WebThe new interest rate is based on the rate in effect as of January 1. 7 This annual interest rate adjustment applies to the majority of judgments, with only a few exceptions not relevant to this article. 8 This new interest … WebThe effect of this is to extend the former judgment for an additional twenty-year period, and the person is entitled to the new interest rate for that year. Florida Judgment Statute of Limitations Law. The statute of limitation law for Florida judgments is enshrined in section 55.081 of the Florida Statutes. Under this law, judgments, orders ...

Advisory Legal Opinion - Statutory interest rate for judgments …

WebJul 1, 2024 · For example, if rate of post judgment interest in 2008 was 11%. The owner of the judgment would continue to collect 11% interest on the balance until the judgment was paid in full. An 11% interest rate would be a benefit to the judgment holder in years that inflation is low and the judgment interest rate dropped. Further, the opposite is true. WebJul 22, 2015 · In this article, we will focus on post judgment interest. Florida’s Chief Financial Officer (CFO) determines the interest rate. Prior to October 2011, the interest rate was adjusted every year by the CFO. In October 2011, Florida statutes were changed and the interest rate is now determined every quarter. For a detailed explanation of how … camouflage store

Prejudgment Interest and Post-judgment Interest

WebJan 1, 2024 · Florida has increased its Current Judgment Interest rates. As of January 1, 2024, the Interest rate on judgments is 4.25%. Current Judgment Interest Rates WebSep 19, 2011 · Florida set the first statutory interest rate in 1981 at 12%. The interest rate was intended to provide a uniform interest rate when a written contract did not provide for one. The original language of Fla. Stat. § 55.03 was simple: A judgment or decree entered on or after October 1, 1981, shall bear interest at the rate of 12 percent a year ... WebWhen a judgment or decree is rendered on a bond or other written evidence of debt providing for a lesser rate of interest, the judgment or decree bears interest at the rate specified in such bond or other written evidence of debt. History.--s. 1, ch. 16835, 1935; CGL 1936 Supp. 4493(1); s. 9, ch. 67-254. camouflage stretch recliner slipcover