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December 8, 2006, Newsletter Issue #66: New Jersey Collection Agency Laws
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Tip of the Week
Following is some important information on New Jersey debt collection laws including: New Jersey Statutes, New Jersey Judgments, New Jersey Garnishments, New Jersey Interest Rates, New Jersey Bad Check Laws and New Jersey Collection Agency Requirements.
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
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