(1)\u2003On December 1, March 1, June 1, and September 1 of each year, the Chief Financial Officer shall set the rate of interest that shall be payable on judgments or decrees for the calendar quarter beginning January 1 and adjust the rate quarterly on April 1, July 1, and October 1 by averaging the discount rate of the Federal Reserve Bank of New York for the preceding 12 months, then adding 400 basis points to the averaged federal discount rate. The Chief Financial Officer shall inform the clerk of the courts and chief judge for each judicial circuit of the rate that has been established for the upcoming quarter. The interest rate established by the Chief Financial Officer shall take effect on the first day of each following calendar quarter. Judgments obtained on or after January 1, 1995, shall use the previous statutory rate for time periods before January 1, 1995, for which interest is due and shall apply the rate set by the Chief Financial Officer for time periods after January 1, 1995, for which interest is due. Nothing contained herein shall affect a rate of interest established by written contract or obligation.<\/em>
\n(2)\u2003Any judgment for money damages or order for a judicial sale and any process or writ directed to a sheriff for execution shall bear, on its face, the rate of interest that is payable on the judgment. The rate of interest stated in the judgment, as adjusted in subsection (3), accrues on the judgment until it is paid.<\/em>
\n(3)\u2003The interest rate is established at the time a judgment is obtained and such interest rate shall be adjusted annually on January 1 of each year in accordance with the interest rate in effect on that date as set by the Chief Financial Officer until the judgment is paid, except for judgments entered by the clerk of the court pursuant to ss. 55.141, 61.14, 938.29, and 938.30, which shall not be adjusted annually.<\/em>
\n(4)\u2003A sheriff shall not be required to docket and index or collect on any process, writ, judgment, or decree, described in subsection (2), and entered after the effective date of this act, unless such process, writ, judgment, or decree indicates the rate of interest. For purposes of this subsection, if the process, writ, judgment, or decree refers to the statutory rate of interest described in subsection (1), such reference shall be deemed to indicate the rate of interest.<\/em><\/p><\/blockquote>\n <\/p>\n","protected":false},"excerpt":{"rendered":"
Updated Interest Rates for Florida Judgments For the first time in quite \u00a0a while, we have seen movement in the interest rates that are charged on Florida Judgments.\u00a0 The interest rate for Florida Judgments WILL CHANGE to 4.78% for the quarter beginning April 1, 2016. This is the first time that interest has changed since […]<\/p>\n","protected":false},"author":1,"featured_media":5212,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"230","_seopress_titles_title":"Interest Rates for Florida Judgments","_seopress_titles_desc":"Updates to Interest Rates for Florida Judgments as of April 2016, by Marcadis Singer, PA, Florida Debt Collection Attorneys.","_seopress_robots_index":"","_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_mbp_gutenberg_autopost":false,"footnotes":""},"categories":[1,230],"tags":[264,265,198,215],"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","_links":{"self":[{"href":"https:\/\/marcadislaw.com\/wp-json\/wp\/v2\/posts\/5210"}],"collection":[{"href":"https:\/\/marcadislaw.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/marcadislaw.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/marcadislaw.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/marcadislaw.com\/wp-json\/wp\/v2\/comments?post=5210"}],"version-history":[{"count":0,"href":"https:\/\/marcadislaw.com\/wp-json\/wp\/v2\/posts\/5210\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/marcadislaw.com\/wp-json\/wp\/v2\/media\/5212"}],"wp:attachment":[{"href":"https:\/\/marcadislaw.com\/wp-json\/wp\/v2\/media?parent=5210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/marcadislaw.com\/wp-json\/wp\/v2\/categories?post=5210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/marcadislaw.com\/wp-json\/wp\/v2\/tags?post=5210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}