Independent Service Creates New Certification for Calculating Interest on Michigan and Federal Court Judgments
Themis Partners LLC provides independent Certification and comprehensive reports detailing interest accrual and principal balances for judgments rendered in Michigan and Federal Courts.
Detroit, MI (PRWEB) September 8, 2006 -- Themis Partners LLC, an independent certifying service, has created a Certification and comprehensive report detailing balances and accrued interest for civil judgments rendered in Michigan and Federal Courts.
Until the Themis Certification, these calculations were done manually or using other programs that were not specifically created to perform pursuant to the statute. Often times, mistakes were made and the error accentuated - - the built-in flaw is literally compounded year to year. Ellen Brisson, Managing Member, notes “that it is important to be error-free because interest on judgments can become a significant portion of the total amount owed”.
Debtors and the Courts have been frustrated with the lack of concrete proof that fees, payments and accrued interest are documented and applied accurately. Debtors may now benefit from having an independent resource to verify their collection balances, and be able to refute bad collection practices.
A survey of Detroit area law firms affirmed that the calculation process was often a laborious task, since both the Michigan and Federal statutes differ in significant ways, which may be both confusing and time consuming. One subsection alone of the Michigan statute has had over 40 bi-annual rate changes and the Federal interest rate changes weekly and has been based on two different United States Treasury instruments. The Themis Certification is also a valuable tool for pre-litigation negotiations and settlements and for the renewal of judgments prior to their expiration. Ms. Brisson went on to say “From a law firm’s perspective, it’s a time and resource saver and provides documented proof of the correct balance to all parties involved”.
Themis Partners LLC provides independent Certification and comprehensive reports detailing interest accrual and principal balances for civil judgments rendered in Michigan and Federal Courts.
For more information contact Ellen Brisson at 248-545-4646
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