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Want to learn more about state by state debt recovery? What about debt recovery in Alabama? Following is some important information on Alabama debt recovery laws including: Alabama Statute of Limitations, Alabama Judgments, Alabama Garnishments, Alabama Interest Rates, Alabama Bad Check Laws and Alabama Collection Agency Requirements.
STATUTE OF LIMITATIONS (IN YEARS)
Open Acct.: 3
Written Contract: 6
Domestic Judgment: 20
Foreign Judgment: 20
BAD CHECK LAWS (CIVIL PENALTY)
Greater of $10 or Actual Bank Charges
GENERAL GARNISHMENT EXEMPTIONS
75% of wages are exempt from garnishment
COLLECTION AGENCY BOND & LICENSE
$25 - Population under 20,000
$100 - Population over 20,000
Exemption for out-of-state collectors: Business License not required for out-of-state agency.