Legal Question in Credit and Debt Law in Delaware

I won a justice of the peace court case and the defendant was ordered to pay $2000.00. The order says plus court costs and post judgement at the legal rate of 5.75% per annum.

How do i calculate the interest due until he pays. Do i only get interest if he doesn't pay for a year? or do i get $0.315 cents a day...

2000x.0575=115 divided by 365 days equals $0.315 a day.

Asked on 11/19/11, 8:56 am

2 Answer from Attorneys

Brian F. Funk, Esq. Frederick K. Funk, LLP

The actual amount of "post-judgment interest" on a judgment's debt starts accumulating on the day after judgment was ordered by court.

Read more
Answered on 12/01/11, 9:53 pm

Related Questions & Answers

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