Incurring interest since judgement

[momofrose]

What is the name of your state?NJ

Judgment by Citicorp in 2000 - sent to attorney in May 2003 - threatened property lien. (debt due to previous divorce)...Due to the fact that the deed is in both mine and my new husband's name, I couldn't bear the thought of my husband having to endure alien on the house.property. I made an agreement to pay $200.00 a month (the debt was $10,000.00 when starting)..since then I have asked for a statement of debits/credits, and have come to find out that the interest being charged on the account is so far almost $2900.00...almost the amount of payments I am making...

I thought that once a judgment was issued that interest could no longer be accrued. At this point I will be paying this forever without it ever going down

Any advise??

Thank you for your help

[Ladynred]

What you're seeing is the interest accruing on the judgment itself. Judgments accrue statutory interest for as long as they go unpaid. So, you're looking at several YEARS worth of interest on the judgment.