Legal Question in Civil Litigation in Georgia

I had a judgement placed against me for unpaid services in Magistrate court in the state of Georgia. I currently making payments, but the plaintiff is using the Federal Reserve Interest rate of 1.75 percent compounded daily to the balance. Is this something they can do and collect on?


Asked on 5/25/18, 9:10 am

1 Answer from Attorneys
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

Interest must be paid on the judgment. Currently, the interest rate in Georgia is the Prime Rate plus three percent, compounded annually. This of course fluctuates and accrues. I believe the present prime is 4.75 so you should be paying 7.75%. If they are willing to reduce that to 1.75 they have given you a gift (get them to lock their generosity in writing!)

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Answered on 5/25/18, 9:22 am


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