Judgment Interest Calculator - Illinois

Under 735 ILCS 5/2-1303(a), the default post-judgment rate in 2026 is nine percent (9%) per year simple interest. Consumer debt judgments with principal not exceeding twenty-five thousand dollars ($25,000) use five percent (5%) per year under subsection (b)(2). Judgments against local government bodies use six percent (6%) per year. Personal injury prejudgment interest at six percent from filing for up to five years is a separate prejudgment framework under the 2021 amendment. Confirm judgment category on the docket before quoting nine percent in a payoff letter. Document principal, rate category, payment chronology, and governing statute on every demand letter or payoff quote. Partial payments reduce the principal base prospectively under simple interest math. This calculator provides educational estimates only and does not replace advice from a licensed attorney familiar with your court, claim type, and docket. Verify official statute text and court rules before filing, settling, or enforcing.

Use simple interest: Interest equals principal times rate times years. Fifty thousand dollars at nine percent for two years equals nine thousand dollars. Twenty-five thousand dollars at five percent consumer rate for two years equals two thousand five hundred dollars. Partial periods may use daily accrual. TheLegalCalc multiplies your inputs. Partial payments reduce principal. Match the rate to consumer, government, or default category under 735 ILCS 5/2-1303 before enforcing. Document principal, rate category, payment chronology, and governing statute on every demand letter or payoff quote. Partial payments reduce the principal base prospectively under simple interest math. This calculator provides educational estimates only and does not replace advice from a licensed attorney familiar with your court, claim type, and docket. Verify official statute text and court rules before filing, settling, or enforcing.

Post-judgment interest generally begins on the date of the judgment on unpaid principal under Illinois practice tied to 735 ILCS 5/2-1303. Pre-judgment personal injury interest at six percent begins on the filing date for up to five years under the 2021 amendment—a different start date and cap. Build a chronology of filing, judgment, partial payments, and any citation renewal. Do not apply the five-year prejudgment PI cap to post-judgment accrual without statutory authority. Document principal, rate category, payment chronology, and governing statute on every demand letter or payoff quote. Partial payments reduce the principal base prospectively under simple interest math. This calculator provides educational estimates only and does not replace advice from a licensed attorney familiar with your court, claim type, and docket. Verify official statute text and court rules before filing, settling, or enforcing.

735 ILCS 5/2-1303 describes annual rates applied to principal in routine planning without mandating compounding. Contracts or orders could provide otherwise. This calculator uses simple interest only. The five percent consumer, six percent government, and nine percent default rates all run on unpaid principal after partial payment credits. Document principal, rate category, payment chronology, and governing statute on every demand letter or payoff quote. Partial payments reduce the principal base prospectively under simple interest math. This calculator provides educational estimates only and does not replace advice from a licensed attorney familiar with your court, claim type, and docket. Verify official statute text and court rules before filing, settling, or enforcing.

Illinois does not impose an automatic expiration of judgments comparable to Pennsylvania's five-year execution limit under 42 Pa. C.S. § 5526. Interest may accrue while principal remains unpaid, but enforceability depends on citation renewal and collection procedure. Coordinate 735 ILCS 5/2-1303 math with revival strategy and Illinois counsel. Long delays require tracking partial payments separately from rate category. Document principal, rate category, payment chronology, and governing statute on every demand letter or payoff quote. Partial payments reduce the principal base prospectively under simple interest math. This calculator provides educational estimates only and does not replace advice from a licensed attorney familiar with your court, claim type, and docket. Verify official statute text and court rules before filing, settling, or enforcing.

Parties may settle and waive post-judgment interest subject to authority and bankruptcy rules. Settlements should specify whether 735 ILCS 5/2-1303 accrual stops on payment and which rate category applied. Creditors quoting nine percent must confirm the judgment is not in the five percent consumer bucket for principal under twenty-five thousand dollars. Consult Illinois counsel before satisfaction or partial credit. Document principal, rate category, payment chronology, and governing statute on every demand letter or payoff quote. Partial payments reduce the principal base prospectively under simple interest math. This calculator provides educational estimates only and does not replace advice from a licensed attorney familiar with your court, claim type, and docket. Verify official statute text and court rules before filing, settling, or enforcing.