Wisconsin Judgments May Garner Less Interest
As reported by the Wisconsin State Bar’s Joe Forward, both houses of the Wisconsin Legislature have passed a bill lowering the interest rate on civil money judgments. Currently at 12% annual interest, the legislation would drop the rate to 1% over the prime rate in effect on January 1 and June 30 of each year. As if figuring out the interest due on judgments wasn’t complicated enough for lawyers, many of whom got into this profession to avoid math altogether. The bill is headed to Governor Scott Walker for his consideration.
The bill was a Republican measure, and passed along party lines. Read Forward’s article for more information on the opposing points of view.
