
Quoting
Taxing Matters
On a judgement amount of $4,611.16, interest at 46.45%/year would work out to be $2,141.88/year, or $178.49/month. So yes, the interest is running up faster than $150/month you are presently paying. As for options, we know very little about the underlying debt, about the judgment, or your financial circumstances. Obviously, with an interest rate that high, if you can pay it off faster you’ll save a lot of money. If you can get a loan at a lot lower interest rate and pay off this judgment that would benefit you. Or perhaps sell some things that you no longer really need to come up with the money to pay it off (or at least pay it down a lot). Bankruptcy might also be an option for you.