FAQ - Small Claims Judgments

How do I calculate my interest?

A basic method for calculating simple interest on a judgment:
•    Step 1: Multiply $ (judgment) X (interest) % = (annual interest rate due)
•    Step 2: Divide (annual rate) by 365 = (daily interest amount)
•    Step 3: Multiply the daily interest amount times the number of days since the judgment was entered. (Note: every time a payment is made the interest must be recalculated.)
Resources:
•    Rate of interest for loan; interest on judgments A.R.S. § 44-1201

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This website has been prepared for general information purposes only. The information on this website is not legal advice. Legal advice is dependent upon the specific circumstances of each situation. Also, the law may vary from state-to-state or county-to-county, so that some information in this website may not be correct for your situation. Finally, the information contained on this website is not guaranteed to be up to date. Therefore, the information contained in this website cannot replace the advice of competent legal counsel licensed in your jurisdiction.

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