October 5, 2007, Newsletter Issue #108: Rhode Island Collection Agency Laws

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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