Legal Question in Credit and Debt Law in Virginia
I paid back $18,347.00 back on a judgment for the max amount in Va. for a court to charge is $15,000.00. My problem is that it have had $16,000.00 worth of interest assigned to it since inception of the judgment(s) which began in 2002 and as of today I'm being told that I still have a balance due well over $24K, is there anything I can do? As I mentioned the judgment was for $15K and I paid back a total of $18,347.00. I was also told that this money paid is just the interest portion not the principal which mean I will never be able to end this madness!!
2 Answers from Attorneys
Not sure why you would pay a penny more than the judgment or why there is more than one judgment. You may need to have an attorney look at this. Smells a bit fishy to me.
That sounds like awfully high interest for a judgment, but it's possible. If you can't pay it, and if that is the right calculation, you may want to consider whether bankruptcy is an option for you.
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