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 Wyoming, a judgment is the final decision made by a judge or jury at the conclusion of a lawsuit. This decision determines the amount of money the losing party, known as the judgment debtor, must pay to the winning party, or judgment creditor. The judgment will include the principal amount owed, as well as any applicable interest that accrues on the judgment amount until it is paid in full. The legal rate of interest on judgments in Wyoming is set by state statute, which can change and should be checked for the current rate. 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 is enforceable for a period of time specified by state law, and the judgment creditor can take various legal actions to collect the debt, such as wage garnishment or property liens. It is important for both judgment creditors and debtors to understand their rights and obligations under Wyoming law regarding the enforcement and satisfaction of judgments.