Florida Collection Agency Laws

Following is some important information on Florida debt recovery laws including: Florida Statutes, Florida Judgments, Florida Garnishments, Florida Interest Rates, Florida Bad Check Laws and Florida Collection Agency Requirements.

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.

Missouri Collection Agency Laws

Following is some important information on Missouri debt recovery laws including: Missouri Statutes, Missouri Judgments, Missouri Garnishments, Missouri Interest Rates, Missouri Bad Check Laws and Missouri Collection Agency Requirements.

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

Federal Debt Collection Agency Laws

About state by state debt recovery: What most people do not know is that virtually all states - and the federal government - have consumer protection laws that forbid debt collection agencies and their progeny from engaging in harassing debt collection activity. Most states have a "fair debt collection act" which is an extremely powerful weapon for the debtor to have in its pocket. these laws entitle the debtor to sue the creditor (or to countersue him) in court if the creditor uses annoying or improper debt recovery tactics. Some examples include telephoning the debtor so many times as to constitute harassment, reporting the debtor as a deadbeat to third parties, other family members and employers, contacting the debtor's family members, and so on.

Washington Collection Agency Laws

Want to learn more about state by state debt recovery? What about debt recovery in Washington? Following is some important information on Washington debt collection laws including: Washington Statutes, Washington Judgments, Washington Garnishments, Washington Interest Rates, Washington Bad Check Laws and Washington Collection Agency Requirements.

INTEREST RATE
Legal: 12%
Judgment: 12%

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.

Oregon Collection Agency Laws

Following is some important information on Oregon state statute of limitations including: Oregon Statutes, Oregon Judgments, Oregon Garnishments, Oregon Interest Rates, Oregon Bad Check Laws and Oregon Collection Agency Requirements.

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.

Louisiana Collection Agency Laws

Want to learn more about state by state debt recovery? What about debt recovery in Louisiana?Following is some important information on Louisiana debt recovery laws including: Louisiana Statute of Limitations, Louisiana Judgments, Louisiana Garnishments, Louisiana Interest Rates, Louisiana Bad Check Laws and Louisiana Collection Agency Requirements.

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

Ohio Collection Agency Laws

Following is some important information on Ohio debt collection laws including: Ohio Statutes, Ohio Judgments, Ohio Garnishments, Ohio Interest Rates, Ohio Bad Check Laws and Ohio Collection Agency Requirements.

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

Illinois Collection Agency Laws

Following is some important information on Illinois debt recovery laws including: Illinois Statutes, Illinois Judgments, Illinois Garnishments, Illinois Interest Rates, Illinois Bad Check Laws and Illinois Collection Agency Requirements.

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.

New Mexico Collection Agency Laws

Following is some important information on New Mexico debt collection laws including: New Mexico Statutes, New Mexico Judgments, New Mexico Garnishments, New Mexico Interest Rates, New Mexico Bad Check Laws and New Mexico Collection Agency Requirements.

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.

California Collection Agency Laws

Following is some important information on California debt recovery laws including: California Statute of Limitations, California Judgments, California Garnishments, California Interest Rates, California Bad Check Laws and California Collection Agency Requirements.

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 necessaries of life.

COLLECTION AGENCY BOND & LICENSE
No license or bond required.

State Collection Agency Laws

Many states impose responsibilities, liabilities and penalties upon companies for activities of debt collectors engaged by them in the collection of debts. You can be held accountable for what your debt collection agency laws or collection attorney does or doesn't do. You must know the facts, and the information here can reduce your liability by giving you the information for making informed decisions. Please study our collection agency laws directory for free information regarding the collection of your receivables.

State debt collection laws vary, and knowing the right collection law for your state and your debtor's state is essential. Explore this site to discover: Collection Agency Locations, Statutes, Judgments, Garnishments, Interest Rates, Bad Check Laws and Collection Agency Requirements.

South Carolina Collection Agency Laws

Following is some important information on South Carolina state debt collection laws including: South Carolina Statutes, South Carolina Judgments, South Carolina Garnishments, South Carolina Interest Rates, South Carolina Bad Check Laws and South Carolina Collection Agency Requirements.

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.

Connecticut Collection Agency Laws

Following is some important information on Connecticut debt recovery laws including: Connecticut Statutes, Connecticut Judgments, Connecticut Garnishments, Connecticut Interest Rates, Connecticut Bad Check Laws and Connecticut Collection Agency Requirements.

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

Georgia Collection Agency Laws

Following is some important information on Georgia debt recovery laws including: Georgia Statutes, Georgia Judgments, Georgia Garnishments, Georgia Interest Rates, Georgia Bad Check Laws and Georgia Collection Agency Requirements.

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

Colorado Collection Agency Laws

Following is some important information on Colorado debt recovery laws including: Colorado Statute of Limitations, Colorado Judgments, Colorado Garnishments, Colorado Interest Rates, Colorado Bad Check Laws and Colorado Collection Agency Requirements.

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.

Kentucky Collection Agency Laws

Following is some important information on Kentucky debt recovery laws including: Kentucky Statutes, Kentucky Judgments, Kentucky Garnishments, Kentucky Interest Rates, Kentucky Bad Check Laws and Kentucky Collection Agency Requirements.

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

Alabama Collection Agency Laws

Want to learn more about state by state debt recovery? What about debt recovery in Alabama? Following is some important information on Alabama debt recovery laws including: Alabama Statute of Limitations, Alabama Judgments, Alabama Garnishments, Alabama Interest Rates, Alabama Bad Check Laws and Alabama Collection Agency Requirements.

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.