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STATE
COLLECTION LAWS
--Statutes
--Judgments
--Garnishments
--Interest Rates
--Bad Check Laws
--Collection Agency Requirements by State
In
researching your debts, statute's and credit rating it is
often necessary to know the "collection laws" of
a particular state. Because state laws vary, knowing the right
collection law for your state or your creditors state is essential.
Here, you can find bad check laws, state collection requirements,
statutes of limitations for both debts and judgments,
garnishments plus
license and bonding information for collection agents. Totally
invaluable! This information is provided at commercialbar.com
and can be used in conjunction with our information on defending
the statute of limitation.
† -Denotes community property state |
INTEREST RATE
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 3
- Written Contract:
6
- Domestic Judgment:
20
- Foreign Judgment:
20
BAD CHECK LAWS (CIVIL
PENALTY)
Greater of $10 or Actual Bank Charges
GENERAL GARNISHMENT
EXEMPTIONS
75% of wages are exempt from garnishment
COLLECTION AGENCY
BOND & LICENSE
- Bond: No
- License: Yes
- Fee:
- $25 - Population
under 20,000
- $100 - Population
over 20,000
- Exemption for
out-of-state collectors: Business License not required for out-of-state
agency.
[TOP]
INTEREST RATE
- Legal: 10.5%
- Judgment: 10.5%
or contractual
STATUTE OF LIMITATIONS
(IN YEARS)
- Sale of Goods:
4
- Written Contract:
6
- Domestic Judgment:
10
- Foreign Judgment:
10
BAD CHECK LAWS (CIVIL
PENALTY)
Damages in amount equal to $100 or triple the amount of the check
whichever is greater. But no more than $1000 over the amount of
the check.
GENERAL GARNISHMENT
EXEMPTIONS
75% of employee's weekly net income or $402.50 whichever is more.
COLLECTION AGENCY
BOND & LICENSE
- Bond: $5000 License:
Yes
- Fee:
- $100 - Application
- $200 - Agency
Biennially
[TOP]
INTEREST RATE
- Legal: 10%
- Judgment: 10%
or contractual
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 3
- Written Contract:
6 in AZ. - 4 outside AZ.
- Domestic Judgment:
5-additional 5 upon request (indefinitely)
- Foreign Judgment:
4
BAD CHECK LAWS (CIVIL
PENALTY)
Twice the amount of check, costs of suit, reasonable attorney fees.
GENERAL GARNISHMENT
EXEMPTIONS
See federal law.
COLLECTION AGENCY
BOND & LICENSE
- Bond: $10,000
minimum (based on gross income)
- License: Yes
- Fee:
- $1500 Application
Fee
- $600 Annual
Fee
- $23 per Officers/Managers
[TOP]
INTEREST RATE
- Legal: 6% or 5
points above the Fed. discount rate
- Judgment: Contract
rate or 10% per annum whichever is greater
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 3
- Written Contract:
5 (partial payment stops the statute from running)
- Sale of Goods:
(UCC-2) - 4
- Domestic Judgment:
10 - Renewable
- Foreign Judgment:
10
BAD CHECK LAWS (CIVIL
PENALTY)
Twice amount of check - prior to double charge - can start out with
$15 charge per NSF check after 30 days.
GENERAL GARNISHMENT
EXEMPTIONS
$500 head of family; $200 single. Includes personal property except
clothing.
COLLECTION AGENCY
BOND & LICENSE
- Bond: $5000 to
$25000
- License: Yes
- Fee: $125 - $5
each employee
[TOP]
INTEREST RATE
- Legal: 10%
- Judgment: 10%
(Unless otherwise contracted)
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: Reduced
to writing-4
- Open Acct.: No
writing-2
- Written Contract:
4
- Domestic Judgment:
10 (renewable at 10)
- Foreign Judgment:
10 (commencing with judgment debtor's commencement of CA. residence.)
BAD CHECK LAWS (CIVIL
PENALTY)
Amount due, treble damages - minimum $100 maximum $1500 per check.
GENERAL GARNISHMENT
EXEMPTIONS
See federal law. Exemptions for necessaties of life.
COLLECTION AGENCY
BOND & LICENSE
No license or bond required.
[TOP]
INTEREST RATE
- Legal: 8%
- Judgment: 8% (or
higher if specified in contract or note)
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 3
- Written Contract:
6 (signed promissory note)
- Written Contract
Goods Services: 3
- Domestic Judgment
- District Court-20
(renewable every 20)
- County Court-6
(renewable every 6)
- Foreign Judgment:
6 in CO.
BAD CHECK LAWS (CIVIL
PENALTY)
Treble Damages & Reasonable Fees
GENERAL GARNISHMENT
EXEMPTIONS
See federal law.
COLLECTION AGENCY
BOND & LICENSE
- Bond: $12,000
- 20,000
- License: Yes
- Fee: Determined
by collection agency board
- Exemption for
out-of-state collectors: Out of state collectors are exempt if
[1] collecting only by interstate means (phone, fax, mail); [2]
have no Colorado client; and [3] are regulated and licensed in
the state in which they reside.
