SUMMARY OF COLLECTION LAWS

*Denotes States having community property laws.

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) - Actual Bank charges GENERAL GARNISHMENT EXEMPTIONS - 75% of wages are exempt from garnishment COLLECTION AGENCY BOND & LICENSE - Bond: No - License: No - Fee: $25 if the Population is under 20,000 or $100 if the Population is over 20,000
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 checks. 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
* 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
ARKANSAS INTEREST RATE - Legal: 6% or 5 points above the Fed. discount rate Judgment 5 points above the Federal discount rate or 10% per annum whichever is less 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 the 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/$1500 Branch - License: Yes - Fee: $125 -$5 each employee
* 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 necessities of life. COLLECTION AGENCY BOND & LICENSE - No license or bond required.
COLORADO INTEREST RATE - Legal: 8% - Judgment 8% (or higher if specified in contract or note) STATUTE OF LIMITATIONS (IN YEARS) - Open Acct: 6 - 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: $10,000 - 20,000 - License: Yes - Fee: Determined by collection agency board
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. mm. hourly wage, whichever is less. COLLECTION AGENCY BOND & LICENSE - Bond: $5000 - License: Yes - Fee: $200 Yearly $50 Investigation
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 tees GENERAL GARNISHMENT EXEMPTIONS - 85% of disposable earnings or disposable earnings minus 127.50 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 rates 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
FLORIDA INTEREST RATE - Legal: 10% - Judgment 10% or contractual STATUTE OF LIMITATIONS (IN YEARS) - Open Acct: 4 - Written Contract 5 - Domestic Judgment 7 Renewable - Foreign Judgment Sit not recorded in-state 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
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 ot $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
HAWAII  INTEREST RATE - Legal: 10% - Judgment 10% (no written contract) STATUTE OF LIMITATIONS (IN YEARS) - Sale of Goods: 4 - 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" - Fee: $25- Application - $80- Registration $80 - Renewal - $50- Compliance = $155 for 2 years
* 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: Greater of $5,000 or 2 x average monthly net collections previous year plus $2000 to indemnify state for costs - License: Yes - Fee: $100 - permit fee - $50 - renewal
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 ted. mm. hourly wage, whichever is greater. COLLECTION AGENCY BOND & LICENSE - Bond: $25,000 - License: Yes - Fee: $75 - Original $60 - Renewal
INDIANA INTEREST RATE - Legal: 8% - Judgment 8% STATUTE OF LIMITATIONS (IN YEARS) - Open Acct: 6 - Written Contract for payment of money -(executed before 9/1/82): 10 (executed after 8/31/82): 6 - Written contract (other than payment of money): 10 - Domestic Judgment 10 - 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 25% of triple check amount + attorney tees and interest at 8% per annum. GENERAL WAGE GARNISHMENT EXEMPTIONS - 75% of disposable earnings for workweek or the amount of 30 x ted. mm. hourly wage, whichever is greater. COLLECTION AGENCY BOND & LICENSE - Bond: $5000 each office - License: Yes - Fee: $50 plus $5 per annum, each unlicensed employee $15 branch office
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 next year - Foreign Judgment 10 - can be renewed in the next 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
KANSAS INTEREST RATE - Legal: 10% - Judgment 4 percentage points above the discount 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, $500 or $100 whichever is greater plus attorney tees GENERAL GARNISHMENT EXEMPTIONS - See federal law. Plus other personal property, benefit exemptions, and homestead COLLECTION AGENCY BOND & LICENSE - Bond: No - License: No - Fee: No
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 -25% of disposable income or 30 times the federal minimum hourly wage (whichever is less) COLLECTION AGENCY BOND & LICENSE - Bond: No - License: No - Fee: No 
LOUISIANA INTEREST RATE FOR 1996 - 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. mm. hourly wage. COLLECTION AGENCY BOND & LICENSE - Bond: Yes - $10,000 - License: Yes - Fee: $200 Initial I $200 Investigation I $200 Renewal $100 Branch I $100 Branch Renewal
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: Yes- Per Superintendent - License: Yes - Fee: $400 Yearly
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% of 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. COLLECTION AGENCY BOND & LICENSE - Bond: $5,000 each office - License: Yes - Fee: $150 each office
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 - Contract 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 - $l25 a week COLLECTION AGENCY BOND & LICENSE - Bond: $10,000 -$25,000 - License: Yes - Fee: Determined by commissioner
MICHIGAN INTEREST RATE - Legal: 5% - Judgment 6.953 changes semi-annually - Usuary limit 25% STATUTE OF LIMITATION (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
MINNESOTA INTEREST RATE - Legal: 6% - Judgment 5% (Changes Yearly) Business or Agricultural Loan: 4% 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) - Amount due, $100 penalty, judgment interest rate, reasonable attorneys fees (if check over $1250), $15 service charge. GENERAL GARNISHMENT EXEMPTIONS - Greater of 75% or amount to 40 x fed. mm. hourly wage. COLLECTION AGENCY BOND & LICENSE - Bond: $20,000 - License: Yes - Fee: $1,000 - Initial $400 - Annual $10 - Per Collector
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 $100 or more - not more than $1000 fee + court may impose fee of no more than 85% of the check value. Criminal penalties & restitution apply. GENERAL GARNISHMENT EXEMPTIONS - See federal law. COLLECTION AGENCY BOND & LICENSE - Bond: No - License: City - Business - Fee:$15-$50
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 10 years)
Foreign Judgment: 10 (Revived every 10 years)

