Legal Question in Civil Litigation in California
Judgments
I have a Judgment against me for $ 2,425. When I contacted the law firm to arrange payment they told me it would be $ 3,466. How is this possible and how much am I obligated to pay to clear this up?
2 Answers from Attorneys
Re: Judgments
The increase could be for many things, such as attorneys fees and costs of suit which the plaintiff had to pay to go after you. Also, unpaid judgments earn interest at 10% from the date the judgment was entered until they are paid.
Re: Judgments
You do not say how long ago the judgment was originally entered against you.
This is important, because under California law every money judgment accrues interest at the rate of 10% per annum, until the day that it is paid.
You are entitled to a written calculation of the exact amount owing from the judgment creditor, including all accrued judgment interest, as of the day that you will pay off the judgment. Even if the amount you pay does not completely satisfy the judgment with accrued interest, the amount you pay must be credited against the amount owing, and the interest should only be calculated on the balance remaining.