[TOP]
INTEREST RATE
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 6
- Written Contract:
6
- Oral Contract:
3
- Domestic Judgment:
20/25
- Small Claims Judgment:
10/15
- Foreign Judgment:
20
BAD CHECK LAWS (CIVIL
PENALTY)
Personal liability of signatory on corporate claims unless signed
in corporate capacity.
GENERAL GARNISHMENT
EXEMPTIONS
25% you may garnish disposable earnings each week, or 40 x fed.
min. hourly wage, which ever is less.
COLLECTION AGENCY
BOND & LICENSE
- Bond:$5000
- License: Yes
- Fee:
- $200 Yearly
- $50 Investigation
[TOP]
INTEREST RATE
- Legal + Judgment
-
- Federal Reserve
Discount Rate Plus 5% Points
STATUTE OF LIMITATIONS
(IN YEARS)
- Sale of Goods:
4
- Open Acct.: 4
- Written Contract:
3
- Domestic Judgment:
No provision
- Foreign Judgment:
No provision
BAD CHECK LAWS (CIVIL
PENALTY)
Amount due, cost of suit, protest fees
GENERAL GARNISHMENT
EXEMPTIONS
85% of disposable earnings or disposable earnings minus $150 weekly
according to schedule.
COLLECTION AGENCY
BOND & LICENSE
- Bond: No
- License: Merc.
License
- Fee: $50 Yearly
[TOP]
INTEREST RATE
- Legal: 6%
- Judgment: 70%
of interest rate on taxes to IRS
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 3
- Written Contract:
3
- Domestic Judgment:
20
- Foreign Judgment:
Foreign Statute
BAD CHECK LAWS (CIVIL
PENALTY)
Amount Due - Protest Fees
GENERAL GARNISHMENT
EXEMPTIONS
See federal law. D.C. Government employees are not attachable.
COLLECTION AGENCY
BOND & LICENSE
- Bond: No
- License: No
- Fee: No
[TOP]
INTEREST RATE
- Legal: 10%
- Judgment: 10%
or up to 18% if contractual
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 4
- Written Contract:
5
- Domestic Judgment:
7 Renewable
- Foreign Judgment:
5 if not recorded instate
BAD CHECK LAWS (CIVIL
PENALTY)
After 30 day demand-treble amount in addition to amount owed, bank
& court costs & reasonable attorney fees.
GENERAL GARNISHMENT
EXEMPTIONS
- See federal law
except 100% head of household.
- Liberal Homestead
Exemption - 1st $1,000 of automobile
COLLECTION AGENCY
BOND & LICENSE
- Bond: Yes - $50,000
(Commercial)
- License: Yes
- Fee: Yes
- $200 - Registration
- $50 - Investigation
- $200 - Renewal
- Exemption for
out-of-state collectors: Registration is required for out-of-state
collectors if [1] soliciting accounts; [2] if client (creditor,
its affiliate or subsidiary) has an office in Florida.
[TOP]
INTEREST RATE
- Legal: 7%
- Judgment: 12%
- Commercial Accounts:
18%
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 4
- Written Contract:
6
- Domestic Judgment:
7
- Foreign Judgment:
5
BAD CHECK LAWS (CIVIL
PENALTY)
After 10 day written demand double damages up to $500 and service
charge of $20 or 5%, whichever is greater,
GENERAL GARNISHMENT
EXEMPTIONS
See federal law. City, County & State employees may be garnished.
COLLECTION AGENCY
BOND & LICENSE
- Bond: No
- License: No
- Fee: No
[TOP]
INTEREST RATE
- Legal: 10% (no
written contract)
- Judgment: 10%
(no written contract)
STATUTE OF LIMITATIONS
(IN YEARS)
- Sale of Goods:
6
- Open Acct.: 6
- Written Contract:
6
- Domestic Judgment:
10
- Foreign Judgment:
6 for regis./10 after Regis.
BAD CHECK LAWS (CIVIL
PENALTY)
Damages equal to $100 or triple amount of check, not to exceed $500.
GENERAL GARNISHMENT
EXEMPTIONS
95% of 1st $100, 90% of 2nd $100, 80% net wages in excess of $200
per mo. or federal limits whichever is greater
COLLECTION AGENCY
BOND & LICENSE
- Bond: $25,000/$15,000
each branch
- License: Registration
with 'DCCA' required for consumer, not commercial, collections
- Fee:
- $ 25 - Application
- $ 80 - Registration
- $ 50 - Compliance
- $155 for 2
years
[TOP]
INTEREST RATE
- Legal: 12%
- Judgment: 10.875%
plus the base rate
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 4
- Oral Contract:
4
- Written Contract:
5
- Domestic Judgment:
5 renewable
- Foreign Judgment:
6 renewable
BAD CHECK LAWS (CIVIL
PENALTY)
Triple amount of check up to $500 over the check amount
GENERAL GARNISHMENT
EXEMPTIONS
See federal law.
