Massachusetts  |  Credit and Debt Law

Legal Question

Asked on: 4/10/13, 6:39 am

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

Didn't find what you were looking for? Ask an Attorney!

Get answers from the top Attorneys
Ask Question

70 Answers given in the last few hours.

86611 Active attorneys ready to answer your question

Search Past Answers:
  Advanced Search