Legal Question in Credit and Debt Law in New York

Credit card debt judgement

In 1998, I was one of thousands who went to a lawyer in Albany, NY, who was advertising that he could cut your outstanding credit card debt in half. That same year I received a judgement against me from Providian for debt owed. Since then, this lawyer (Andrew Cappoccia, later Daly Law Centers) has been forced out of business and brought up on federal charges for misappropriation of funds that were to go toward paying off customers debt. Because of this, I am most likly out $5000 that I had given to them to pay off my credit card debt, and now the Chase (who took over the debt from Providan) is calling for their money owed plus interest.

I have two questions:

1) Do judgements have a statute of limitations under which they must be acted on?

and,

2) What should I do since I can't pay the full amount of the debt off now?


Asked on 4/07/04, 10:58 am

1 Answer from Attorneys
Guy Lewit Guy Mitchell Lewit, Esq.

Re: Credit card debt judgement

Judgments are valid and enforceable for 20 years. THey can be extended beyond that. WHile they are in effect, interest accrues on the judgment amount at 9% per annum.

You can call the creditors and do what your lawyer should have done...try to make a deal and get monthly payments WITHOUT INTEREST. Tell them you'll have to file bankruptcy if they don't cooperate...

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Answered on 4/07/04, 11:37 am


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