South Carolina Collection Agency Laws

Following is some important information on South Carolina state debt collection laws including: South Carolina Statutes, South Carolina Judgments, South Carolina Garnishments, South Carolina Interest Rates, South Carolina Bad Check Laws and South Carolina Collection Agency Requirements. INTEREST RATE Legal: 8.75% Judgment: 12% STATUTE OF LIMITATIONS (IN YEARS) Open Acct.: 3 Written Contract: 3 Domestic Judgment: 10 Foreign Judgment: 10 BAD CHECK LAWS (CIVIL PENALTY) Reasonable court costs amount of check& damages up to $500 or 3x check amount whichever is smaller GENERAL GARNISHMENT EXEMPTIONS 100% COLLECTION AGENCY BOND & LICENSE Bond: No License: Yes - all business Fee: No Exemption for out-of-state collectors: License required for instate agency only.