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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.
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.
This information is well laid out and therefore very useful. It systematically walks the reader into what they might want to know and gives clues and links of looking deeper into a subject. I am interested in starting an agency and this is like a little "executive summary" on the subject. Nice stuff. Thanks.