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Georgia Collection Agency Laws

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What are Georgia's state debt collection laws?

Georgia Collection Agency Laws

Following is some important information on Georgia debt recovery laws including: Georgia Statutes, Georgia Judgments, Georgia Garnishments, Georgia Interest Rates, Georgia Bad Check Laws and Georgia Collection Agency Requirements.

INTEREST RATE
Legal: 7%
Judgment: 12%
Commercial Accounts: 18%

STATUTE OF LIMITATIONS (IN YEARS)
Open Acct.: 4
Written Contract: 6
Domestic Judgment: 7
Foreign Judgment: 5

BAD CHECK LAWS (CIVIL PENALTY)
After 10 day written demand double damages up to $500 and service charge of $20 or 5%, whichever is greater,

GENERAL GARNISHMENT EXEMPTIONS
See federal law. City, County & State employees may be garnished.

COLLECTION AGENCY BOND & LICENSE
Bond: No
License: No
Fee: No

   

Comments

4/19/2009 5:16:13 PM
bennett jeff said:

Why is it that if you have bonding signed consmer contract you must quote on your telephone the FDCPA knowing that the debtor is in default and can hang up at any time? Is this law not contra active to the attempt to collect on a legitimate debt?




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