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 Virginia

In Virginia, the legal rate of interest on a money judgment is 6% per year under Va. Code Ann. § 6.2-302(A). This rate applies automatically from the date the judgment is entered until it is paid in full. The same 6% figure is the general legal rate of interest under Va. Code Ann. § 6.2-301(A) for obligations that do not specify a different rate in writing. The statute does not compound interest; it accrues as simple interest on the principal amount. The worked example below shows how the 6% rate is applied over time. For an estimate of the total interest on a specific judgment, use the calculator linked on this page.

Governing authority

In Virginia, the cost of delay rule is set by Va. Code Ann. § 6.2-302(A) (judgment); § 6.2-301(A) (legal). The verified packet cites Va. Code Ann. § 6.2-302(A) (judgment); § 6.2-301(A) (legal) (https://law.lis.virginia.gov/vacode/title6.2/chapter3/section6.2-302/).

Virginia cost of delay: the verified value is 6% under Va. Code Ann. § 6.2-302(A) (judgment); § 6.2-301(A) (legal). The verified packet cites Va. Code Ann. § 6.2-302(A) (judgment); § 6.2-301(A) (legal) (https://law.lis.virginia.gov/vacode/title6.2/chapter3/section6.2-302/).

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.