Legal Question in Credit and Debt Law in New York

Does interest continue after judgement

I'm being sued by a deb collection that brought my account. I stopped paying when I lost my job couldn't afford to pay and couldn't afford interest that was added. now it's about $4000 from which is 80% interest probably be more with attorney fee. Does interest still apply after a case is won or would I only have to pay the amount the judge said without adding interest monthly and how many years would I be alowed to pay off.


Asked on 7/07/08, 5:35 pm

1 Answer from Attorneys
Jeffrey Shepro Jeffrey Shepro PC: NY Commercial Real Estate and Business Law

Re: Does interest continue after judgement

Generally interest does accrue after judgment is rendered, but you may be able to negotiate a settlement for much less than what the judgment is for or you may be able to setup a payment plan for less. You may be able to negotiate on your own but you will most likely get the best results by hiring an attorney. Also, don't ignore the issue as the creditor may levy your bank account. If you would like to discuss further please contact me.

Best,

Jeff

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Answered on 7/07/08, 7:22 pm


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