Bad Check Laws (civil penalty)
Three times face amount owed plus attorney's 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
Contact: Secretary of State
600 W. Main Street
Jefferson City, MO 65101
Phone: (573) 751-4936
email:
SOSMain@sosmail.state.
mo.us
web: www.sos.mo.gov
/default.asp

MONTANA

 

Interest Rate
Legal: 10%
Judgment: 10%
A binding written agreement may provide for interest of 15% or 6% above prime (whichever is more).
Exemption to Interest Law: Short Term Lenders (90 days or less) can receive high interest - 300%-400% APR
Also subject to exception are regulated lenders.

Statute of Limitations (in years)
Contract not in Writing: 5
Written Contract: 8
Domestic Judgment: 10 (District Court)
(Realty lien for only 10 in District Court)
Justice of Peace Judge: 10
Tort Claim (Subrogation) Prop & Personal: 3

 

Bad Check Laws (civil penalty)
$100 minimum or 3 times face value up to $500 plus face value of check
and under UCC the value of the check plus $30 service charge per check.

 

General Garnishment Exemptions
See federal law. State law provides for executions
 
NEBRASKA

Interest Rate
Legal: 12% per written instrument or contract rate
Judgment: 2% above the bond investment yield of the 28 week U.S. Treasury bill

 

Statute of Limitations (in years)
Open Acct.: 4
Written Contract: 5
Domestic Judgment: 5 - renewable every 5
Foreign Judgment: 5 non-renewable

 

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
Contact: Collection Agency Licensing Board
Secretary of State
2300 State Capitol Building
Lincoln, NE 68509
Phone: (402) 471-8606 Fax: (402) 471-2530
email: sos04@nol.org
web:
www.sos.state.ne.us/collections

/collecti.htm
NEVADA

Interest Rate
Contract rate always prevails. If no contract:
Pre-judgment: Statutory rate = 2% Over Prime
as determined by 3 largest NV banks and adjusted every 6 months.
Judgment: Same as pre-judgment

Statute of Limitations (in years)
Open Acct.: 4
Written Contract: 6
Lease: 6
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
Wages no more than 25% of Disposable earnings for each week or
30 times federal minimum hourly wage (whichever is less) except for support orders.

Collection Agency Bond & License
Contact: Nevada Financial Institutions Division
406 E. 2nd Street, Suite 3

Carson City, NV 89701-4758
Phone: (775) 684-1830 Fax: (775) 684-1845
web: www.fid.state.nv.us

 

NEW YORK

Interest Rate
Legal: 9%
Judgment: 9%
Usury: 16%

 

Statute of Limitations (in years)
Open Acct.: 6
Sale of Goods: 4
Written Contract: 6
Domestic Judgment: 20 (10 yr. renewable lien)
Foreign Judgment: 20 (10 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. (Conspicuous posting at time & place of sale required)

General Garnishment Exemptions
90% of earnings, except 1st $154.50 wk. wholly exempt (only if the person earns minimum wage).

