My ex owes me $20,000, can I get interest on the money?
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My ex owes me $20,000, can I get interest on the money?
Approximately $10,000 should have been given to me 2 1/2 yers ago and another $10,000 should have been given to me 8 months ago. This was some real estate that we owned as community property and was finally liquidated. My ex is not disputing that he did not pay me. We just want to know if I am entitled to interest on that money? My investment accounts earn over 15% (my financial advisor told me this).
Asked on September 28, 2012 under Family Law, California
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Under the laws of all states in this country a debt owed another person that is readily ascertainable runs interest at the allowable rate per the laws of that particular state.
If you do not have a signed promissory note or court order by the person who owes you the money that you are writing about with principle and interest stated, monthly payments and due date, you should consult with an attorney about the need for such and the possible running of the statute of limitations on such a debt if there is no court order in place as to it.
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