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Want to learn more about state by state debt recovery? What about debt recovery in Washington? Following is some important information on Washington debt collection laws including: Washington Statutes, Washington Judgments, Washington Garnishments, Washington Interest Rates, Washington Bad Check Laws and Washington Collection Agency Requirements.
STATUTE OF LIMITATIONS (IN YEARS)
Open Acct.: 3
Written Contract: 6
Domestic Judgment: 10
Foreign Judgment: 10
BAD CHECK LAWS (CIVIL PENALTY)
Lesser of check amount or 12% interest, collection costs up to $40. If taken to court, reasonable attorney's fees, 3 x value, or up to $300. Now have 6 years to enforce a bad check.
GENERAL GARNISHMENT EXEMPTIONS
Greater of 75% or $64 wk. (40 x state min. hourly wage).
COLLECTION AGENCY BOND & LICENSE
Bond: $6000 general, $4000 specialty
$100 - Investigation
$100 - Original
$100 - Renewable
$50 - Branch Office
Exemption for out-of-state collectors: Contact state authorities. Out-of-state agencies may qualify for lesser licensing fees. Out-of-state collectors are no longer required to have resident office and instate trust accounts if they don't have instate client. Bond is not required if held in home state.
|Sheri Ann Richerson|