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 Maryland, a judgment is the final decision made by a judge or jury in a court case. It determines the amount of money that the losing party, known as the judgment debtor, must pay to the winning party, or judgment creditor. This amount can include the principal sum, interest accrued at a rate specified by Maryland law, court costs, and potentially the attorney fees of the judgment creditor if the court deems it appropriate. The interest rate on judgments in Maryland is set by statute and can vary depending on whether the judgment is based on a written contract or not. Once entered, a judgment is enforceable for a period of 12 years and can be renewed. The judgment creditor has various means to collect the judgment, including wage garnishment, bank account garnishment, or placing a lien on the debtor's property.