by larrysue » Tue Jun 02, 2009 06:55:10 PM
Wow! Thanks for your fast answer. I have acknowleged and agreed to pay a lump sum of $15k on a 29K combined debt (joint with commonlaw spouse). Then they want $100/m until 2013 when they want the total debt cleared. At $100/m this won't happen, but they won't budge. RBC has handed the account to a lawyer and he and I have been emailing but tonight he said the RBC demands the signed Judgment or they will recind any offers on the table and get a judgment against us for the full amount and auction our house. We have enough collateral to pay the debt, so the judge may just do that. However, we have been unable to get at the collateral because of our terrible credit - mine has plumetted to mid 400's and partner's is not much better. They have dropped further interest charges also until the debt is paid.
I can't understand that if we are paying 1/2 the debt they still want a Judgment for the remaining 1/2 even though we are going to make payments. We cannot afford a lawyer and it is my understanding that Legal Aid does not cover this type of suit.
Any advice or experience? Many, many thanks!
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