Under Missouri law, pre-judgment interest may be recovered by a Missouri personal injury attorney for his client in certain circumstances. In all Missouri cases filed after August 28, 2005, Missouri law permits the recovery of pre-judgment interest where the Missouri personal injury attorney does the following:
The issue of securing prejudgment interest for a victim in a Missouri motor vehicle accident can be highly technical and usually requires to assistance of a skilled Missouri personal injury lawyer. The statute must be followed exactly otherwise you may forfeit your right to pre-judgment interest. If you or a loved one is the victim of any type of Missouri motor vehicle accident you should seek the assistance of competent counsel to evaluate and assist in handling of your claim or claims.
Our St. Louis personal injury lawyers usually prepare pre-judgment interest demands pursuant to Missouri statute. However, there are instances where presentation of a pre-judgment interest demand is not in the best interest of the client.
In addition to pre-judgment interest, Missouri law provides for post-judgment interest after the judgment becomes final. Under RSMo 408.040(2), on tort claims, interest is affixed at the rate of 5% plus the prevailing federal funds rate. This way, if the defendant or his insurance company refuses to timely pay a judgment, interest accrues on top of the original amount due to you.
For more information about how you can obtain interest on your claim, contact us.