ArrearsMaster – User Selected Interest Rate?

We recently received a call from a customer who wanted to know how to override the statutory rate applied on judgments (currently 4.75% as of 7/1/12) to apply a 10% per year rate.  The ArrearsMaster® program makes it simple to apply a user selected rate, but unfortunately it isn’t all that clear how to do it! – hence, this blog item!

The answer is found on the first screen of your ArrearsMaster®: Go to the State list, and scroll down the list to the bottom (or click in the list window and hit the “End” key), where you will find two special rates: “Zero” and “Fixed.”

If you select “Zero,” no interest will be applied and all payments will be applied to the principal amount of the debt.

If you select “Fixed,” ArrearsMaster® will open an input window where you can type in whatever annual fixed rate you want applied!

We hope this helps in your future calculations. Thank you for the opportunity to highlight features of our ArrearsMaster® program.

About Brad Short

CEO : Bradley Software; Of Counsel at Short, Borth & Thilges, Attorneys at Law, LLC, Overland Park, Kansas. Born Birmingham, Alabama, December 27, 1941; admitted to bar,1966, Kansas and U.S. District Court, District of Kansas; 1975, U.S. Court of Appeals, Tenth Circuit; 1976, U.S. Supreme Court. Education: University of Colorado (B.A., 1963; J.D., 1966). Contributing Author, Practitioner's Guide to Kansas Family Law, Kansas Bar Association, 1997. Listed in: The Best Lawyers in America, Family Law, every year from 1987 through 2013. Member, Technology Advisory Committee, Kansas Judicial Council, 1991-1998. Member: Bourbon County, 1966-1977 (President, 1970-1971), Johnson County (Member: Ethics and Grievance Committee, 1984-1998; Family Law Bench/Bar Committee, 1984-), Kansas and American (Vice-Chair, Solo Practitioners and Small Firms Committee, Economics of Law Practice Section, 1984-1985) Bar Associations; Kansas Trial Lawyers Association, 1974-1984 (State Treasurer, 1975-76; Member, Board of Governors, 1974-1984). Fellow, American Academy of Matrimonial Lawyers, 1994-2013 . Practice areas: Family Law.
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