Reduction in Judgement Lien

[clamster]

What is the name of your state? New Jersey NJ

Hi:

I have a judgement lien of $70,000.0 against my interest in a property. The lien is about 5 years old at this time. About a year after it was filed I paid $11,000.00 toward the judgement (not voluntarily, through the seizure of a bank account) but there was never a reduction in the amount listed on the lien. Isn't there some sort of "Reduction in Judgment Lien" form that the creditor should have filed?

How do I go about making sure that this form is filed (if there is one)? and by not filing the form, has the creditor given up any rights to collect the lien?

Thanks.
clammy

[seniorjudge]

Q: Isn't there some sort of "Reduction in Judgment Lien" form that the creditor should have filed?

A: You can ask for a partial satisfaction of judgment from the creditor. You may have to pay for this and you will definitely have to pay for it to be recorded in the land deed records in the county where the land is located.

[clamster]

Hi:
Thank you for the rapid response.

Is the creditor required to give me the form if I ask for it?

Thanks,
Clammy

[seniorjudge]

Q: Is the creditor required to give me the form if I ask for it?

A: The GENERAL rule is that only a full satisfaction requires the creditor to give you a satisfaction of judgment.