The Courts Act 1981 (Interest on Judgment Debts) Order 2016 (SI No 624 of 2016) came into operation on 1 January 2017. The effect of the Order is to reduce the rate of interest payable on judgment debts from 8% to 2%. The 8% rate had applied since January 1989.
In many cases the rate of interest on judgments was academic, as many debtors were only able to pay a fraction of the actual judgment in any event. However, for some debtors it will be very welcome news.
I have no doubt that some...
The rate of interest on judgements has now been reduced from 8% to just 2%
In many cases the rate of interest on judgments was academic, as many debtors were only able to pay a fraction of the actual judgment in any event. However, for some debtors it will be very welcome news.
I have no doubt that some...
The rate of interest on judgements has now been reduced from 8% to just 2%