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 Ohio debt collection laws including: Ohio Statutes, Ohio Judgments, Ohio Garnishments, Ohio Interest Rates, Ohio Bad Check Laws and Ohio Collection Agency Requirements.
STATUTE OF LIMITATIONS (IN YEARS)
Open Acct.: 4
Sales Contract (UCC2-725)
Written Contract: 15
Domestic Judgment: 21 renew every 5
Foreign Judgment: 21 renew every 5
BAD CHECK LAWS (CIVIL PENALTY)
The greater of $200 or three times the amount of check and attorney fees (no maximum)
GENERAL GARNISHMENT EXEMPTIONS
See federal law. Garnishment limited to once a month per employee.
COLLECTION AGENCY BOND & LICENSE