My question involves judgment recovery in the State of: California
I'm in the state of California. I've receintly won a small-claims case, and a judgment was entered in my favor. Now I'm at the stage of enforcing/collecting on the judgment, and after spending some money on enforcement and filing some MC-012's to get the costs added, I've finally gotten my first partial payment.
My question is:
When a partial payment is made on a judgment, how are the items 4 and 5 on the next MC-012 completed? In other words, do I wipe the interest amount out on the date of the partial payment and start accruing from zero, and specify only the credit after interest subtracted in the "acknowledgment of credit", or do I continue to accrue interest - now at a slower rate - and specify full payment amount in the "acknowledgment of credit"?
Original judgment amount = $1740.00
Collection costs posted to principal balance (with prior MC-012's) = $166.00
Collection costs not yet posted to principal balance = $175.00 (to appear on the next MC-012)
Interest accrued as of date of payment = $31.93
Partial payment amount = $600.00
So, on the next MC-012, provided no further payments are made/money collected, do I put $600 in Item 4 and ($31.93 + interest accrued after payment) in Item 5, or put $568.07 in Item 4 and only interest accrued after payment in Item 5?