Q: On MC-012 form re #3 "Accrued Interest". Do I fill in interest amount or the principal that interest is accruing on?
MC-012 Form #3: "Accrued Interest remaining due. I declare interest accruing at the legal rate of 10% on the unpaid principal amount of ___X__"(This is clear that I fill in the principal.)
However, 2nd part of #3 is confusing -- do I fill in the amount of accrued interest or again fill in the principal remaining due? #3 further says:
"and __% on the unpaid principal of __ from the date of entry or renewal and on balances from date of any partial satisfactions or credits to principal, remaining due in the amount of __________. <----- Is this for ACCRUED INTEREST OR PRINCIPAL?
NOTE: No payments have been made on the judgment. I'm filing the Memorandum of Costs to add costs and accrued interest. So do I put 'zeros' in the second part of #3 or again fill in 10% of principal?
2nd question - Using San Diego Court calculator, to input costs, online calculation incorporated the costs in determining accrued interest. Is this acceptable before costs are approved?
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A:
For the second part of #3 on the MC-012 form, you should fill in the amount of accrued interest, not the principal. The form's first part already covers the principal amount, and the second part focuses on how much interest has accumulated based on that principal. So, in the blank for "remaining due in the amount of," you enter the total amount of accrued interest.
Since no payments have been made on the judgment, it would make sense to include the accrued interest up to the date of filing. If you're unsure about how to calculate the exact amount, you could reference an online calculator or manually compute it based on the legal interest rate of 10%.
As for your second question, incorporating costs into the calculation of accrued interest before the costs are officially approved can be problematic. Typically, you should wait until the court approves the costs before factoring them into the interest calculation. However, double-check with local court rules or legal advice to ensure you are following the correct procedure.
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