The lawsuit was filed on March 25, 2007 on behalf of Robert L. Tate. The lawsuit alleged that Ms. Atckison failed to repay Mr. Tate for a short term loan of pay. Ms. Tate made partial payment, but a substantial balance remained due on the promissory note.
Rather than face a trial, Ms. Tate stipulated to entry of a judgment of $36,340.14, which included the balance owed plus interest, legal fees and court costs.
Civil judgments in California collect interest at the rate of 10% per year. In this case, interest will accrue at the rate of $3,634.01 per year or $9.96 per day until paid. Efforts to collect the judgment will begin immediately.
About the Author: Carl H. Starrett II has been a licensed attorney since 1993 and is a member in good standing with the California State Bar and the San Diego County Bar Association. Mr. Starrett practices in the areas of bankruptcy, business litigation, construction, corporate planning and debt collection.