Hello, I was convicted of bank fraud in federal court in June of 2003. I was sentenced to 1yr incarcerated 3yrs probation & ordered to pay back restitution of $74,000 which was joint & several with a co-defendant. While on probation I paid back $37,000 exactly 1/2 of the restitution unknowingly assuming this was my portion of the debt. I was then made aware that both me & my co-defendant were both responsible for 100% of the debt till it was paid. Out of frustration from paying back 1/2 & the other party not paying a single dime I stopped making payments myself only giving up $1000-$2000 a yr from what ever federal tax refunds I should have received that were confiscated due to the federal lien. At this time, almost 10yrs from my conviction, 9yrs from my release from prison and 6 yrs from completion of my probation, the debt is still $29,000 and I am the only one who has paid anything towards it. My life is a lot different now, I've grown up & matured. I am looking to get married soon & also purchase a house. My question is there anyway I can get out of the responsibility towards what's left of this debt? And also how much time can the Feds keep this Lien, will I just owe this $ forever or is there any kind of time limit they have to collect it? Thank you in advance for your time
1 Answer from Attorneys
Court ordered restitution is part of the sentence for the criminal offense.
You could seek to and appear for a hearing on modifying or settin aside. Portion of the sentence but you should seek counsel.
Related Questions & Answers
Filed a small claims complaint for non-payment for advertising. Erred in filing an... Asked 3/29/13, 5:46 pm in United States Massachusetts Credit, Debt and Collections Law
I received letter from lawyer regarding chapter 183A of MAss General laws asking me... Asked 3/11/13, 11:52 am in United States Massachusetts Credit, Debt and Collections Law
What option do I have if I sold my business to my employee with a contract and a... Asked 3/02/13, 6:33 am in United States Massachusetts Credit, Debt and Collections Law
Whats the best way for my 26yr.no job,substance abuse,rehab's,lives at home,owes... Asked 2/28/13, 11:03 am in United States Massachusetts Credit, Debt and Collections Law
I moved to a new town in November 2011 and got a new phone number. Since then we get... Asked 2/21/13, 8:02 am in United States Massachusetts Credit, Debt and Collections Law