Re: Defendant with a default judgment

The interest rate on a judgment is set by statute. The interest rate in effect at the time of the entry of the jdgment is the rate of interest throughout the life of the judgment.

You may want to consult an attorney about whether the judgment collects interest if the language of the judgment does not mention it. Even if you prevail on the interest argument, you remain on the hook for the original judgment amount - not pocket change.

Re: Defendant with a default judgment

While a judgment is valid for 20 years in Florida, I doubt 12% interest is. Check with your County Clerk.

Re: Defendant with a default judgment

The judgment rate of interest is set annually by the Office of the Comptroller in Florida. There is a website where you can determine the rate set for the last number of years, though I don't know if the website will go back the date of your judgment. If you prefer to handle the matter through professional legal counsel, our office may be able to assist you.

Re: Defendant with a default judgment

In Florida, the judgment is good for 20 years. They can collect on it at any time during this period. The interest rate changes each year, but the judgment has accrued a great deal of interest. You should probably consult a lawyer about your options. You may want to consider bankruptcy, but that depends on your overall situation. We would be happy to discuss it with you. We offer a free initial consultation. Our office number is 5618640007.

Re: Defendant with a default judgment

Unless the judgment creditor has kept the judgment alive, it is probably too late for them to enforce the judgment now.