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That answer will vary from state to state. In California, you can collect 10% per year on the oustanding balance. You take 10% of the outstanding judgment and divided that number by 365 to obtain the daily rate of interest. Multiply the number of days since the entry of judgment. Payments are applied to interest first and then to the principle. The interest is not capitalized.
First answer by Chslaw. Last edit by Chslaw. Contributor trust: 732 [recommend contributor]. Question popularity: 89 [recommend question]
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Post chargeoff judgement interest? How is interest accrued on a judgement?
