Many people have asked me this question so I thought that I would post it here so that they can get the answer here. The question is:
“Can I get prejudgment interest on my collection case?”
The answer is yes and no. A creditor who prevails on a common count but not a contract cause of action may not recover prejudgment interest at the contract rate. So if you have a contractual agreement with the debtor, you can sue for a breach of contract and seek prejudgment interest.
If there is no contract and you are just suing for services rendered or for merchandise sold and delivered than you can’t get prejudgment interest.