 

Collection Agency Bond & License
Contact: Secretary of State
41 State Street
Albany, NY 12231-0001
Phone: (518) 474-0050 Fax: (518) 474-4765
email:info@dos.state.ny.us
web: www.dos.state.ny.us

 

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
Contact: North Carolina Dept. of Insurance
Agent Services Division
Box 26267
Raleigh, NC 27603
Phone: (919) 733-7487
web: www.ncdoi.com

 

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 $25, and civil penalty by civil action for lesser of $200 or 3X check. Effective 08/01/01.

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
Contact: Timothy J. Karsky, Commissioner
Dept. of Financial Institutions
2000 Schafer Street, Suite G
Bismarck, ND 58501-1204
Phone: (701) 328-9933
email:dfi@state.nd.us
web: www.discovernd.com/dfi
OHIO

Interest Rate
Legal: 10%
Judgment: 10% (unless written contract)

Statute of Limitations (in years)
Open Acct.: 6
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. Effective 3/30/99 Ohio allows continuing garnishments.

Collection Agency Bond & License
Contact:
Secretary of State
Client Service Center
30 East Broad Street
Lower Level
Columbus, OH 43215
Phone: (614) 466-3910 (877) 767-6446
web: www.state.oh.us/sos

OKLAHOMA

Interest Rate
Legal: 6% unless specified in contract
Judgment: 7.48% for 2002; 5.63% for 2003
(4% over U.S. Treasury Bill Rate of previous year)

Statute of Limitations (in years)
Sale of Goods Governed by UCC: 5
Open Acct.: 3
Written Contract: 5
Domestic Judgment: 5 renewable
Foreign Judgment: 5 renewable

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
Not Required

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 of three times the amount of the NSF check
or $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
Contact: Collection Licensing
Div. of Finance and Corporate Securities
PO Box 14480
Salem, OR 97309-0405
Phone: (503) 378-4140
web: http://dfcs.oregon.gov
PENNSYLVANIA

Interest Rate
Legal: 6%
Judgment: 6%

 

Statute of Limitations (in years)
Open Acct.: 4
Written Contract: 4
Domestic Judgment: 5 (writ of revival within 5 yrs.)
-Lien against real estate: 5 (writ of revival within 5 yrs to maintain current lien position for another 5 yr period.
If not revived in the 5 yr period judgment continues to act as a lien against real estate
but will lose its priority position compared to other judicial lien creditors.)
-Personal property Ex: 20 yrs.
Foreign Judgment: 4
**Six Year Limitation - Any civil action or proceeding which is neither subject to another limitation
specified in this subchapter nor excluded from the application
of a period of limitation by section 531 (relating to no limitation)
must be commenced within six years.

Bad Check Laws (civil penalty)
N/A

 

General Garnishment Exemptions
100% of wages, certain pensions, retirement accounts
& Keogh plan under certain circumstances and $300.

 

Collection Agency Bond & License
Not Required

 

RHODE ISLAND

Interest Rate
Legal: 12%
Judgment: 12%

 

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
Contact: Secretary of State
Room 218, State House
Providence, RI 02903
Phone: (401) 222-2357 Fax: (401) 277-1356
web: www.state.ri.us

SOUTH CAROLINA

Interest Rate
Legal: 8.75%
Judgment: 12%

 

Statute of Limitations (in years)
Open Acct.: 3 - See SC Code Section 36-2-725
Sale of Goods (UCC): 6
Written Contract: 3
Domestic Judgment: 10
Foreign Judgment: See SC Code Section 15-35-900 through 960
Written Contract under Seal: 20

Bad Check Laws (civil penalty)
Court costs amount of check & damages up to $500 or 3x check amount whichever is smaller.
See SC Code Section 34-11-90 for requirements to collect damages.

 

General Garnishment Exemptions
Garnishment not available in SC.

