Payment Plan Math in Florida
2 min read
Published July 14, 2026 • By DocketMath Team
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Quoted from the source law itself. Not legal advice; confirm how it applies to your matter.
Current verified answer
Florida payment-plan-math: interest rate is 18; interest rate basis is Fla. Stat. § 687.03 civil usury cap for loans ≤$500K. Default-rate-without-contract is variable per § 687.01 → § 55.03..
Run the planAuthority and key facts
- Interest Rate: 18
- Interest Rate Basis: Fla. Stat. § 687.03 civil usury cap for loans ≤$500K. Default-rate-without-contract is variable per § 687.01 → § 55.03.
- Max Contract Rate: 18
- Max Contract Rate Basis: Fla. Stat. § 687.03 (civil cap 18% for loans ≤$500K, deferring to § 687.071 for loans >$500K with 25% misdemeanor / 45% felony thresholds).
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.
Payment Plan Math in Florida
Florida law caps the interest rate on written payment plan agreements at 18% per year, as set by Fla. Stat. § 687.03. This statute governs the maximum lawful rate for any loan or forbearance of money, goods, or services when the parties have agreed in writing to a rate. The statute does not prescribe a specific formula for calculating payments; instead, the 18% figure represents the annual ceiling. The exact computation of principal, interest, and installment amounts depends on the terms of the individual agreement and the duration of the plan. The calculator below applies the statutory rate under the official source to estimate payments. For a precise estimate based on your own agreement terms, use the DocketMath calculator.
Governing authority
In Florida, the payment plan math rule is set by Fla. Stat. § 687.03. The verified packet cites Fla. Stat. § 687.03 (https://www.flsenate.gov/Laws/Statutes/2024/687.03).
Florida payment plan math: the verified value is 18% under Fla. Stat. § 687.03. The verified packet cites Fla. Stat. § 687.03 (https://www.flsenate.gov/Laws/Statutes/2024/687.03).
Estimate your own result: every situation has exceptions that can change the outcome. Use the payment plan math 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.