Tennessee law does not permit the recovery of prejudgment interest in personal injury or wrongful death lawsuits .
However, if you win a case and a judgment is entered by the court you are permitted to recover interest on the amount of the judgment. Under the law in effect before July 1, 2012, interest accrued at the rate of 10% per year on the amount of the judgment that is unpaid. Now, the interest rate varies from time to time; the interest rate on judgments as of December 3, 2012 is 5.25%.
The inability to collect interest on personal injury and wrongful death lawsuits (unless a judgment is entered) is yet another reason why you want to hire a lawyer who will work to finish your case promptly. To learn how we can help you with your case, call me at 866.812.8787 for a free consultation. You may also complete our Contact form and we will get in touch with you.
Check here for the current interest rate on judgments in Tennessee personal injury and wrongful death cases.