Select your state

Civil litigation

interest rates on judgments

Interest rates are compensation for the time-value of money, and are calculated on judgments (the amount of money one party to a lawsuit is ordered to pay another party) based on the applicable state or federal statutes. There are often different interest rates set by law for prejudgment interest (the interest on the amount owed before the judgment) and post-judgment interest (the interest on the amount owed after the judgment). The calculation of prejudgment and post-judgment interest rates vary from state to state (and in federal court), and require a careful analysis of the statutes.

In New York, interest rates on judgments are governed by state statutes. Prejudgment interest is typically awarded from the date of the breach or other violation of law until the judgment is made. The rate is set at 9% per annum unless a different rate is prescribed by contract or statute. Post-judgment interest is also set at 9% per annum and accrues from the date of the entry of the judgment until the judgment is paid. This rate applies to both civil and criminal judgments. It's important to note that these rates are subject to change, and parties involved in litigation should consult the current New York statutes or an attorney to obtain the most up-to-date information on interest rates applicable to judgments.

Legal Articles

State Statutes

Individual & Family Legal Plan

As a LegalFix member, you'll get expert legal services from a local law firm that treats you like an important client. Don't wait—be prepared for life's inevitable legal challenges starting today. And ask your employer, credit union, or membership group about preferred pricing opportunities.

Civil litigation

interest rates on judgments

Individual & Family Legal Plan

Articles

New-York State Code

Civil litigation

interest rates on judgments

New-York State Code

Articles