Legal Question in Family Law in California
Intrest on spousal support
I know there is 10% simple intrest added to back spousal support. What I need to know is how is it calculated? Is it yearly, and untill the date of remarriage or the present?
Thank you
Asked on 7/19/04, 7:04 pm
1 Answer from Attorneys
Lyle Johnson
Bedi and Johnson Attorneys at Law
Re: Intrest on spousal support
Interest is 10% per year. Interest is not paid on the interest only on the principle. each payment is applied first to interest and then principle. This if the principle is $12,000 the interest would be $100 per month. The monthly would have to be more than $100 for the principle to be reduced.
Answered on 7/19/04, 8:41 pm
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