I had a judgement passed against me for$ 12,000 and 9% interest in 2003.I have made payments for over $16,000. Is it possible for me to ask for a forgiveness of judgement.
I hate to give you bad news, but if you paid $16,000.00 over a period of 12 years in equal monthly payments that would mean you paid $111.11 per month for 12 years. That would mean your current balance on the $12,000.00 judgment would be $10,559.55. If you continue to make monthly payments averaging $111.11 per month, it will take you around 80 more months or almost 7 years to pay off the remaining debt.
You really need to talk to a bankruptcy lawyer to see if filing a bankruptcy to discharge that debt and other debt that you may have is in your best interest. The bankruptcy lawyer may be able to settle the debt for you since the belief that you will file bankruptcy is the only bargaining tool that you have with the creditor.
Making an appointment to talk about bankruptcy as an option does not mean that you have decided to file a bankruptcy case. It just means that you want to find out the advantages and disadvantages of filing a bankruptcy case under your current circumstances. You can use the Avvo "Find a Lawyer" link above to search for an attorney in your area.
Answers and comments provided are for general discussion only. My comments are not to be considered legal advice and they do not create an attorney-client relationship.
South Carolina judgments expire after 10 years- was the judgment in SC?
I do not represent you in this matter.
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