for ten years after its entry and any action to collect after that ten-year time frame is disallowed.
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What Is Satisfaction and Release? 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.
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.
A Satisfaction of Mortgage, also known as a Mortgage Lien Release, is a legal document provided by the mortgagee (financial institution) advising that the mortgage has been paid in full, all terms of the loan have been satisfied and there will no longer be a lien on the property.
Once a judgment is docketed, a judgment lien in Minnesota generally lasts for 10 years.
After the California judgment has been served on the debtor, the creditor must wait 30 days to enforce the judgment, pursuant to CCP 1710.35. After 30 days have passed, the domesticated judgment can be enforced in exactly the same manner as a judgment originally entered in California.

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