5. Understand how interest is calculated on your judgment

How do I collect the money I'm owed?
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5. Understand how interest is calculated on your judgment

If the debt isn't paid right away, you can get post-judgment interest. This interest increases until the debt is paid to you. It's automatically added to the amount you're owed.

The formula for post-judgment interest is:

(total judgment amount) x (post-judgment interest rate %) ÷ (365 days per year) x (number of days from date of judgment to date payment received) = post-judgment interest owing

For example, if you're owed $1,000, the post-judgment interest rate is 2%, and you're paid 100 days after judgment, this is how much interest would be owed:

1,000 x .02 ÷ 365 x 100 = $5.48 post-judgment interest owing

 

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Ontario Ministry of the Attorney General
Reviewed: February 23, 2017

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