Q: For Memorandum of Costs Form MC-012, do I calculate accrued interest on Principal including Costs I'm submitting?
I Used San Diego Court calculator, to input costs, and calculate accrued interest on Judgment. This online calculation incorporated the costs in determining accrued interest. Is this acceptable before costs are approved?
Costs approved by the court are included as part of the judgment amount, and thus accrue interest. But I am submitting the costs so technically they are not approved yet.
Also in #3 "Accrued Interest Remaining Due" -- it's not clear to me whether I state the interest rate and the principal remaining due or fill in the accrued interest calculation. Please help!
If #3 requires I input the amount of accrued interest calculation, is it the interest solely on the principal or okay to include costs that I am submitting when the interest is calculated?
A:
When filling out Form MC-012 for Memorandum of Costs, you should not include interest on costs that haven't yet been approved by the court. The accrued interest you calculate should only be on the principal judgment amount. Once the court approves the costs, they will become part of the judgment and can start accruing interest from that date forward.
For section #3, "Accrued Interest Remaining Due," you should input the amount of interest that has accrued on the principal judgment, not on the costs you're currently submitting. The interest rate should reflect the statutory rate for your case, and the calculation should only account for the principal amount until costs are approved.
So, when you submit the form, make sure you're only calculating interest on the original judgment principal. Costs will be included in future calculations once they're approved.
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