The federal court has recently demanded an increase in my monthly restitution payment by 400%, what can I do?
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The federal court has recently demanded an increase in my monthly restitution payment by 400%, what can I do?
6 years ago I was convicted of conspiracy to commit mail fraud and several counts of mail fraud. During my time with the company in question my total salary for 5 years was less than 200K, as part of my sentence, the judge stuck me with restitution in the amount of $2,906,000. I did my time in prison and have less than 6 months left in my 3 years probation, my restitution is not over $3,350,000 due to the 3.9% interest being charged. This is insanity at best and a financial life sentence at worst.
Asked on November 23, 2011 under Criminal Law, Missouri
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If you have been convicted of a crime of conspiracy to commit mail fraud with several counts of actual mail fraud where you were ordered to make resitution of $2,906,000, you need to be aware that under the laws of all states in this country as well as federal law, orders of restitution as well as judgments accrue interest on the principal amount of the judgment until paid in full.
In California, the allowed interest on a judgment is ten percent (10%) per annum. The 3.9% interest on the restitution order is significantly less than what interest is in other states on judgments.
You can try and reach an agreement with your former employer to reduce the amount of the restitution order as a possible solution to your situation.
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