TENNESSEE INTEREST RATE - Legal: 10%
Judgment: 10% (or contract rate, whichever is greater)
STATUTE OF LIMITATIONS (IN YEARS) -
Open Acct.: 6
Written Contract: 6
Domestic Judgment: 10
Foreign Judgment: 10
BAD CHECK LAWS (CIVIL PENALTY) -
If, with fraudulent intent, person stops payment on the check,
allows the check to be dishonored for lack of funds,
failure to have an account or lack of authorized signature or necessary endorser,
if found liable in a civil action is liable for: Amount of Check; Interest at 10%; Reasonable Service Charge; Court Costs and Reasonable Attorneys' Fees.
If person who executed and delivered check does not pay holder full amount of check within 30 days after mailing of written notice that check has not been paid and that treble damages will be sought upon fraudulent intent the court can award treble damages up to $500, reasonable attorneys' fees and court costs.
GENERAL GARNISHMENT EXEMPTIONS -
See State Law T.C.A. 26-2-101 et seq. Add $2.50 per wk. for dependent child under 16.
COLLECTION AGENCY BOND & LICENSE -
Contact: Linda Brackett, Administrative Director
Tennessee Collection Service Board
500 James Robertson Pkwy.
Nashville, TN 37243
Phone: (615) 741-1741 Fax: (615) 741-1245
web: www.state.tn.us/commmerce/
boards/collect/