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March 2, 2007, Newsletter Issue #78: California Collection Agency Laws
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Tip of the Week
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.
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.
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