Anybody have helpful info on Court ordered Judgment?

[Breezy]

As you all know we had major issues with our builder. We sued and I went down in June and won the case. Well we never thought we would see the money BUT low and behold we got a phone call yesterday from the title company and the butthead wants to close on a house on friday but can't because of the lien with us
Well I have no clue how the interest is calculated. Is it a daily thing, monthly etc?? And for court costs total is that just what we paid to to file the suit or any expiences incurred because of the court case? Like travel, courhouse fees etc...

Sorry for all of the questions, but they just overnighted it to me this morning and they want it back tomorrow. Not really sure that can happen as TX doesn't want to accept my POA for dh and he is in school

So any suggestions or links to info that will help.
TIA

[Breezy]

OK I found out it is daily.
Would you sit and figure out daily for the past 4 months or would you just pop out a figure that is less than the full amount and settle for that?
I ask cause I am on day 6 and it is already over $1000 more and there are 129 days as of today.
I need insight lol. DH is at work and every bit of this has been my call. Personally I want to take him for every dime we are owed but I doubt we will get the full amount seeing as high as it will be.
So any suggestions if it were you?

[klynam]

Don't take a chance on screwing this up trying to do it yourself. Get an attorney. It's worth the $75-$150 consultation fee to be sure everything is done right...

[klynam]

If you're asking for legal advice, no one here should (even attempt to) provide it.

If you're asking for opinions on the financial calculations...Calculate the maximum interest possible - don't worry about what's "realistic". Include every possible expense you've incurred (and can support) relating to this life issue. In short ask for everything you possibly can. Then be prepared to work back from there to an acceptable settlement. If you start with what you think is "reasonable" you will never get that amount.

[Breezy]

Thanks Kevin.
We are headed to Legal later today as we have to have it all notorized any way. I will definately have them work on the #s too.
According to the court I can count the judgment amount plus court costs and then interest but no travel fees. But if we even get half it will cover the travel fees.
And yeah I was just asking for "opinions" :D Just wondering what others would do.
Thanks again for your insite :D

[CaptainTom]

If they are anxious to close on the house, and in the current economic climate, I'd run the figures up as much as I could possibly figure out.
They tried to screw you when you left, and they will pay whatever they have to in order to close the house.
It's obvious they haven't yet paid you the judgement or you wouldn't be figuring out the interest owed. The interest is high because the court knows that is the only punishment they can impose if the loser doesn't pay.
They made their bed, now they have to pay up. NO negotiations. They had their chances.

[Breezy]

Thanks Tom
Apparently noone knows if it is a daily compounded average or what. So now I am on hold with the court to see exactly how the #s are supposed to be ran. And if it isn't compounded then I will hold out for every last dime that is for sure.

[L Stegall]

Actually, there are several websites that will calculate post judgment interest. Check out http://www.nationaljudgment.net/intcalc.php - it does a pretty good job of calculating the interest at the correct amount for your state from the date of your judgment.

The Court costs should be listed in the court file - they would include things like your filing fee, any transcripts you paid for (depositions or trial transcript), service of process fees, mediation costs. You may also be entitled to prejudgment interest from the date either (1) you filed the suit or (2) you made a demand on the defendant. Did you file a DTPA claim or a breach of contract claim? Hope that is helpful.

I'd have to look to see where the statute specifying the interest amount, etc. is - it's either in the Texas Civil Practice & Remedies Code of the Texas Property Code. I forget which one.

[mccls1030]

Best advice I saw here is to see an attorney. I can share that I went a similar route too and won a considerable amount on default judgment. Unfortunately, the jerk(!!) hid his assets well and I never waw able to collect on anything. It's neat to want - and be able to - take the jerk for as much as possible, but be willing to take a reasonable amount, too.

Good luck! It's great that you're actually able to get this far with it.

[L Stegall]

Yes, I agree that the best advice is to see an attorney and get specific advice on your situation. By your original post, I assume you didn't have one originally? However, as a 20+ year practicing attorney, I've used the website I referenced to calculate interest more than once.

[Breezy]

Thanks Lisa,
No we have always used Base Legal.
I will see if we can't get in to Legal today.

[Breezy]

Oh and I will definately check out the link.
It was filed as a breech of Contract.

[L Stegall]

I don't remember if you get pre-judgment interest from the date of a demand for a breach of contract claim or not. You may, however, be entitled to pre-judgment interest from the date you filed your suit up until the date of judgment (which is when post judgment interest kicks in). Does your judgment address pre judgment interest? You'll want to check on that as well.

[Breezy]

How the heck can that link be right? It is coming back with 7.25 and is way off from everything else

[L Stegall]

Really? What do you mean it is way off from everything else? What is the date of your judgment and the amount of your judgment? I thought TX was currently at 8.25% for post judgment interest.