If I won a small claims judgment and it has an amount and a post-judgment interest rate of 12%, does this mean I am entitled to interest?

UPDATED: Apr 13, 2012

Advertiser Disclosure

It’s all about you. We want to help you make the right legal decisions.

We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.

UPDATED: Apr 13, 2012Fact Checked

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

If I won a small claims judgment and it has an amount and a post-judgment interest rate of 12%, does this mean I am entitled to interest?

How is the interest computed when the defendant has been ordered to pay $75 per month until satisfied?

Asked on April 13, 2012 under Bankruptcy Law, Washington


FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Under the laws of all states in this country, interest accrues on an unpaid judgment atr a certain rate of interest until paid in full running from the date of the judgment. In your case, you get 12 % per annum on your judgment from the date it was entered until paid in full.

Assuming the judgment debtor complies with the court order of paying $75 per month on the judgment that you have against him or her, you need to get an amortization chart of what the accrued interest would be on the $75 per month payment if timely made with respect to the judgment as a whole. You need to remember that the vast bulk of the initial payments on a monthly basis will be the accrued interest on the judgment with the other part principle initially.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption