Interest on recovered monies

Interest on recovered monies. (1) The department shall assess and collect interest on the unpaid balance of monies recovered by the department, when payments are made over time. (2) The interest rate shall be established at the time of the settlement, and may not be changed during the repayment period. The interest rate shall be based on the amount of the unpaid balance of the monies owed, at the rate specified in s. 71.82 (1) (a) , Stats., compounded monthly. (3) Interest is to be paid to the department on a monthly basis.