Legal Question in Credit and Debt Law in Texas

What interest rate and type of interest can I charge for an amount owed after a

Hello and thank you in advance for any help afforded to me!

I was the plaintiff in a lawsuit filed in 1999 in Dallas Co., Texas. I was successful at the trial and a judgment was given for approximately $65,000.

My initial question is how much can I charge the defendant in an annual interest rate and how can the interest rate be added to the judgment amount?

In other words, can I charge an interest rate per year on the judgment amount of $65K? If so, what is the highest interest rate that would not be usury in the State of Texas?

Once that maximum interest rate is determined and calculated for the year 2000, how is that new amount used to calculate the interest for 2001? Can I add the 2000 interest amount to the judgment amount to calculate year 2001's interest? This would be similar to compound interest as opposed to simple interest, where the amount is the same each year.

Can I calculate this interest monthly or does it have to be calculated annually?

Finally, what do I need to do legally to insure the interest is included with the final judgment amount when the defendant pays me the money he owes me?

Thank you in advance for your assistance.

--name removed--


Asked on 6/22/05, 9:50 am

1 Answer from Attorneys
Peter Bradie Bradie, Bradie & Bradie

Re: What interest rate and type of interest can I charge for an amount owed afte

If the rate of post-judgment interest has not been set by the court and entered in the final judgment, then that oversight will be almost impossible to correct.

Read more
Answered on 6/22/05, 9:59 am


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in Texas