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Civil litigation

judgments

The judgment is final decision made by the judge or jury that reflects how much the party who lost the lawsuit (the judgment debtor) owes the party who won the lawsuit (the judgment creditor)—including the rate of interest owed on the amount of the judgment until it is paid, the amount of court costs, and possibly the amount of the judgment creditor’s attorney fees the judgment debtor must pay as part of the judgment.

In Illinois, a judgment is the final decision made by a judge or jury at the conclusion of a lawsuit. It determines the amount of money the losing party, known as the judgment debtor, must pay to the winning party, or the judgment creditor. The judgment will include the principal amount owed, as well as any interest that accrues on that amount until it is paid. The rate of interest is set by state law, which in Illinois is generally 9% per annum for judgments unless a different rate is contracted for in the underlying agreement. Additionally, the judgment may include court costs and, in some cases, attorney fees if the law or the parties' agreement allows for the recovery of such fees. Once entered, the judgment creditor can take steps to collect the judgment if it is not voluntarily paid, including wage garnishment, bank account levies, and liens on property.

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Civil litigation

judgments

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Civil litigation

judgments

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