Judgment collection module

Including prejudgment interest and court fees that bear interest or not

This highly sophisticated module offers a unique tool to easily collect judgment awards when prejudgment interest is already computed and/or court fees included in the amount due to the plaintiff.

Calculations can be done using simple or compound interest.

Example:

• Collection of a $75,000 judgment including prejudgment interest (already computed) and court fees
• Post judgment rates are variable (Texas rates in this example)
• Defendant agrees to pay $2,000 per month but does not respect this schedule (unpaid, late, partial payments)

• Include $6,000 court fees and $5,000 prejudgment interest (no interest on these). This is easily entered with the Judgment link above.

• We compute and if all goes well, 34 payments will be required to refund the judgment award that includes postjudgment simple interest; court fees (no interest) and prejudgment interest (no interest)
• Second part of judgment ($15,250) with interest starting only on 04/17/2006
• Various events included and updated over time… (see comments in schedule)
• Blue lines indicate balance for pre judgment interest and/or court fees
• Starting 09/01/2006, we decide to recompute the equal payments to repay the total amount owed in 19 months.

The Judgment Info button allows you to see, for any line, the court fees and prejudgment interest repaid, the interest (case being) and the balance at any point in time.

Margill can include just about any repayment scenario however complex!