What is Post-Judgment Interest?
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What is Post-Judgment Interest? – Personal Injury Lawyers
Post-Judgment Interest Can be Used to Ensure You Get Your Compensation Sooner Rather Than Later
Our attorneys and staff are dedicated to obtaining the maximum compensation possible for our clients’ personal injuries, including prejudgment and post-judgment interest. If you’ve suffered personal injuries because of someone else’s negligent or reckless actions, you may be entitled to compensation for your injuries. To ensure that you are fully compensated you should retain an experienced personal injury attorney who knows how to apply and enforce post-judgment interest to a court’s award. More about our Car Accident Lawyers here
Our attorneys have a successful track record of obtaining favorable judgments and enforcing post-judgment interest for our clients for over 20 years and may be able to put their unique combination of skill and expertise to work for you. Got Injured In An Accident – CALL SHAW
Post-judgment Interest and Personal Injury Cases
A personal injury victim can assert a lawsuit against the parties that caused their injuries under personal injury laws to recover compensation for those injuries and their associated medical expenses. The law also allows personal injury victims to attach post-judgment interest to their court award, which is intended to reimburse the injury victim for their lost ability to invest their judgment proceeds.
The Purpose of Post-judgment Interest in Personal Injury Cases
Post-judgment interest is designed to encourage parties that are responsible for causing someone’s personal injuries to quickly pay the judgment asserted against them and to prevent them from making delayed judgment payments by asserting frivolous appeals or through indifference. Notably, post-judgment interest is applied to the entire judgment, including prejudgment interest, court costs, and the compensation awarded for the personal injury victim’s injuries.
Importantly, courts have repeatedly stated that post-judgment interest is not intended to punish the party that caused a personal injury victim’s injuries; rather, post-judgment interest is intended to compensate the personal injury victim’s lost opportunity to invest and use their compensation after trial.
Calculating Post-judgment Interest in Personal Injury Cases
Calculating post-judgment interests in an injury victim’s personal injury case is often a very difficult task. Before discussing how to calculate the post-judgment interest in your personal injury case, it’s important to note that the process can quickly become complicated and will likely benefit from the close scrutiny and analysis that can only be provided by an experienced personal injury attorney like ours.
When attaching post-judgment interest to your personal injury case, your attorney will apply the guidelines provided by the Finance Code. Specifically, your attorney will apply the prime rate published by the Board of Governors of the Federal Reserve System, but they will adjust the prime rate to fit within the floor of 5% and ceiling of 15%. Your attorney will then apply the prime rate to your judgment, including prejudgment interest, court costs, and the compensation you’ve received for your injuries.
As you can see, calculating post-judgment interest in your personal injury case is an important and difficult process. Thankfully, our attorneys and staff are experienced in calculating and enforcing post-judgment interest against the party that caused your injuries. Our attorneys have made themselves available to provide a free consultation regarding your possible personal injury case any time, day or night.
