Legal Question in Criminal Law in Virginia

Interest on Judgment

How long can the debt collector charge 20% interest on the remaining balance that owe? I have been paying since 2004.


Asked on 8/28/05, 3:09 pm

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Re: Interest on Judgment

It's unclear from your question whether you're talking about interest on a judgment amount obtained by a creditor or simply interest on the balance of a garden variety loan. If the former, the rate of interest on judgments in Virginia was, I believe, 6% as of July 1, 2004.

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Answered on 8/28/05, 9:07 pm


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