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I have been garnished 3 times by the same creditor for a medical bill I couldn’t pay. The bill was 7 years ago and as of the last garnishment period, I had nearly paid off the original amount of the bill but I still owe nearly $4500 worth in interest. Is there anything I can do?
Asked on May 10, 2012 under Bankruptcy Law, Colorado
Answered 12 years ago | Contributor
Under the statutes of all states, a judgment accrues interest at the legal rate per statute of a given state ranging from 4.5% to 10% per annum (as in California) until paid in full.
In your matter you may have paid a substantial amount of the judgment against you (perhaps face amount), however the judgment accrued allowable interest as well that also is required to be paid to the judgment creditor.
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