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February 16, 2007, Newsletter Issue #76: Connecticut Collection Agency Laws
1
Tip of the Week
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.
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