How do I calculate the amount of interest owed on a small claims court judgment?

In California, small claims court judgments are subject to interest. The amount of interest owed is determined by applying the legal rate, which is the higher of 10% per year or the amount set forth in the judgment. To calculate the amount of interest owed, first determine the amount of the judgment. This is the amount that is ordered to be paid. Once the amount of the judgment is known, add the legal rate of 10% to the total amount of the judgment. This percentage should be applied for each year or part year since the time that the judgment was first entered in small claims court. To illustrate, if a judgment of $1000 was entered three years ago, the amount of interest owed would be calculated by taking the judgment amount of $1000 and adding 10% for each year. This would equal 30% of the judgment amount ($300). Adding the interest of $300 to the original judgment amount of $1000 would result in an amount owed of $1300. It is important to note that in some cases the amount of interest owed can differ from the legal rate. This is due to the fact that California law permits the court to set a different rate if it is reasonable. If a different rate was set in the judgment, such as 6%, the amount owing should be calculated by taking the judgment amount and adding 6% for each year or part year since it was entered.

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How do I calculate the amount of interest owed on a small claims court judgment?

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