1. What is NJ Post Judgment Interest?

New Jersey post-judgment interest is calculated at an annual rate based on the state fund return plus 2%. This interest accrues on money judgments from the date of entry until paid in full.

2. How Does the Calculator Work?

The calculator uses the simple interest formula:

Where:

• \( Principal \) — Original judgment amount (USD)
• \( Rate \) — Annual interest rate (decimal)
• \( Days \) — Number of days interest has accrued

Explanation: The formula calculates simple interest by multiplying the principal by the daily rate (annual rate divided by 365) and then by the number of days.

3. Importance of Calculating Judgment Interest

Details: Accurate interest calculation ensures creditors receive full compensation for delayed payment and helps debtors understand their total obligation.

4. Using the Calculator

Tips: Enter the judgment amount in USD, annual interest rate as a decimal (e.g., 0.05 for 5%), and the number of days since judgment. All values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What is the current NJ post-judgment interest rate?
A: The rate changes annually. Check the New Jersey Court website for the current rate which is based on the state fund return plus 2%.

Q2: Is the interest compounded?
A: No, NJ post-judgment interest is simple interest, not compounded.

Q3: How are partial payments applied?
A: Payments are typically applied first to accrued interest, then to the principal.

Q4: Does interest continue to accrue during appeals?
A: Generally yes, unless the court orders otherwise.

Q5: Are there any exceptions to post-judgment interest?
A: Certain government entities may be exempt from paying interest on judgments.