 

Collection Agency Bond & License
Not Required

 

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/

 

TEXAS

Interest Rate *
Legal: 18% with agreement can charge up to 6% w/o agreement -
statutory interest of 6% begins to run 30th day after becoming due
Judgment: 5%

Statute of Limitations (in years)
Open Acct.: 4
Written Contract: 4
Promissory Note: 6
Domestic Judgment: 10 (Renewable)
Foreign Judgment: 10 (Renewable)

 

Bad Check Laws (civil penalty)
N/A

 

General Garnishment Exemptions
100% of Wages. Home on 1 acre of land in the city and
200 acres if it is in the country (outside city limits), 1 car.

 

Collection Agency Bond & License
Contact: Secretary of State
Corporations Section
P.O. Box 13697
Austin, TX 78711
1019 Brazos
Austin, TX 78701
Phone: (512) 463-5555
* Always consult counsel to charge interest - Texas has very onerous usury laws & penalties.
web: www.sos.state.tx.us/corp

UTAH

Interest Rate
Legal: 10%
Judgment: 3.28%

 

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 damage equal to greater of $100 or
three times check amount (not to exceed check amount plus $500).

General Garnishment Exemptions
$142.50 of disposable earnings for wages paid weekly.

 

Collection Agency Bond & License
Dept. of Commerce
Div. of Corporations and Commercial Code
160 E. 300 S.
Salt Lake City, UT 84111
Phone: (801) 530-4849
web: www.commerce.utah.gov/
cor/ca.html

 

VERMONT

Interest Rate
Legal: 12%
Judgment: 12%

 

Statute of Limitations (in years)
Retail Security Agreements: 4
Witnessed Promissory Note: 14
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. 85% if person, family or house held debt.

Collection Agency Bond & License
Contact: Betty Poulin - Division Director
Secretary of State - Corporations Division
81 River Street, Drawer 09
Montpelier, VT 05609
Phone: (802) 828-2386 Fax: (802) 828-2853
web: www.sec.state.vt.us/corps/
corpindex.htm

VIRGINIA

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
Contact: Secretary of the Commonwealth
830 East Main Street, 14th Floor
Richmond, VA 23219
Phone: (804) 786-2441
email:
socmail@governor.virginia.gov
web: www.commonwealth.
virginia.gov
WASHINGTON

Interest Rate
Legal: 12%
Judgment: 12%

 

Statute of Limitations (in years)
Open Acct.: 6
Written Contract: 6
Domestic Judgment: 10, renewable
Foreign Judgment: 10, renewable

Bad Check Laws (civil penalty)
Interest at rate specified in instrument or, if no specified rate, 12% interest plus collection costs up to $40.
If taken to court, reasonable attorney's fees, 3 x value, or up to $800. Have 6 years to enforce a bad check.

General Garnishment Exemptions
Greater of 75% or $206 wk. (30 x state min. hourly wage).

 

Collection Agency Bond & License
Contact: Dept. of Licensing
Collection Agency Board
P.O. Box 9034
Olympia, WA 98507-9034
Phone: (360) 664-1389 Fax: (360) 570-7875
email: collect@dol.wa.gov
web: www.dol.wa.gov/mls/
colfront.htm

 

WEST VIRGINIA

Interest Rate
Legal: 6% (Contract rate prevails. Contract rate can vary between 18% and 31% max)
Judgment: 10%

 

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
Contact: West Virginia State Tax Dept.
Internal Auditing Division
PO Box 2666
Charleston, WV 25330
Phone: (304) 558-8500

 

WISCONSIN

Interest Rate
Legal: 5%
Judgment: 12%

 

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
Contact: Department of Financial Institutions
Licensed Financial Services Section
4th Floor
345 W. Washington Ave.
Madison, WI 53703
P.O. Box 7876
Madison, WI 53707-7876
Phone: (608) 261-7578 Fax: (608) 267-6889
web: www.wdfi.org/fi/lfs/ca/default.htm

WYOMING

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)
Three times amount of check but not less than $100 plus collection fee of $30.

 

General Garnishment Exemptions
See federal law for consumer credit sale, lease or loan. Up to 65% for child support arrearage.

Collection Agency Bond & License
Contact: Collection Agency License Board
Dept. of Audit, Div. of Banking
Herschler Bldg., 3rd Floor East
122 W. 25th Street
Cheyenne, WY 82002
Phone: (307) 777-7797 Fax: (307) 777-3555
web: audit.state.wy.us/banking