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.

Reverse Interest in Maine

Under Maine law, the reverse interest rate is set at 6% per year, as specified in 14 M.R.S. § 1602-C. This rate applies when a judgment creditor seeks to recover interest on a prior judgment that has been satisfied in part, effectively calculating interest on the unpaid balance from the date of the original judgment. The statute provides the formula for computing this reverse interest, which the court applies based on the specific payment history and judgment dates. The exact calculation method, including any applicable exceptions, is set out in the official source. The worked example below demonstrates how the 6% rate is applied in a typical scenario. Use the DocketMath calculator to estimate reverse interest on your own judgment.

Governing authority

In Maine, the reverse interest rule is set by 14 M.R.S. § 1602-B, § 1602-C; 9-A M.R.S. § 1-301. The verified packet cites 14 M.R.S. § 1602-B, § 1602-C; 9-A M.R.S. § 1-301 (https://legislature.maine.gov/statutes/14/title14sec1602-C.html).

Maine reverse interest: the verified value is 6% under 14 M.R.S. § 1602-B, § 1602-C; 9-A M.R.S. § 1-301. The verified packet cites 14 M.R.S. § 1602-B, § 1602-C; 9-A M.R.S. § 1-301 (https://legislature.maine.gov/statutes/14/title14sec1602-C.html).

Estimate your own result: every situation has exceptions that can change the outcome. Use the reverse interest 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.