Home
Features
Screens
Purchase New
Purchase Update
Additional Licenses
Customer Support

 

Features of Legal Math

In use since 1989 throughout the USA*

Click to see a Sample Calculation generated by the program.

Click to see the Data Entry Screen.

For Windows XP, Vista, Windows 7 or 8

No other special system requirements.  Less than 2.5 MB size on disk, which is about the size of several medium size photos.  Memory use is minimal and never of concern.

 

In addition to being able to Calculate Interest on Past Due Child Support, Legal Math will also:
Calculate interest on any other flow of irregular payments or charges (garnishments, collections, promissory notes in default)
Calculate the Present Value of a Pension Plan or any other future money payment situation (Pension Plans, Right to future monthly payments, Right to a future lump sum)
Calculate loan payment amounts and prepare amortization schedules
Calculate the present value of any regular periodic flow of dollars (monthly, bi-monthly, weekly, quarterly, yearly)
Calculate the present value of any increasing regular periodic flow of dollars (monthly, bi-monthly, weekly, quarterly, yearly)
 

 

Calculate the present value of a lump sum to be received in the future 
Calculate the future value of any regular periodic investment (monthly, bi-monthly, weekly, quarterly, yearly, daily)
Calculate the future value of a lump sum invested over time.
Calculate the monthly payment available over time from a known lump sum
Easily do calendar math:  add or subtract days from a know date and calculate the number of days between dates.

Return to top ...

Who needs it?
This program is for anyone who ever sat down with a calculator, a calendar, a yellow pad, a cup of coffee and a bottle of aspirin in an attempt to calculate daily interest on any debt with frequently changing balances and payments.
Can be used by lawyers, accountants, lumber yards, vehicle dealers, private lenders, employer/employee loans .... the list is endless.  
See Details below.
Try using the other brand!
It's possible that the world's leading spread sheet program has the ability to calculate daily interest on changing balances with irregular payments and changing interest rates, but try doing it twice in a row with even slightly different facts.  And try figuring out how to do it even once without wasting days of your time when all you want is to get that "simple little calculation" over, done and out the door. 

Return to top ...

Return to top ...
Details for Interest Calculating feature
(Note: This interest calculating feature can easily be used for calculating interest on any series of irregular payment transactions, including calculating interest on past due child support.)
Specify Simple or Compound Interest (compound monthly or annually)
Apply payments (1) first to interest, then to past due and current principal; (2) first to current month obligation, then to interest, then to past due principal; or (3) first to current month and past due principal, then to interest (this is the new California Rule).
Apply a particular payment in some order different that the order in which the other payments are applied. (can be used for special treatment of child support "tax intercept" transactions or for any specially designated payment) 
Change the interest rate in mid-stream of a series of transactions.
Add a short text description to any or all transactions.
Use a 365 or 360 day year.

 

 
 
Easy data entry for monthly, twice per month, every other week, weekly, first and fifteenth transactions.  Single key repeats prior transaction and increments date by one month, two weeks, one week or twice per month.
Enter transactions in any order.  Program then sorts into dated order.
Optional "Grace Period" settings:
Delay calculating interest on payments received within 30 or 31 days of their due dates. (for child support interest calculations in Illinois and Texas and certain other states)
Calculate monthly rather than daily interest, with payment considered as timely if paid during the month it falls due.
 

* Legal Math Geographical distribution:

Legal Math has a significant presence among family law lawyers and collection lawyers in the following states:  (The program is primarily used in these states to calculate interest on past due child support and to calculate interest on other types of past due accounts involving judgments, garnishments and irregular charges and payments.)

Arizona  California  Colorado  Georgia  Illinois  Indiana  Iowa  Louisiana  Maine Missouri  Nebraska  New Jersey  New Mexico  Oklahoma  Oregon  Pennsylvania Texas  Washington  Wisconsin
 

Legal Math also has a modest presence among family law lawyers and collection lawyers in the following states:

Alabama  Alaska  Arkansas  Connecticut  Florida  Idaho  Kansas  Kentucky Louisiana  Michigan  Minnesota  Mississippi  Nevada  New York  Ohio  Tennessee  Utah  Virginia  Wyoming.
 

There are Legal Math users in most of the rest of the states, as well, but not enough for us to be bragging about them  -  yet.
 

 Legal Math is used by Governmental Child Support Enforcement Offices in California, Colorado, Nebraska, Oklahoma and Wisconsin.

November 30, 2011    

Copyright 2005, Custom Legal Software