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The Supreme Court of South Carolina RE: Interest Rate on Money Decrees and Judgments ___ ORDER ___ South Carolina Code Ann. 343120 (B) (2020) provides that the legal rate of interest on money decrees
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What is in re interest rate?
In re interest rate refers to the interest charged on a debt or obligation that arises from a legal proceeding or case, typically determined by the court.
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Individuals or entities that owe a legal obligation or are involved in a legal proceeding where in re interest is applicable are required to file.
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To fill out in re interest rate, one must complete the appropriate legal forms provided by the court, detailing the outstanding obligation and the calculated interest.
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The purpose of in re interest rate is to compensate the creditor for the time value of money and to ensure fair treatment for all parties involved in a legal dispute.
What information must be reported on in re interest rate?
Information that must be reported includes the principal amount, the rate of interest, the calculation period, and the total interest owed.
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