Legal Question in Credit and Debt Law in New York

Payment amount on a bad debt

I owe someone $750.00 on a $5,000 loan.They have already taken my car and now want the balance ($750.00) . Can I pay them ten dollars a month and be leagally safe? They sent me a letter saying the sheriff will come and take my van. Can they do this?.


Asked on 10/20/00, 4:19 am

1 Answer from Attorneys
David Wright Law Offices of David Wright

Re: Payment amount on a bad debt

Assuming there's still money owed on the judgment, I don't see how you could keep it unless you file for bankruptcy. In the alternative, a court might give you an Installment Payment Order, which would stop the creditor, if you stay on a specified monthly payment schedule.

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Answered on 11/17/00, 3:49 pm


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