How much interest can be charged in a garnishment?
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