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  • 1.  Post-judgment Interest on a child support arrearages

    Posted 02-26-2018 02:25 PM

    Hello all:

     Hoping for help on the following:  How do I calculating post-judgment interest on a child support arrearages?

     All I have so far is that:

    1. Interest rate is currently set at 0.50% pursuant R. 4:42-11
    2. The amount of interest accrues as arrearages accumulate. Pryce v. Scharff, 894 A. 2d 668 (Appellate Div. 2006)

     But what's the actual formula/calculation? How is it compounded?

    Any help is very much appreciated.

     Thanks - Bill



    ------------------------------
    WILLIAM N. SOSIS, ESQ.
    SOSIS LAW, LLC
    Rochelle Park Municipal Complex
    151 West Passaic Street, 2nd Floor
    Rochelle Park, New Jersey 07662
    Website: www.sosislaw.com
    E-Mail: [email protected]
    Tel: (201) 655-6400
    Fax: (201) 781-7855
    ------------------------------


  • 2.  RE: Post-judgment Interest on a child support arrearages

    Posted 02-26-2018 02:33 PM
      |   view attached

    Keep in mind that it's only .05% "to the jurisdictional limit of the special civil part", otherwise you add 2% to that, and that .05 is one year only (it was different in different years). So, if over $15,000 is owed, it's 2.5%, not .05%.

    How to calculate? Probation is supposed to do it, but any spreadsheet program should handle it easily. Just don't compound it -- it's simple interest. A sample is attached (but this one was easier to do since it was a solid amount, not with more added to the base amount owed each month).

    <x-sigsep></x-sigsep>

    David Perry Davis, Esq.
    ----------------------------------------------------
    www.FamilyLawNJ.pro
    ----------------------------------------------------
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    57 Hamilton Avenue -- Suite 301
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    Interest.pdf   72 KB 1 version
    Original Message


  • 3.  RE: Post-judgment Interest on a child support arrearages

    Posted 02-26-2018 02:53 PM
    You rock David.  Thanks!

    ------------------------------
    WILLIAM N. SOSIS, ESQ.
    SOSIS LAW, LLC
    Rochelle Park Municipal Complex
    151 West Passaic Street, 2nd Floor
    Rochelle Park, New Jersey 07662
    Website: www.sosislaw.com
    E-Mail: [email protected]
    Tel: (201) 655-6400
    Fax: (201) 781-7855
    ------------------------------

    Original Message