This page provides general legal information and calculation tools, not legal advice. DocketMath is not a law firm and does not provide legal representation, and using this site does not create an attorney-client relationship. Laws change and exceptions apply, so deadlines and amounts specific to your situation should be confirmed with a licensed attorney in your jurisdiction.

Cost Of Delay in Michigan

Michigan’s judgment interest rate is set by statute at 6% per year under MCL 600.6013. This rate applies to money judgments entered in Michigan courts, covering the period from the date the complaint was filed or a specific demand was made, as the statute defines. The law provides a formula for calculating how interest accrues on the unpaid judgment amount over time. The official source listed below contains the complete rule, including any applicable factors or exceptions. The worked example following this text demonstrates the calculation using the verified rate. To determine interest on a specific judgment, use the calculator to generate an estimate based on the particular dates and amount involved.

Governing authority

In Michigan, the cost of delay rule is set by MCL 600.6013. The verified packet cites MCL 600.6013 (https://www.legislature.mi.gov/documents/mcl/pdf/mcl-600-6013.pdf).

Michigan cost of delay: the verified value is 6% under MCL 600.6013. The verified packet cites MCL 600.6013 (https://www.legislature.mi.gov/documents/mcl/pdf/mcl-600-6013.pdf).

Estimate your own result: every situation has exceptions that can change the outcome. Use the cost of delay calculator to estimate your specific figure.

This page provides general legal information and calculation tools, not legal advice. DocketMath is not a law firm and does not provide legal representation, and using this site does not create an attorney-client relationship. Laws change and exceptions apply, so deadlines and amounts specific to your situation should be confirmed with a licensed attorney in your jurisdiction.