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Froze account...

Plains, PA |

heres my next question, my account is froze due to a creditor... the judgement is for 2061.00 noted from the sheriffs office stamped signed delivered.. now the creditor is telling us we owe them interest... its now 2661.00 .. what is the amount that they are allowed to take... I would think its the amount of the judgement... without interest????

Attorney Answers 3

Posted

Generally, Pennsylvania law automatically allows a judgment creditor to increase the judgment amount to account for accruing interest.

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Posted

Judgments almost always carry interest. If it is not granted by law, then the judge usually adds it in on the final order of judgment. You're probably also paying attorneys fees and court costs as well.

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Posted

The legal rate of interest on a judgment in PA is 6% simple interest, not an interest rate on the debt, as a loan or credit card. It sounds like the judgment is a few years old. While it may be worth fighting the interest charges, you probably are better off settling this matter and getting on with your life, because it does not sound like the creditor is going away.

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