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 Pennsylvania, 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 the judgment creditor. This amount can include the principal sum, interest accrued at the rate specified by state law, court costs, and potentially the attorney fees of the judgment creditor if the court orders such payment. The interest rate on judgments in Pennsylvania is generally set by state law and can vary. Once entered, a judgment is enforceable for a period of time, typically 20 years, and can be renewed. The judgment creditor has various means to collect the judgment, including wage garnishment, bank account levies, and liens on property. It is important for judgment debtors to be aware of their rights and any potential exemptions under Pennsylvania law that may protect certain assets from being used to satisfy the judgment.