indebt007 Posted February 24, 2012 Report Share Posted February 24, 2012 Hi Everyone,Any input on my situation would be greatly appreciated! I have been garnished for the past two years and thought I was slowly paying it off. However after looking at the writ of garnishment today I think they have calculated how much I owe incorrectly and are adding more interest than they should. Can anyone help and tell me if this is correct? Here’s exactly what’s on my writ of garnishment and how much they are taking. If you notice #3, the interest due on judgment taken is double what 8% should be.1. Original Debt: 13,338.172. Garnishment period: 180 days*3. Plus any interest due on Judgment (8.0000% per annum)= $2100.814. Taxable Costs (including estimated cost of service of this Writ)$541.75. Less any amount paid- $7,525.316. Principal Balance/Total Amount due/owing= $8,455.34*If you calculate 8% of the 13,338.17 that comes to $1,067.05 NOT $2100.81.I looked through the last few writs & they always charge me around 16% interest, and the taxable costs have increased each time. Plus I am charged more interest EVERY time they serve me which is every 6 months, not every year which I thought was per annum.-Can anyone help? Do you know how the $2100.81 interest could be correct for 8% interest? -Do you know if per annum means annual? -If so, should I be getting charged this 8%+ interest every 6 months when I’m served or should it actually be every year? Thank you so much in advance for any help!!! Link to comment Share on other sites More sharing options...

legaleagle Posted February 25, 2012 Report Share Posted February 25, 2012 It looks like they are robbing you. 8% of 13K is indeed 1067, and here's the other part.....the garnishment period is six months, so the amount of interest for each six month period is about 533. Per annum is per year. I'd go see a consumer attorney about this. Link to comment Share on other sites More sharing options...

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