Post Judgment Interest Calculator BC: How It Works

This calculator works out post-judgment interest owed in British Columbia under the Court Order Interest Act. You enter the judgment amount, the interest rate (or use the default rate), the date judgment was granted, and the payment date; it returns the total interest accrued and the total amount owing. The result is based on simple interest, which is what the Act prescribes for post-judgment interest.

Formula

The formula for post-judgment interest in BC is simple interest:

Interest = Principal × (Annual Rate / 100) × (Days / 365)

• Principal – the judgment amount in dollars (the amount the court ordered the debtor to pay).
• Annual Rate – the interest rate per year, expressed as a percentage (e.g., 4.5 means 4.5%).
• Days – the number of days from the judgment date to the payment date. The Act counts the day after judgment is granted up to and including the day payment is made.
• 365 – a full year in days. BC uses a 365-day year for this calculation, regardless of leap years.

The result is the interest owed in dollars, and the total is principal plus interest. If the payment date is the same as the judgment date, the interest is zero.

Worked Example

Using the default values from the calculator:

• Judgment amount: $50,000
• Annual interest rate: 4.5%
• Judgment date: January 15, 2023
• Payment date: January 15, 2024

Days between the dates: 365 days (since 2023 is not a leap year).

Interest = 50,000 × (4.5 / 100) × (365 / 365) = 50,000 × 0.045 × 1 = 2,250

So the interest owed is $2,250.00, and the total owing is $52,250.00.

The calculator shows the same result because it uses the same formula.

Why the Rate Matters

The Court Order Interest Act sets the post-judgment interest rate, but it is not a fixed number. The rate changes periodically – it is tied to a published rate that the government updates. Often the rate is the same as the pre-judgment rate, but not always. You need to know the rate that applies to your judgment. The default of 4.5% in this calculator is just an example; you should replace it with the current rate from the BC government’s published table or the rate stated in your judgment order.

If the judgment order itself specifies a different rate (for example, a contractual rate), that rate overrides the statutory rate. Always check the order first.

How to Use the Calculator Correctly

To get an accurate number, you need three pieces of information:

• The exact judgment amount – this is the principal, not including costs or pre-judgment interest, unless the order says otherwise.
• The applicable annual rate – find the current rate from the BC government’s Court Order Interest Act rate table, or use the rate in your judgment.
• The dates – judgment date and the date you expect payment. The Act counts interest from the day after the judgment is pronounced to the day payment is received.

Enter the dates in YYYY-MM-DD format. The calculator computes the number of days between them and applies the formula. If the payment date is before the judgment date, the calculator will show “Cannot compute� because that situation does not make sense.

Common Mistakes and Misconceptions

One common mistake is using 360 days instead of 365. Some financial formulas use a 360-day year, but BC’s Act uses 365. Always use 365.

Another mistake is including the judgment date itself. The Act says interest runs from the day after the judgment is granted, so if judgment is on January 1 and payment on January 2, that is one day of interest, not two.

People also confuse pre-judgment and post-judgment interest. Pre-judgment interest covers the period before the judgment is granted; post-judgment interest starts after. This calculator only handles post-judgment interest. If you need pre-judgment interest, you must use a different calculation, often with a different rate.

Finally, the rate is not always the same for the entire period. If the statutory rate changes mid-way, you need to split the period into segments and calculate each separately. This calculator assumes a constant rate; for variable rates, do the calculation in parts.

Limits of This Calculator

This calculator gives a general estimate based on simple interest. It does not account for:

• Partial payments – if the debtor makes payments over time, the interest should be recalculated on the remaining balance.
• Rate changes – if the rate changes, the calculation becomes more complex.
• Court-ordered variations – some judgments have special terms.
• Costs and disbursements – these may also bear interest, but they are not included here.

For exact amounts in a real case, especially with partial payments or rate changes, consult a lawyer or use the official BC government calculator if one is available.

Frequently Asked Questions

What is the current post-judgment interest rate in BC?

The rate is set by the government and changes periodically. You can find the current rate on the BC government’s website under Court Order Interest Act rates. The rate is often around 4-5%, but it varies. Always check the official source.

Does post-judgment interest compound?

No. In BC, post-judgment interest is simple interest. It is calculated on the original judgment amount only, not on previously accrued interest. This is different from some other types of interest, like credit card interest, which compounds.

Can I use this calculator for pre-judgment interest?

No. Pre-judgment interest has different rules and often a different rate. The Court Order Interest Act sets pre-judgment interest at a rate that may be lower or higher than the post-judgment rate. Use a separate calculation for that period.

What if the payment is late – does the interest increase?

Interest continues to accrue daily until the judgment is paid in full. The longer the payment is delayed, the more interest accumulates. The rate itself does not increase, but the total interest grows because more days are counted.

Do I need to file anything to get post-judgment interest?

No, post-judgment interest is automatic. The judgment debtor owes it by law. However, to enforce payment, you may need to take further legal steps, such as garnishing wages or seizing assets. The interest is part of the total debt.

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in principal | Judgment amount | $ | 50000 | 0 | 10000000
in rate | Annual interest rate | % | 4.5 | 0 | 100
in start | Judgment date | - | 2023-01-15 | 2020-01-01 | 2030-12-31
in end | Payment date | - | 2024-01-15 | 2020-01-01 | 2030-12-31
out interest | Interest owed | $ | principal * rate/100 * (end - start) / 365 | 2
out total | Total owing | $ | principal + principal * rate/100 * (end - start) / 365 | 2