When using SoloSettle, we calculate a projected total cost for your lawsuit.
This is the amount you would likely end up paying if you were to lose your lawsuit and don't settle. It factors in lawsuit costs, post-judgment interest, and garnishment.
If you haven't been sued for your debt, this considers the likely hypothetical where you are sued for the debt.
Here are the formulas we use to calculate this estimate.
Total projected cost of the lawsuit = Monthly Garnishment * Number of garnishment months
Number of garnishment months = (ln(Monthly garnishment) – ln(Monthly Garnishment – ((Lawsuit Amount + Court Costs)) * Monthly post judgment interest) / ln(1 + Monthly post judgment interest)
ln is natural log.