Legal Question in Business Law in Massachusetts

Interest rate

Is there an accepted interest rate that one should expect to be tacked on to the amount owed if you are on the losing end of a lawsuit. IE If I was suit and found to owe 10,000 and the suit took 2 years, what % interest should be tacked onto the original amount?


Asked on 3/15/07, 2:31 pm

2 Answers from Attorneys
Peter Dempsey Peter M. Dempsey, Attorney At Law

Re: Interest rate

Interest rate is determined by statute. Interest begins accurring on the date te complaint was filed. The rate used to be 7.5%. But I believe that it is higher now.

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Answered on 3/15/07, 3:14 pm

Re: Interest rate

Judgment interest is I believe 12% simple interest. If this is a suit based on a note and it has a higher interest rate, then the higher rate would apply to the note.

Good Luck.

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Answered on 3/15/07, 4:42 pm


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