Credit Card Glossary: Terms and Definitions
satisfaction and release
A satisfaction of judgment, sometimes called a satisfaction and release, is an official document showing that a court’s judgment has been fulfilled. In a debt collection case, the satisfaction and release is signed by the creditor who won the judgment and filed with the court after the debtor pays the judgment in full, or settles for an agreed fraction. If payments are made over time, the satisfaction and release can be completed after the final payment. Credit reports should note the satisfaction of the judgment, as well as the judgment itself, in the public records section.
Terms from A-Z
Search the CreditCards.com glossary for every credit-related term from "account holder" to "zombie debt." Select a letter for alphabetized terms and definitions.