COLLECTION AGENCY
BOND & LICENSE
- Bond: $5,000 initial
- License: Yes
- Fee: $100 -permit
fee $50 - renewal
- Exemption for
out-of-state collectors: Out-of-state collectors may qualify for
a special license if [1] only collecting for client; and [2] are
licensed and bonded by any state.
[TOP]
INTEREST RATE
STATUTE OF LIMITATIONS
(IN YEARS)
- Sales (UCC): 4
- Open Acct.: 5
- Written Contract:
10
- Domestic Judgment:
20
- Foreign Judgment:
Same as foreign jurisdiction
BAD CHECK LAWS (CIVIL
PENALTY) Triple check amount up to $500, attorney fees & court
costs.
GENERAL GARNISHMENT
EXEMPTIONS
15% of gross wages or disposable earnings for workweek up to 45
x fed. min. hourly wage, whichever is greater.
COLLECTION AGENCY
BOND & LICENSE
- Bond: $25,000
- License: Yes
- Fee:
- $750 - Original
- $750 - Renewal
- Exemption for
out-of-state collectors: Out-of-state collectors may be exempt
if [1] not soliciting accounts in Illinois; [2] their state of
residence has laws which provide similar reciprocity (allow out-of-state
agencies to collect only); and [3] the state in which the non-Illinois
agency resides extends the same privileges to out-of-state agencies.
[TOP]
INTEREST RATE
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 6
- Written Contract
for payment of money
- (executed
before 9/l/82): 10
- (executed
after 8/31/82): 6
- Written Contract
(other than payment of money): 10
- Written Contract
for sale of goods: 4
- Domestic Judgment:
- 10 on real
estate
- 20 against
the person
- Foreign Judgment:
10
BAD CHECK LAWS (CIVIL
PENALTY)
Triple check amount up to $500 over check amount, + attorney fees
& interest up to 18% per annum or triple check amount + attorney
fees and interest at 8% per annum.
GENERAL WAGE GARNISHMENT
EXEMPTIONS
75% of disposable earnings for work week or the amount of 30 x fed.
min. hourly wage, whichever is greater.
COLLECTION AGENCY
BOND & LICENSE
- Bond: $5000 each
office
- License: Yes
- Fee:
- $100 plus
$5 per annum, each unlicensed employee
- $30 branch
office
- $80 - Renewal
- Exemption for
out-of-state collectors: Out-of-state collectors are exempt from
licensing if [1] collecting for a nonresident creditor; and [2]
collection activities limited to interstate communications (phone,
fax, mail).
[TOP]
INTEREST RATE
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 5
- Written Contract:
10
- Domestic Judgment:
10-can be renewed in the 9th year
- Foreign Judgment:
10-can be renewed in the 9th year
BAD CHECK LAWS (CIVIL
PENALTY)
Triple check up to $500 over check amount
GENERAL GARNISHMENT
EXEMPTIONS
See federal law.
COLLECTION AGENCY
BOND & LICENSE
- Bond: No
- License: No
- Fee: No
[TOP]
INTEREST RATE
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 3
- Written Contract:
5
- Domestic Judgment:
5 renewable
- Foreign Judgment:
5 renewable
BAD CHECK LAWS (CIVIL
PENALTY)
Three times check amount not exceeding the check amount by $500
or $100 whichever is greater plus attorney fees
GENERAL GARNISHMENT
EXEMPTIONS
- See Federal Law
- Plus other personal
property, benefit exemptions, and homestead
COLLECTION AGENCY
BOND & LICENSE
- Bond: No
- License: No
- Fee: No
[TOP]
INTEREST RATE
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 5
- Written Contract:
15
- Oral Contract:
5
- Domestic Judgment:
15
- Foreign Judgment:
15
BAD CHECK LAWS (CIVIL
PENALTY)
N/A
GENERAL GARNISHMENT
EXEMPTIONS
75% of disposable income or 30 times the federal minimum hourly
wage (whichever is greater)
COLLECTION AGENCY
BOND & LICENSE
- Bond: No
- License: No
- Fee: No
[TOP]
INTEREST RATE
- Legal: 9.75%
- Judgment: 9.75%
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 3
- Written Contract:
10
- Promissory Notes:
5
- Domestic Judgment:
10
- Foreign Judgment:
10
BAD CHECK LAWS (CIVIL
PENALTY)
After 30 day written demand (certified or registered), twice check
amount. Attorney fees & court costs
GENERAL GARNISHMENT
EXEMPTIONS
75% disposable earnings per work week, but not less than 30 x fed.
min. hourly wage.
COLLECTION AGENCY
BOND & LICENSE
- Bond: Yes - $10,000
- License: Yes
- Fee:
- $200 Initial
- $200 Investigation
- $200 Renewal
- $100 Branch
- $100 Branch
Renewal
[TOP]
INTEREST RATE
- Legal: 8%
- Post Judgment:
15% annual (less than $30,000) T-Bill rate over $30,000
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 6
- Written Contract:
6 + 20 (with attestment) Domestic Judgment: 20
- Foreign Judgment:
20
BAD CHECK LAWS (CIVIL
PENALTY)
Amount due, court costs, service costs & collection costs
GENERAL GARNISHMENT
EXEMPTIONS
You may garnish 25% of disposable income or 40 times the federal
minimum wages per week (whichever is less) After judgment only.
