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Situation - Default Judgment |
  
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Situation - Default Judgment |
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Calculates interest using applicable pre-judgment interest rates, then the scale costs applicable for an application for Summary Judgment in the Magistrates, District or Supreme Court of Queensland.
Sample Report follows.
(Qld) Default Judgment
MAGISTRATES COURT (SCALE F)
| • | Calculated interest on thirteen thousand five hundred and sixty-seven dollars and ninety cents ($13,567.90) for the period 19/11/2006 to 27/02/2007 inclusive, a period of 101 days. |
| • | Total interest is three hundred and thirty-seven dollars and ninety cents ($337.90). |
| • | As at 27/02/2007 the total amount owing is thirteen thousand nine hundred and five dollars and eighty cents ($13,905.80) comprised of principal of thirteen thousand five hundred and sixty-seven dollars and ninety cents ($13,567.90) and accumulated interest of three hundred and thirty-seven dollars and ninety cents ($337.90). |
| • | Interest on $13,567.90 continues to accumulate at three dollars and thirty-four cents ($3.35) per day on and from 28/02/2007. |
| • | Costs of one hundred and fifty-five dollars and zero cents ($155.00) apply for the MAGISTRATES COURT (SCALE F). |
NOTICE UNDER RULE 150(3)
The plaintiff claims:
$13,567.90;
$337.90 for interest; and
$155.00 for costs of issuing the claim and this statement of claim.
The proceeding ends if you pay those amounts before the time for filing your notice of intention to defend ends. If you are in default by not filing a notice of intention to defend within the time allowed, the plaintiff is entitled to claim additional costs of $155.00, costs of entering judgment in default.
PARTICULARS OF INTEREST
(a) On 19/11/2006 the principal was $13,567.90, the interest rate was 9% per annum, and the days per year base used to convert the annual interest rate into the daily interest rate was 365.
(b) Calculated interest on 27/02/2007. Interest on $13,567.90 (principal) at 9% per annum (M.C.P.D. 2/2002) × 101 days (19/11/2006 to 27/02/2007 inclusive) ÷ 365 (days per year) is $337.90, resulting in a new unpaid interest balance of $337.90 ($0.00 plus $337.90).
(c) As at 27/02/2007 the total amount owing is thirteen thousand nine hundred and five dollars and eighty cents ($13,905.80) comprised of principal of thirteen thousand five hundred and sixty-seven dollars and ninety cents ($13,567.90) and accumulated interest of three hundred and thirty-seven dollars and ninety cents ($337.90).
(d) Total interest for the period 19/11/2006 to 27/02/2007 (101 days) was three hundred and thirty-seven dollars and ninety cents ($337.90).
(e) Interest on $13,567.90 continues to accumulate at three dollars and thirty-four cents ($3.35) per day on and from 28/02/2007.
PARTICULARS OF COSTS
MAGISTRATES COURT (SCALE F)
Item No. Description Amount
4 Obtaining judgment by default $155.00
Total $155.00
Costs calculated using: Uniform Civil Procedure (Fees) Regulation 1999 incorporating amendments as at 27/11/2006. Appeal Costs Fund Regulation 1999 Reprint 2B incorporating amendments as at 27/11/2006. Uniform Civil Procedure Rules 1999 Reprint 4F as at 13/11/2006.