Q: What is the legal interest rate I can charge to collect money awarded to me in a civil case in Montgomery Co, MD?
A: From the date of judgment, interest accrues at the statutory legal rate on the principal judgment amount at 10% per annum, simple interest (meaning, you cannot charge interest on the unpaid accrued interest). Simply multiply the judgment awarded by 0.10, then divide by 365 to get the daily rate. Then multiply the daily rate by the number of days elapsed since the date of judgment if calculating interest due for less than a whole year.
Leonard A Englander and Cedulie Renee Laumann agree with this answer
A:
I agree with Counsel. It is generally 10% interest. There are some decent websites that will help you do the math if you need it.
However, if the judgment comes from unpaid rent, either in part or full, the interest rate would be 6%. Just wanted to tack that on in case it came from unpaid rent owed.
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