COLLECTION AGENCY
BOND & LICENSE
- Bond: $25,000
to $50,000
- License: Yes
- Fee: $400 Yearly
- Exemption for
out-of-state collectors: Contact state authority. Licensing authority
is allowing some exemptions to out-of-state agencies that collect
for nonresident creditors and are not soliciting.
[TOP]
INTEREST RATE
- Legal: 6%
- Judgment: 10%
or contractual
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 3
- UCC: 4
- Specialty: 12
(contract under seal)
- Written Contract:
3
- Domestic Judgment:
12
- Foreign Judgment:
12
BAD CHECK LAWS (CIVIL
PENALTY)
After 30 day written notice, amount due, $25 fee, twice check amount
up to $1000. (At the discretion of the court.) Applies to COD sales
only.
GENERAL GARNISHMENT
EXEMPTIONS
Greater of 75% or amount = to $145 x no. of wks. in which wages
due were earned; except in Caroline, Worchester, Kent & Queen
Anne's Counties, see federal law. Exemption is up to $3,000 in cash
and/or property for non-wage property exemption.
COLLECTION AGENCY
BOND & LICENSE
- Bond: $5000
- License: Yes
- Fee: $200 each
office
[TOP]
INTEREST RATE
- Legal: 6%
- Judgment: 12%
- Contract: 12%
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct. on
Contract: 6
- Contract: 6
- Sales (UCC) Contract:
4
- Domestic Judgment:
20 (presumed satisfied after 20 years)
- Foreign Judgment:
20
- Contracts Under
Seal: 20
BAD CHECK LAWS (CIVIL
PENALTY)
- Amount due, costs
of suit, protest fees
- Additional damages
$100 - $500 can be assessed.
GENERAL GARNISHMENT
EXEMPTIONS $125 week
COLLECTION AGENCY
BOND & LICENSE
- Bond: $10,000
- $25,000
- License: Yes
- Fee: Determined
by commissioner
[TOP]
INTEREST RATE
- Legal: 5%
- Judgment: 7.162
changes semiannually
- Usury limit 25%
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 6
- Written Contract:
6
- Sales (UCC) Contract:
4
- Domestic Judgment:
10 renewable
- Foreign Judgment:
10
BAD CHECK LAWS (CIVIL
PENALTY)
- Twice the amount
of check-not to exceed $500.
- Retail Claims
- Notice Requirements.
GENERAL GARNISHMENT
EXEMPTIONS See federal law.
COLLECTION AGENCY
BOND & LICENSE (RETAIL ONLY)
- Bond: $5,000 -
$50,000
- License: Yes
- Fee:
- $150 - Investigation
- $225 - Initial
- $125 - Annually
- Exemption for
out-of-state collectors: Out-of-state collector are exempt if
[1] collecting by interstate means; and [2] have no clients in
the state of Michigan.
[TOP]
INTEREST RATE
- Legal: 6%
- Judgment: 5% (Changes
Yearly)
- Business or Agricultural
Loan: 4.5% over federal discount rate
STATUTE OF LIMITATIONS
(IN YEARS)
- Goods Sold &
Delivered (UCC): 4
- Open Acct.: 6
- Written Contract:
6
- Transportation
Service: 3
- Domestic Judgment:
10
- Foreign Judgment:
10
BAD CHECK LAWS (CIVIL
PENALTY)
$100 or up to 100% of the value of the check, whichever is greater,
plus interest at the rate payable on judgments on the face amount
of check, plus reasonable attorney fees if aggregate amount of checks
within 6 month period is over $1250.
GENERAL GARNISHMENT
EXEMPTIONS
Greater of 75% or amount = to 40 x fed. min. hourly wage
COLLECTION AGENCY
BOND & LICENSE
- Bond: $5,000 to
$20,000
- License: Yes
- Fee:
- $1,000 - Initial
- $400 - Annual
- $10 - Per
Collector
[TOP]
INTEREST RATE
- Legal: 8%
- Judgment: amount
in contract if no contract amount court decides
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 3
- Written Contract:
3
- UCC: 6
- Domestic Judgment:
7
- Foreign Judgment:
7 (3 if resident)
BAD CHECK LAWS (CIVIL
PENALTY)
On checks up to and including $25.00, additional damages would be
100% of check amount. On checks from $25.01 to $200.00, additional
damages would be 50% of check amount but not less than $25.00. On
checks over $200.00 additional damages would be 25% of check amount.
GENERAL GARNISHMENT
EXEMPTIONS
See federal law.
