How does the court calculate interest. Since my ex and I haven’t settled our affairs in years her lawyer is asking for substantial amount of interest attached to the settlement.
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Lawyer can ask for anything they want. Doesn’t mean they will get it. If the delay is your fault or you refused to follow the law or agreement then there might be an argument for applying it (and it would push a party to settle to avoid it) but if the delay on paying it is because of the court process I have a hard time seeing a judge order interest because of the courts fault.
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The delay is because she’s keeps on asking more. In 2016 we had agreed in front of a mediator, then she takes it to her lawyer and changed it all. I have yet to receive those changes. Only reason I know of them my daughter sent me a copy. Somehow she managed to get a copy. The brief says she’s hasn’t been able to purse it because she doesn’t have the funds to pay her lawyer.
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Judges can assign prejudgement or post-judgement interest (or both). My understanding is that there is a specified rate, or the judge can of course assign a rate.
How many years has this remained unsettled? I find it hard to believe that prejudgement interest could exceed the settlement unless you have been stalling for decades.
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I hate to say it - it’s almost been 15 years. I have attempted many times to settle but she keeps on stalling. I thought I had settled in 2016 when we went to a mediator. She was supposed to have her lawyer draw up a separation agreement and then submitted to me. That never happened. Recently I seen a form 17a she drew up about 1.5 years ago. She basically doubled what we had agreed on.
Her reason for not pursuing is she has no money to pay her legal fees At least that’s what that brief says. She has no idea I seen the brief.
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In the mediation report that she agreed on but never went through with she asked for 200 a month SS for one year. I’ve given her more that that I’m extra support. Now apparently she wants 400 a year for 3 years which I have no issues with. It’s the large sum she wants. In the 300 +Last edited by OB1; 07-09-2019, 02:33 PM.
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Originally posted by OB1 View PostEqualization and interest
Assuming that her lawyer is just going by inflation (the lowest possible interest calculation, does not account for the fact that most people can earn more than inflation with the money), then an equalization of $230,000 15 years ago would be expected to cost $300,000 today, since the inflation rate over the last 15 years has been about 30%.
Is that ballpark to what is going on with your situation?
230k equalization
70k interest
If so.. that's kinda fair.
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I don't want to give figures but let say if it was 50 dollars now their asking 100 including interest. My argument will be that I've tried to settle for years now but my ex kept on delaying. She never wanted to take, or work with any of the offers I submitted. Then everything went stagnant due to her not having any funds to pay her lawyers.
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