How much interest can be charged in a garnishment?

Answer 1

Good morning,

Long story short:

- In court ordered mediation (5/2012) agreed to settlement of $1724 less than originally owed ($5434, 6/2011) and not to file a judgement if defendant agreed to make timely monthly installments of $300/month

- $250 paid 6/29/12

- $500 paid 9/27/12 after meeting again (independently of the courts) and agreeing to start anew if timely payments were made from then on

- filed a judgment in February 2013 after making several contact attempts and receiving no money since 9/27/12

- 6/20/13 I learned defendant now has a full time staff position with an agency (we are both freelance independent contractors working for at least 12 - 15 different agencies so garnishment was not really possible until now.)

Question regarding interest on the Writ of Garnishment.

- is 90% illegal? My originally agreed upon contract states that a 5% penalty will be added every 15 days that full payment is not received. No money in 9 months at about 10%/month cumulative = $2664. That comes out to about 90% but the form does not allow for monthly cumulative interest. instead it's written as:

"______ Plus post-judgment interest, on $___ , at ___%, for period from ____, to ____, ___Year

? - How much can I put down as interest payment?

There is a 2nd line "Plus additional post-judgment interest"

? - How much can I add here?

? - How can I now recoup the $1724 lost in settlement plus the $2960 left unpaid from the settlement through this garnishment procedure? I want the garnishment total to equal $4684 from period of 9/27/12 to 6/27/13

I'm going this morning to file the Writ of Garnishment myself.

Thanks you in advance for your help!

Tatiana

tri.terp@Yahoo.com