COLLECTION AGENCY
BOND & LICENSE
- Bond: No
- License: City-Business
- Fee: $15-$50
[TOP]
INTEREST RATE
STATUTE OF LIMITATIONS
(IN YEARS)
- Sale of Goods:
4
- Open Acct.: 5
- Written Contract:
10
- Money & Property:
- Domestic Judgment:
10 (Revived every 3 years)
- Foreign Judgment:
10 (Revived every 3 years)
BAD CHECK LAWS (CIVIL
PENALTY)
Three times face amount owed or $100 whichever is greater not to
exceed $500 (exclusive of attorney fees)
GENERAL GARNISHMENT
EXEMPTIONS
See federal law; exempt 90% of week's net pay, head of household,
single person w/o depend. = 75%
COLLECTION AGENCY
BOND & LICENSE
- Bond: No
- License: No
- Fee: No
[TOP]
INTEREST RATE
- Legal: 10%
- Judgment: 10%
- A binding written
agreement may provide for interest of 15% or 6% above prime
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 5
- Written Contract:
8
- Domestic Judgment:
6 (over $5000) Renewable
- Foreign Judgment:
6 Renewable
BAD CHECK LAWS (CIVIL
PENALTY)
$100 minimum or 3 times face value up to $500
GENERAL GARNISHMENT
EXEMPTIONS
See federal law.
COLLECTION AGENCY
BOND & LICENSE
- Bond: No
- License: No
- Fee: No
Caveats:
Foreign corporations should register with MT Sec. of State prior
to any suit in MT Courts or risk dismissal.
Attorney fees only if provided by a signed written agreement.
[TOP]
INTEREST RATE
- Legal: 12% per
written instrument or contract rate
- Judgment: 1% above
bond equivalent yield as published by U.S. Treasury
STATUTE OF LIMITATIONS
(IN YEARS) Open Acct.: 4 Written Contract: 5 Domestic Judgment:
5 renewable every 5 Foreign Judgment: 5 nonrenewable
BAD CHECK LAWS (CIVIL
PENALTY)
Amount due, costs, protest fees
GENERAL GARNISHMENT
EXEMPTIONS
Greater of 75% disposable earnings (85% if head of household), or
30 x fed. minimum hourly wage.
COLLECTION AGENCY
BOND & LICENSE
- Bond: Based on
Lic. Solic. Less Than 5 = 5,000, 5-15=$10,000, 16-Up=$15,000
- License: Yes
- Fee: (not to exceed)
- $250 - Investigation
- $200 - Original
- $100 - Renewal
- $50 - Investigation
Branch Office
- $35 - Original
Branch Office
- Exemption for
out-of-state collectors: Out-of-state collectors are exempt if
[1] communicating by interstate means (phone, fax, mail); and
[2] are "regulated" by the laws of another state.
[TOP]
INTEREST RATE
- Legal: 2% Over
Prime
- Judgment: 2% Over
Prime
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 4
- Written Contract:
6
- Lease: 4
- Domestic Judgment:
6
- Foreign Judgment:
6
BAD CHECK LAWS (CIVIL
PENALTY)
Amount due, protest fees three times check amount not more than
$500, or less than $100
GENERAL GARNISHMENT
EXEMPTIONS
Garnish only. 25% of Disposable earnings for each week or 30 times
federal minimum hourly wage (whichever is less)
COLLECTION AGENCY
BOND & LICENSE
- Bond: $25,000
to $50,000
- License: Yes
- Fee:
- $250 - App.
Survey
- $300 - Original
- $200 - Renewal
- Exemption for
out-of-state collectors: Out-of-state collectors are exempt if
[1] collecting by interstate means (phone, fax, mail); and [2]
collecting for an out-of-state client.
[TOP]
INTEREST RATE
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 3
- For Goods: 4
- Written Contract:
3
- For Goods: 4
- Domestic Judgment:
20
- Foreign Judgment:
20
BAD CHECK LAWS (CIVIL
PENALTY)
Amount due, interest, court costs, reasonable costs of collection
& $10 per day (max. $50)
GENERAL GARNISHMENT
EXEMPTIONS
50 x fed. min. hourly wage - All future wages are exempt so that
the court cannot issue an ongoing order.
COLLECTION AGENCY
BOND & LICENSE
- Bond: No
- License: No
- Fee: No
[TOP]
INTEREST RATE
- Legal: 6%
- Judgment: No Statutory
Provision
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 6
- Sale of Goods:
4
- Written Contract:
6
- Domestic Judgment:
20
- Foreign Judgment:
20
BAD CHECK LAWS (CIVIL
PENALTY)
N/A
GENERAL GARNISHMENT
EXEMPTIONS
$142.50 wk. min. 10% of gross earnings $142.50 & Over
COLLECTION AGENCY
BOND & LICENSE
- Bond: $5000 Surety
- License: No
- Fee: No
[TOP]
INTEREST RATE
- Judgment: 8.75%
(in the absence of a written contract)
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 4
- Written Contract:
6
- Domestic Judgment:
14
- Foreign Judgment:
14
BAD CHECK LAWS (CIVIL
PENALTY)
- Amount due, triple
damages up to $500 per check.
- Complex requirements
need to be met.
