New York Lowers its Interest Rate on Money Judgments for Consumer Debt Collection Cases

Submitted by Anonymous (not verified) on Fri, 06/24/2022 - 20:32
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For the first time in over 40 years, New York has amended CPLR § 5004 and lowered its interest rate on money judgments founded upon consumer debt, which is generally defined as debts incurred “primarily for personal, family or household purposes”. Effective April 30, 2022, the Fair Consumer Judgment Interest Act (”FCJIA”) reduces from 9% Read More