Connecticut Collection Agency Laws

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. COLLECTION AGENCY BOND & LICENSE Bond: $5000 License: Yes Fee: $200 Yearly $50 Investigation