GENERAL GARNISHMENT
EXEMPTIONS
Greater of 75% or amount each wk. = to 40 x fed. min. hourly wage
COLLECTION AGENCY
BOND & LICENSE
- Bond: $5,000 minimum
- based on volume
- License: Yes
- Fee:
- $500 - original
collection agency or branch
- $300 - renewal
collection agency or branch
- $100 - examination
fee for manager's license
- $50 - manager
renewal
- Exemption for
out-of-state collectors: Out-of-state agency is exempt if [1]
collecting by interstate means (phone, fax, mail); and [2] debt
was incurred outside the state of New Mexico.
[TOP]
INTEREST RATE
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 6
- Written Contract:
6
- Domestic Judgment:
20 (1 0 yr. renewable lien)
- Foreign Judgment:
20 (1 0 yr. renewable lien)
BAD CHECK LAWS (CIVIL
PENALTY)
Face value of check plus two times check amount up to a maximum
of $400 on NSF or $750 on "no account" (Demand prescribed
by law). GEN.OB.1.1-104
GENERAL GARNISHMENT
EXEMPTIONS
90% of earnings, except 1st $127.50 wk. wholly exempt.
COLLECTION AGENCY
BOND & LICENSE
- Bond: No
- License: No
- Fee: No
- Buffalo: $5,000
Bond - $50 fee
- NYC: License -
$150 - 2 yr. fee
[TOP]
INTEREST RATE
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 3
- Sale of Goods:
4
- Written Contract:
3
- Domestic Judgment:
10
- Foreign Judgment:
10
BAD CHECK LAWS (CIVIL
PENALTY)
30 day written demand lesser of $500 or 3x check amount, but not
less than $100.
GENERAL GARNISHMENT
EXEMPTIONS
100% of last 60 days' earnings for family support. Garnishment only
by political subdivisions for taxes, ambulance fees, etc.
COLLECTION AGENCY
BOND & LICENSE
- Bond: $5,000 to
$50,000
- License: Yes
- Fee: $500
- Exemption for
out-of-state collectors: Contact state authorities. Unofficially,
licensing authorities may allow out-of-state agencies to bypass
requirements if they do not solicit in state and/or work for instate
clients.
[TOP]
INTEREST RATE
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct. for
services: 6
- Sale of Goods:
4
- Written Contract:
6
- Domestic Judgment:
10 renewable
- Foreign Judgment:
10 renewable
BAD CHECK LAWS (CIVIL
PENALTY)
Amount due, collection fees of $20, and $100 or 3x check whichever
is less.
GENERAL GARNISHMENT
EXEMPTIONS
Greater of 75% or amount each wk. = to 40 x fed. min. hourly wage.
Plus $20.00 each household dependent.
COLLECTION AGENCY
BOND & LICENSE
- Bond: $20,000
- License: Yes
- Fee: $200
- Exemption for
out-of-state collectors: Out-of-state collectors may be exempt
if [1] collecting only; [2] their office is located in a state
that has a reciprocal law; and [3] the state has "enacted
similar legislation".
[TOP]
INTEREST RATE
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 4
- Sales Contract
(UCC2-725)
- Written Contract:
15
- Domestic Judgment:
21 renew every 5
- Foreign Judgment:
21 renew every 5
BAD CHECK LAWS (CIVIL
PENALTY)
The greater of $200 or three times the amount of check and attorney
fees (no maximum)
GENERAL GARNISHMENT
EXEMPTIONS
See federal law. Garnishment limited to once a month per employee.
COLLECTION AGENCY
BOND & LICENSE
- Bond: No
- License: No
- Fee: No
[TOP]
INTEREST RATE
- Legal: 6%
- Judgment: 4% over
U.S. Treasury Bill Rate of previous year. (1996 = 9.55% 1997 =
9.15%)
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 3
- Written Contract:
5
- Domestic Judgment:
5 renewable
- Foreign Judgment:
3
BAD CHECK LAWS (CIVIL
PENALTY)
N/A
GENERAL GARNISHMENT
EXEMPTIONS
State law: 75% of earnings exempted, more if hardship established.
All federal exemptions apply.
COLLECTION AGENCY
BOND & LICENSE
- Bond: No
- License: No
- Fee: No
[TOP]
INTEREST RATE
- Statutory + Judgment:
9% simple interest per annum (Unless specified by contract)
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 6
- Sale of Goods:
6 (4 yrs UCC Transaction)
- Written Contract:
6
- Domestic Judgment:
10 - Renewable at 10
- Foreign Judgment:
10
BAD CHECK LAWS (CIVIL
PENALTY)
Can recover reasonable attorney fees & statutory damages of
three times the amount of the NSF check plus$500 if demand letter
is sent to debtor 30 days before suit is filed.
GENERAL GARNISHMENT
EXEMPTIONS
75% of disposable earnings or 40 x fed. min. hourly wage.
COLLECTION AGENCY
BOND & LICENSE
- Bond: No
- License: Registration
only
- Fee: Established
by director
- Exemption for
out-of-state collectors: Contact state authorities. Out-of-state
agencies may be exempt if [1] collecting for out-of-state client;
[2] the debt was incurred by an Oregonian outside the state; and
[3] the state where the collection agency is headquartered has
a registration program comparable to Oregon's law.
