Oregon Collection Agency Laws

Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about About State by State Debt Recovery and other Collection Agency topics.

What are Oregon's state debt collection laws?

Oregon Collection Agency Laws

Following is some important information on Oregon state statute of limitations including: Oregon Statutes, Oregon Judgments, Oregon Garnishments, Oregon Interest Rates, Oregon Bad Check Laws and Oregon Collection Agency Requirements.

INTEREST RATE
Statutory + Judgment: 9% simple interest per annum (Unless specified by contract)

STATUTE OF LIMITATIONS (IN YEARS)
Open Acct.: 6
Sale of Goods: 6 (4 yrs UCC Transaction)
Written Contract: 6
Domestic Judgment: 10 - Renewable at 10
Foreign Judgment: 10

BAD CHECK LAWS (CIVIL PENALTY)
Can recover reasonable attorney fees & statutory damages of three times the amount of the NSF check plus$500 if demand letter is sent to debtor 30 days before suit is filed.

GENERAL GARNISHMENT EXEMPTIONS
75% of disposable earnings or 40 x fed. min. hourly wage.

COLLECTION AGENCY BOND & LICENSE
Bond: No
License: Registration only
Fee: Established by director
Exemption for out-of-state collectors: Contact state authorities. Out-of-state agencies may be exempt if [1] collecting for out-of-state client; [2] the debt was incurred by an Oregonian outside the state; and [3] the state where the collection agency is headquartered has a registration program comparable to Oregon's law.

   

Comments

Nobody has commented on this tip yet. Be the first.



Name:


URL: (optional)


Comment:


Not finding the advice and tips you need on this Collection Agency Tip Site? Request a Tip Now!


Guru Spotlight
Ray Lokar