Payment Plan Math in Michigan
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
Michigan payment-plan-math: interest rate is 5; max interest rate is 10.
Run the planAuthority and key facts
- Interest Rate: 5
- Max Interest Rate: 10
- Max Interest Rate: 36
- Interest: The cost of borrowing money, usually expressed as a percentage of the total amount borrowed.
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 Michigan
In Michigan, the statute governing payment plan interest on civil judgments sets the rate at 5% per year. Mich. Comp. Laws § 600.6013 establishes this fixed annual interest rate, which applies to the unpaid balance of a money judgment. The law calculates interest from the date the complaint was filed, and it continues to accrue until the judgment is fully satisfied. The statute also provides for how interest is computed on periodic payments made under a structured payment plan. For the precise formula and any statutory exceptions, readers should consult the official text of § 600.6013 directly. The worked example below demonstrates how the 5% rate is applied over time, and the DocketMath calculator can estimate interest accrual for your specific judgment.
Governing authority
In Michigan, the payment plan math rule is set by Mich. Comp. Laws § 600.6013. The verified packet cites Mich. Comp. Laws § 600.6013 (https://legislature.mi.gov/doc.aspx?mcl-600-6013).
Michigan payment plan math: the verified value is 5% under Mich. Comp. Laws § 600.6013. The verified packet cites Mich. Comp. Laws § 600.6013 (https://legislature.mi.gov/doc.aspx?mcl-600-6013).
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.