[TOP]
INTEREST RATE
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 4
- Written Contract:
4
- Domestic Judgment:
5 (writ of revival within 5 yrs.)
- Foreign Judgment:
4
- -Lien against
real estate: 5 yrs.
- -Personal
property Ex: 20 yrs.
BAD CHECK LAWS (CIVIL
PENALTY)
After demand and judgment triple damages in amount equal to $1 00
or 3 times the check amount whichever is greater up to $500.
GENERAL GARNISHMENT
EXEMPTIONS
100%of wages, certain pensions, retirement accounts & Keogh
plan under certain circumstances, and $300.
COLLECTION AGENCY
BOND & LICENSE
- Bond: No
- License: No
- Fee: No
[TOP]
INTEREST RATE
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 10
- Written Contract:
10
- Domestic Judgment:
20
- Foreign Judgment:
20
BAD CHECK LAWS (CIVIL
PENALTY)
Amount of check, $25 fee & treble damage up to $1000
GENERAL GARNISHMENT
EXEMPTIONS
See federal law.
COLLECTION AGENCY
BOND & LICENSE
- Bond: No
- License: No
- Fee: No
[TOP]
INTEREST RATE
- Legal: 8.75%
- Judgment: 12%
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 3
- Written Contract:
3
- Domestic Judgment:
10
- Foreign Judgment:
10
BAD CHECK LAWS (CIVIL
PENALTY)
Reasonable court costs amount of check& damages up to $500 or
3x check amount whichever is smaller
GENERAL GARNISHMENT
EXEMPTIONS
100%
COLLECTION AGENCY
BOND & LICENSE
- Bond: No
- License: Yes -
all business
- Fee: No
- Exemption for
out-of-state collectors: License required for instate agency only.
[TOP]
INTEREST RATE
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 6
- Sale of Goods:
4
- Written Contract:
6
- Domestic Judgment:
20
- Foreign Judgment:
10
BAD CHECK LAWS (CIVIL
PENALTY)
N/A
GENERAL GARNISHMENT
EXEMPTIONS
20% of the individuals disposable earnings for a 60 day period
COLLECTION AGENCY
BOND & LICENSE
- Bond: No
- License: No
- Fee: No
[TOP]
INTEREST RATE
- Legal: 10%
- Judgment: 10%
(or contract rate) (varies with type of transaction)
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 6
- Written Contract:
6
- Domestic Judgment:
10
- Foreign Judgment:
10
BAD CHECK LAWS (CIVIL
PENALTY)
Treble damages up to $500 + 10% interest & reasonable service
charges, atty.'s fees, & court costs.
GENERAL GARNISHMENT
EXEMPTIONS
See federal law. Add $2.50 per wk. for dependent child under 16.
COLLECTION AGENCY
BOND & LICENSE
- Bond:
- $15,000 1-4
employee
- $20,000 5-9
employee
- $25,000 10
or more
- License: Yes
- Fee:
- $600 - Original
- $350 - Renewal
- $25 - Each
Solicitor
- Exemption for
out-of-state collectors: Contact state licensing authority. Out-of-state
agencies may be exempt if they [1] maintain office in another
state; [2] resides in a state that provides reciprocity; and [3]
comply with provisions of licensing.
[TOP]
INTEREST RATE*
- Legal: 6% with
agreement can charge up to 18%. w/o agreement - statutory interest
of 6% begins to run 30th day after becoming due
- Judgment: 10%
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 4
- Written Contract:
4
- Domestic Judgment:
10 (Renewable)
- Foreign Judgment:
10 (Renewable)
BAD CHECK LAWS (CIVIL
PENALTY)
N/A
GENERAL GARNISHMENT
EXEMPTIONS
100% of Wages
COLLECTION AGENCY
BOND & LICENSE
- Bond: Yes
- License: No
- Fee: No
Always consult counsel
to charge interest - Texas has very onerous usury laws &
penalties.
[TOP]
INTEREST RATE
- Legal: 7.35%
- Judgment: Contract
rate or Federal Judgment Rate
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 4
- Written Contract:
6
- Domestic Judgment:
8
- Foreign Judgment:
8
BAD CHECK LAWS (CIVIL
PENALTY)
Certified statutory bad check notice must be sent. Amount due, interest,
court costs, reasonable attorney's fees, plus $15 bad check fee.
GENERAL GARNISHMENT
EXEMPTIONS
$142.50 of disposable earnings for wages paid weekly.
COLLECTION AGENCY
BOND & LICENSE
- Bond: $10,000
- License: Yes
- Fee: Varies by
City and County.
[TOP]
INTEREST RATE
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 6
- Written Contract:
6
- Domestic Judgment:
8
- Foreign Judgment:
8
BAD CHECK LAWS (CIVIL
PENALTY)
Court costs, amount of check, attorney's fees, damage of $50. (Notices
required)
GENERAL GARNISHMENT
EXEMPTIONS
75% of earning above minimum wage or what is necessary to live.
