Failure to make payment
§ 5044. Failure to make payment. If at any time following entry of judgment, a judgment debtor fails for any reason to make a payment in a timely fashion according to the terms of this article, the judgment creditor may petition the court which rendered the original judgment for an order requiring payment by the judgment debtor of the outstanding payments in a lump sum. In calculating the amount of the lump sum judgment, the court shall total the remaining periodic payments due and owing to the judgment creditor, as calculated pursuant to subdivision (e) of section five thousand forty-one of this article, and shall not convert these amounts to their present value. The court may also require the payment of interest on the outstanding judgment.
If a judgment debtor fails to make a timely payment for any reason, the creditor may petition the original court for an order requiring the outstanding payments in a lump sum. The court totals the remaining periodic payments (per § 5041(e)) and — importantly — does NOT reduce them to present value. ★ The court may also add interest. (Default is expensive: you pay the full undiscounted remainder.)
Marked in the text: penalties, time limits, sums of money. Editorial emphasis added by this edition; it does not appear in the statute as enacted.
This provision appears in Volume 2 — The JG-22 CPLR and in Volume 1 — The JG-22 in Plain English.