You owe the plaintiff:
- the amount of the debt the judgment says you owe,
- court filing fees, and
- interest.
You don’t need to pay the full amount all at once. The court probably scheduled another day to talk about payment options. This is called a Payment Review hearing. You can create a payment plan based on your budget or explain why you can’t afford to pay. If there is no Payment Review hearing, you can contact the Plaintiff directly and ask to set up a payment plan.
In Massachusetts, debt collection judgments last for 20 years. This means if you lose, the creditor can attempt to collect payments from you for 20 years. If you are not collection-proof, the creditor may take your wages, assets, or money to pay the debt. This is also called “attachment” or “garnishment.”
Interest grows on the judgment amount. The interest rate for judgments is 12% per year. For example, if you owe $1,000 now, you will owe $1,120 next year. The amount of money you owe increases for 20 years until you pay it off.
Important:
When you go to court for your hearing, ask the clerk-magistrate and plaintiff to “waive” (cancel) interest on any judgment against you. If they agree, you will not have to pay interest.