DoI owe interest on my garnishment from the time of judgment or from when they begin garnishing my wage?

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DoI owe interest on my garnishment from the time of judgment or from when they begin garnishing my wage?

I’m being garnished the judgement was ruled 2 years ago; my wage wasn’t garnished until 10 months ago. I owe 8% interest on it. Do I owe interest for the 27 months it took for the lawyer to contact my employer about getting their money?

Asked on July 11, 2011 under Bankruptcy Law, Ohio

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

On judgments owed, the law is pretty clear that interest accrued on the judgment at the legal rate of the State where the judgment arosefrom the time of entry of the judgment.

Since the judgment arose two years ago, interest on the judgment started back then. You owe interest on the judgment's stated amount going back twenty-seven months even though it took a while for the wage garnishment begin. You probably knew about the judgment two years ago, Had you began paying it down, you would not have had the accrued interest to pay now.

If you cannot pay the whole amount now, perhaps working out a payment plan with the judgment creditor is an option for you?

Good luck.


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