Alabama Collection Agency Laws

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. INTEREST RATE Legal: 6% Judgment: 12% 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 Bond: No License: Yes Fee: $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.