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 Tennessee, a judgment is the final decision made by a judge or jury at the conclusion of a lawsuit. It specifies the amount of money the losing party (judgment debtor) must pay to the winning party (judgment creditor). Tennessee law also determines the rate of post-judgment interest that accrues on the unpaid amount of the judgment until it is fully paid. This interest rate is set annually by the Tennessee Department of Financial Institutions. Additionally, the judgment may include court costs and, in some cases, attorney fees if the governing statute or contract allows for their recovery. Once entered, a judgment in Tennessee is enforceable for ten years and can be renewed for another ten-year period. The judgment creditor has various legal means to collect the judgment, including wage garnishment, bank account levies, and liens on property.