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.
Following is some important information on Missouri debt recovery laws including: Missouri Statutes, Missouri Judgments, Missouri Garnishments, Missouri Interest Rates, Missouri Bad Check Laws and Missouri Collection Agency Requirements.
STATUTE OF LIMITATIONS (IN YEARS)
Sale of Goods: 4
Open Acct.: 5
Written Contract: 10
Money & Property:
Domestic Judgment: 10 (Revived every 3 years)
Foreign Judgment: 10 (Revived every 3 years)
BAD CHECK LAWS (CIVIL PENALTY)
Three times face amount owed or $100 whichever is greater not to exceed $500 (exclusive of attorney fees)
GENERAL GARNISHMENT EXEMPTIONS
See federal law; exempt 90% of week's net pay, head of household, single person w/o depend. = 75%
COLLECTION AGENCY BOND & LICENSE