California Collection Agency Laws

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. INTEREST RATE Legal: 10% Judgment: 10% (Unless otherwise contracted) 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.