Q: How can I get a credit union to drop post judgment intrest?
I paid the principle , prejudgment interest court cost and attorney fees and now I have a garnishment for an additional $7,800.00
A: Talk to a debt defense atty. While it is late in the game, you never know...
A:
Post judgment interest is usually at the rate of 7% per year. If this represents only one year of post judgment interest, your judgment was for $111,428 or so. I can see why the Credit Union sued you, it is a lot of money. On the other hand, if it was over multiple years that you kept and used the money that you owed the Credit Union, their attorneys probably don't look on you favorably, even with all you paid off. If you have the ability to pay some of this debt, then you should contact them and negotiate a reduction for an immediate pay off. The interest will continue to accumulate interest, so you could be paying $546 per year to continue to have this debt hanging over you.
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