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 Utah

In Utah, the maximum interest rate that may be charged on a payment plan or other consumer credit obligation is set by statute at 10% per annum. This rate is established under Utah Code Ann. § 15-1-1, which governs the legal rate of interest when no other rate is expressly agreed upon in writing. The rule applies to any deferred payment arrangement, meaning a creditor cannot exceed this ceiling unless a different rate is authorized by another specific provision of law. The statute also provides certain exceptions and factors that may adjust the calculation, all of which are detailed in the official source. The worked example below demonstrates how the 10% rate is applied to a payment plan balance. Use the DocketMath calculator to estimate your own payment plan interest under this rule.

Governing authority

In Utah, the payment plan math rule is set by Utah Code Ann. § 15-1-1. The verified packet cites Utah Code Ann. § 15-1-1 (https://le.utah.gov/xcode/Title15/Chapter1/15-1-S1.html).

Utah payment plan math: the verified value is 10% under Utah Code Ann. § 15-1-1. The verified packet cites Utah Code Ann. § 15-1-1 (https://le.utah.gov/xcode/Title15/Chapter1/15-1-S1.html).

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.