It is well worth your time to get a judgment for principle and costs. After the 30 days, you as the judgment creditor will receive judgment interest at 10%. So if this goes like 5 years and this person tries to acquire property, you will be contacted by the title co who will request a demand, at this time, you can request the judgment amount, a demand fee (some collection agencies charge an outrageous amount), administrative costs, and the interest. Let me give you an example:
John has a judgment issued against him in 1996. The principle is $750. Judgment interest= (if the judgment happened on 1/2/1996 is $709.93, court costs($35) +Process service $200, Administrative fee (aggravation fee) $150. So the total possible collected amount can equal
$1844.93. Remember in the judgment, the judge or pro tem can grant you principle plus costs. |
