 Pre-Judgement Interest Cl (by Lucy [IN]) Jul 16, 2026 11:24 AM
 Pre-Judgement Interest Cl (by Richard [MI]) Jul 16, 2026 12:50 PM
Pre-Judgement Interest Cl (by Ray-N-Pa [PA]) Jul 16, 2026 1:13 PM
Pre-Judgement Interest Cl (by Scott [IN]) Jul 16, 2026 2:25 PM
Pre-Judgement Interest Cl (by Scott [IN]) Jul 16, 2026 4:23 PM
Pre-Judgement Interest Cl (by Lucy [IN]) Jul 16, 2026 6:20 PM
Pre-Judgement Interest Cl (by Robin [WI]) Jul 17, 2026 6:40 PM
Click here to reply to this discussion.
 Click Here to send this discussion to a friend
Pre-Judgement Interest Cl (by Lucy [IN]) Posted on: Jul 16, 2026 11:24 AM
Message:
I had a tenant move out. Finally have a lawyer working on it. And they are having me sign an affidavit of Debt. Which states no interest assigned to the debt. I asked if I could charge interest as it's been going on for a a few years. I was told no, because as they said: "Regarding your question about interest, unless stated in the lease agreement, there is no interest prior to judgment at which time interest accrues at 8%. I looked through the lease again and it does not appear that it has a clause regarding pre judgment interest."
My question is, do you have an interest accrued on owed debt prior to judgement and if so, could you share?
--208.67.xxx.xx |
Pre-Judgement Interest Cl (by Richard [MI]) Posted on: Jul 16, 2026 12:50 PM
Message:
Good idea to put that in there. Some states have limits and what they call usury laws. Look it up in your state so you don't go over that.
I just use 10 percent compounded monthly/
I think 2 percent per month compounded monthly would be better. --174.84.xxx.xx |
Pre-Judgement Interest Cl (by Ray-N-Pa [PA]) Posted on: Jul 16, 2026 1:13 PM
Message:
In Pa we can collect interest on a judgement. Interest on a debt before a judge calls it a debt, would be a gutsy call. Does your lease already have late fees? --98.17.xx.xx |
Pre-Judgement Interest Cl (by Scott [IN]) Posted on: Jul 16, 2026 2:25 PM
Message:
After getting an Indiana small claims court judgment, you are allowed to charge your tenant 8% per year simple interest. Interest starts the day your judgement is granted. --162.204.xxx.xxx |
Pre-Judgement Interest Cl (by Scott [IN]) Posted on: Jul 16, 2026 4:23 PM
Message:
You have little chance of unilaterally imposing pre-judgment interest charges on a tenant that is not covered in your lease.
I've never tried pre-judgment interest in my lease, so I am uncertain how Indiana law treats this. --162.204.xxx.xxx |
Pre-Judgement Interest Cl (by Lucy [IN]) Posted on: Jul 16, 2026 6:20 PM
Message:
oh so I learned a lesson and have a new clause in my lease. See other msg on the clause. --208.67.xxx.xx |
Pre-Judgement Interest Cl (by Robin [WI]) Posted on: Jul 17, 2026 6:40 PM
Message:
In WI, it only takes about six weeks to get from filing to judgment. I don't think it's worth the hassle to try to collect for those six weeks. But then, I also don't let my tenants get months behind in rent, either. The last rooming house tenant I evicted was for $125 shortfall. It was more by the time the court forced him out. --108.201.xxx.xxx |
Click Here to send this discussion to a friend
Report discussion to Webmaster
Reply:
|
|