Who is a co-applicant? A co-applicant refers to a person who applies along with the borrower for a loan. This is done so that the income of the co-applicant can be used to supplement the borrowerâs income and increase his/her eligibility.
Here are some states' approaches to the question of awarding post-judgment interest: 1  California provides for a fixed interest rate of 10% per annum for postjudgment interest. 2  North Carolina applies a statutory rate of 8%.
For example, let us say you have a judgment for $6,000 and after nearly 10 years the debtor has not paid you anything. The judgment accrues daily interest of $1.64 ($6,000 x 10% = $600; $600Ã· 365 days gives you the daily interest).