• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

How to calculate interest on a small claim courts case

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

SeDonna

Junior Member
What is the name of your state? MI

I won my case in Small Claims Court. The defendant had 21 days to pay, and has not. I'm am filling out a Request for Ganishment form, and I need help to total the interest accrued to date.
 


dcatz

Senior Member
Your state’s rate is statutory, is based on the rate for 5-year Treasury Notes and changes twice a year. It’s very possible that the rate was stated in the judgment Order but, if it wasn’t, it seems safe to infer that it was a recent judgment.

Use the suggested PDF link. Find your interest rate, multiply the judgment amount by that rate, divide by 365 to get the daily rate and multiply by 21 days or however many it takes to prepare the paperwork.
 

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top