Legal Question in Credit and Debt Law in Texas
Judgement
What are the rate(s) of interest and formula(s) used for financial judgements still uncollected for Dallas County, Texas, age being of five years?
Asked on 6/07/05, 3:44 am
1 Answer from Attorneys
Peter Bradie
Bradie, Bradie & Bradie
Re: Judgement
The rate of postjudgment interest should be set out in the judgment itself. Five years ago that would have been 10% simple interest, but look at the language in either the judgment itself or an abstract of judgment if one exists.
If there was a higher contractual rate between the parties, that could be carried forward in the judgment as well.
Answered on 6/07/05, 5:52 am
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