[Fredslist] A question about an 8-year-old judgment

[Phyllis Dubrow]

Dear Gotham,

 

My client's father died last year, owning a coop apartment in Brooklyn which
my client is now selling.

 

Seems that Dad had gotten a judgment against him for a credit card debt of
$37,000 - in 2008.  The debt was purchased by Sacor Financial Inc., in
California, and, with interest @ 9%, it's now over $70,000.00.

 

The judgment is recorded in Kings County and came up on a lien search.  

 

My client can't afford to pay off the judgment before the closing - AND
there will be sufficient money from the sale to pay off the full amount.  

 

Does my client have any leverage for negotiating the debt down?  

 

Thanks for your wisdom.  

 

Phyllis E. Dubrow | Attorney at Law

60 East 42nd Street, Suite 4600 | New York NY  10165

T: (212) 661-2885 | F: (212) 409-8682 | E: pdubrow at pipeline.com

 

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