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I have a June 2008 judgement for $1,000.00. I am submitting a writ of execution to the Las Vegas court. What is the accured interest and how is it calculated? Thank you.
1 ANSWER
R. Christopher Reade
Post-judgment interest in Nevada is calculated at a rate equal to the prime rate at the largest bank in Nevada plus 2 percent. The rate gets readjusted each January 1 and July 1 thereafter until the judgment is satisfied. You can find the Prime Interest Rate for Judgment collections here: http://fid.state.nv.us/Prime/PrimeInterestRate.pdf
As you can see, the Prime Rate has been at 3.25% for five years; therefore the Judgment Rate has been at 5.25% for five years.
Answered on Jan 14th, 2014 at 12:44 PM