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 Minnesota, a judgment is the final decision made by a judge or jury in a lawsuit. It determines the amount of money the losing party (judgment debtor) must pay to the winning party (judgment creditor). The judgment will include the principal amount owed, along with any interest that accrues on that amount until it is paid. The interest rate is set by Minnesota statutes and may vary depending on the type of judgment. Additionally, the judgment may include court costs and, in some cases, attorney fees if the law or a contract between the parties allows for such recovery. Once entered, a judgment in Minnesota is enforceable for a period of ten years and can be renewed for another ten years. The judgment creditor has various means to collect the judgment, including wage garnishment, bank levies, and liens on property.