COLLECTION AGENCY
BOND & LICENSE
- Bond: No
- License: No
- Fee: No
[TOP]
INTEREST RATE
- Legal: 8%
- Judgment: 9% or
contract rate whichever is higher
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 3
Last charge or payment Written Contract: 5
- Domestic Judgment:
20
- Foreign Judgment:
10
- Sales of goods
under article 2 is 4 years
BAD CHECK LAWS (CIVIL
PENALTY)
Lesser of $250 or three times check amount
GENERAL GARNISHMENT
EXEMPTIONS
See federal law
COLLECTION AGENCY
BOND & LICENSE
- Bond:$5000
- License: Depends
on Locality
- Fee: No
[TOP]
INTEREST RATE
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 3
- Written Contract:
6
- Domestic Judgment:
10
- Foreign Judgment:
10
BAD CHECK LAWS (CIVIL
PENALTY)
Lesser of check amount or 12% interest, collection costs up to $40.
If taken to court, reasonable attorney's fees, 3 x value, or up
to $300. Now have 6 years to enforce a bad check.
GENERAL GARNISHMENT
EXEMPTIONS
Greater of 75% or $64 wk. (40 x state min. hourly wage).
COLLECTION AGENCY
BOND & LICENSE
- Bond: $6000 general,
$4000 specialty
- License: Yes
- Fee:
- $100 - Investigation
- $100 - Original
- $100 - Renewable
- $50 - Branch
Office
- Exemption for
out-of-state collectors: Contact state authorities. Out-of-state
agencies may qualify for lesser licensing fees. Out-of-state collectors
are no longer required to have resident office and instate trust
accounts if they don't have instate client. Bond is not required
if held in home state.
[TOP]
INTEREST RATE
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 5
- Written Contract:
10
- Domestic Judgment:
10
- Foreign Judgment:
10
BAD CHECK LAWS (CIVIL
PENALTY)
Amount due, service charge up to $10. If check is under $500.00
= misdemeanor. Over $500.00 = felony.
GENERAL GARNISHMENT
EXEMPTIONS
See West VA code 38-5A-3-Employees withhold 20% of disposable income
or 30x the minimum hourly rate, whichever is less. Other exemptions
apply.
COLLECTION AGENCY
BOND & LICENSE
- Bond: $5,000
- License: Yes -
Franchise Reg. Cert.
- Fee: $15 Annual
- Exemption for
out-of-state collectors: Contact state authorities. Some out-of-state
agencies may be exempt if they are only collecting for out-of-state
clients.
[TOP]
INTEREST RATE
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 6
- Written Contract:
6
- Domestic Judgment:
20
- Foreign Judgment:
20
BAD CHECK LAWS (CIVIL
PENALTY)
Amount of check plus actual damages + exemplary damages
up to three times value of check. Limited to $300.
GENERAL GARNISHMENT
EXEMPTIONS
80% of net pay.
COLLECTION AGENCY
BOND & LICENSE
- Bond: $15,000
min.
- License: Yes
- Fee:
- $1000 - Investigation
- $200 - Annual
- Exemption for
out-of-state collectors: Out-of-state agencies do not need to
be licensed if [1] collecting by interstate means (phone, fax,
mail); and [2] collecting for an out-of-state client.
[TOP]
INTEREST RATE
- Legal: 7%
- Judgment: contract
rate or 10% judgment rate
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 8
- Written Contract:
10
- Domestic Judgment:
5
- Foreign Judgment:
5
BAD CHECK LAWS (CIVIL
PENALTY)
Double the face amount plus damages equal to collection cost and
reasonable attorney fees.
GENERAL GARNISHMENT
EXEMPTIONS
See federal law for consumer credit sale, lease or loan. Up to 65%
for child support arrearage.
COLLECTION AGENCY
BOND & LICENSE
- Bond: $10,000
- License: Yes
- Fee:
- $200 - Original
- $100 - Renewal
- $100 - Branch
- Exemption for
out-of-state collectors: Out-of-state agencies may bypass licensing
if they are not [1] soliciting clients in Wyoming; or [2] collecting
for Wyoming creditors.
[TOP]
INTEREST RATE
- Legal: 9.25% changes
every 6 months (6/30/97)
- Judgment: It is
Regulated by the Commissioner of the Board of Financial institutions
every 6 months.
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 3
- Merchandise Open
Acct.: 3
- Written Contract:
15
- Mortgage: 20
- Domestic Judgment:
15
- Foreign Judgment:
15
BAD CHECK LAWS (MISDEMEANOR)
See articles 1851-1856 of the Puerto Rico Penal Code regarding bad
check laws.
GENERAL GARNISHMENT
EXEMPTIONS
75% of last 30 days' earnings for family support
COLLECTION AGENCY
BOND & LICENSE
- Bond:$5000
- License: Yes
- License Fee:
- $100 - Original
- $100 - Branch
Office
- $100 - Renewable
- $100 - Investigation
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