Legal Question in Credit and Debt Law in New York
judgement
a judgement was entered against me and exwife. she signed a contract with attorney to make payments. she defaulted. i was co-signer on orginal loan. with her default they froze my acct. do they have legal right to even though i had no legal contract with the attorney
2 Answers from Attorneys
Re: judgement
yes they do. You signed the original loan. You are responsible. Her agreement with an attorney to make payments against the debt does not affect your obligation (unless she pays all of it).
Re: judgement
This was unlucky. When you need a lawyer, well, a good one is invaluable.
In this case the act of co-signing made you a party to the contract. Since there was a default judgment, you must be able to show you have a reasonable defense to the original contract to have a chance in this case.
You may have had a longshot chance if you had not defaulted, but after the default, this one is dead and buried.
The best action is to contact the creditor and ask for a 'deal'. Maybe you pay 50% in cash in 6 months and if you don't, they go back to 10% of your paycheck for years. Your options are limited to this type of thing.
I am sorry that I have no creative ideas to help you.
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