STATE: ALABAMA

INTEREST RATE

• Legal: 6%
• Judgment: 12%

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.

STATE: ALASKA

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

STATE: ARIZONA †

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

STATE: ARKANSAS

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

STATE: CALIFORNIA  †

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.


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STATE: COLORADO

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.

STATE: CONNECTICUT

INTEREST RATE

• Legal: 8%
• Judgment: 10%

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

STATE: DELAWARE

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

DISTRICT OF COLUMBIA

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

STATE: FLORIDA

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.

STATE: GEORGIA

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

STATE: HAWAII

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

STATE: IDAHO  †

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.

STATE: ILLINOIS

INTEREST RATE

• Legal: 5%
• Judgment: 9%

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.

STATE: INDIANA

INTEREST RATE

• Legal: 8%
• Judgment: 8%

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).

STATE: IOWA

INTEREST RATE

• Legal: 5%
• Judgment: 10%

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

STATE: KANSAS

INTEREST RATE

• Legal: 10%
• Judgment: 12%

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

STATE: KENTUCKY

INTEREST RATE

• Legal: 8%
• Judgment: 12%

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

STATE: LOUISIANA †

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

STATE: MAINE

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.

STATE: MARYLAND

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

STATE: MASSACHUSETTS

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

STATE: MICHIGAN

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.

STATE: MINNESOTA

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

STATE: MISSISSIPPI

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

STATE: MISSOURI

INTEREST RATE

• Legal: 9%
• Judgment: 9%

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

STATE: MONTANA

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.


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STATE: NEBRASKA

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.

STATE: NEVADA †

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.

STATE: NEW HAMPSHIRE

INTEREST RATE

• Judgment: 7.6%

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

STATE: NEW JERSEY

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

STATE: NEW MEXICO †

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.

STATE: NEW YORK

INTEREST RATE

• Legal: 16%
• Judgment: 9%

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

STATE: NORTH CAROLINA

INTEREST RATE

• Legal: 8%
• Judgment: 8%

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.

STATE: NORTH DAKOTA

INTEREST RATE

• Legal: 6%
• Judgment: 12%

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".

STATE: OHIO

INTEREST RATE

• Legal: 10%
• Judgment: 10%

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

STATE: OKLAHOMA

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

STATE: OREGON

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 o