We are not attorneys and we are not providing legal advice. We can complete your documents at your direction. We cannot calculate your interest, and neither will the court calculate your interest.

If you have an Oregon judgment, it is good for 10 years at 9% unless the court awarded you a different interest rate. Most judgments include the principle amount, court fees, service fees, and a prevailing party fee if one was awarded. You can add 9% annual interest to the judgment amount only. Make sure you have a signed copy of your judgment. All other costs can be listed on the writ of garnishment, but not all costs are subject to interest such as the fees paid to prepare and serve the garnishment. Only what is listed on the original judgement may accrue interest. Other fees will be added to the writ of garnishment.

**Begin with the amount owing. Multiply that figure by the interest rate and divide the result by 365 to get the interest per day. Take that number and multiply it by the number of days of interest to be calculated. The result would be the interest, and the remainder of the payment would be principal.**

** EXAMPLE: ** Assume that the principal balance is $6,000 and the interest rate is 9%. Also assume that it has been 40 days since a payment and assume that a payment of $240 has been received.

Here are the calculations:

- $6,000 X .09 = $540
- $540 divided by 365 = $1.48 interest per day
- 40 days X $1.48 = $59.20 interest
- $240 – $59.20 = $180.80 principal amount of payment
- $6,000 – $180.80 = $5,819.20 new principal balance

**Make an excel spreadsheet that looks like this (see PDF). PDF This will help you track your garnishment and all figures associated with each case.**

We do have some clients that do not want to figure out the interest, that is ok we can leave it out. But we can not do it for you. We can prepare documents at your direction.

If you need more assistance you may want to talk to an accountant or an attorney. We are not either.