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October 5, 2007, Newsletter Issue #108: Rhode Island Collection Agency Laws
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Tip of the Week
Following is some important information on Rhode Island state debt collection laws including: Rhode Island Statutes, Rhode Island Judgments, Rhode Island Garnishments, Rhode Island Interest Rates, Rhode Island Bad Check Laws and Rhode Island Collection Agency Requirements.
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 Bond: No License: No Fee: No
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