Legal Question in Credit and Debt Law in Illinois

Settled in court to make payments on merchandise. I won't bore you with the details. My court order stated the first payments to be made by the 30th of August. Each month, I've paid on the 30th. In February i paid a month in advance.

The lawyer representing the company has charged interest after every payment I have made. The interest is being charged from the first of each month. For example, i made a payment August 30, 2016. I was charged interest Aug 1-Sep 1...and the same is true for every payment i have made since. Even the month that i made a double payment, i was charged interest.

Am I liable for this? This is ridiculous.

Asked on 6/07/17, 4:42 am

1 Answer from Attorneys

Jonathan Shimberg Shimberg and Crohn, P.C.

Once a judgment is entered a creditor is entitled to 9% interest on the judgment. Thery could choose to waive it, or not.

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Answered on 6/07/17, 4:45 am

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