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Collection laws for all states in one page


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  • 7 months later...
I don't see Virginia on there, will share if I come across anything:)

STATE: VIRGINIA

INTEREST RATE

Legal: 8%

Judgment: 9% or contract rate whichever is higher

STATUTE OF LIMITATIONS (IN YEARS)

Open Acct.: 3 Last charge or payment Written Contract: 5

Domestic Judgment: 20

Foreign Judgment: 10

Sales of goods under article 2 is 4 years

BAD CHECK LAWS (CIVIL PENALTY)

Lesser of $250 or three times check amount

GENERAL GARNISHMENT EXEMPTIONS

See federal law

COLLECTION AGENCY BOND & LICENSE

Bond:$5000

License: Depends on Locality

Fee: No

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no Kansas 8-)

STATE: KANSAS

INTEREST RATE

Legal: 10%

Judgment: 12%

STATUTE OF LIMITATIONS (IN YEARS)

Open Acct.: 3

Written Contract: 5

Domestic Judgment: 5 renewable

Foreign Judgment: 5 renewable

BAD CHECK LAWS (CIVIL PENALTY)

Three times check amount not exceeding the check amount by $500 or $100 whichever is greater plus attorney fees

GENERAL GARNISHMENT EXEMPTIONS

See Federal Law

Plus other personal property, benefit exemptions, and homestead

COLLECTION AGENCY BOND & LICENSE

Bond: No

License: No

Fee: No

8)

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No KY :?

STATE: KENTUCKY

INTEREST RATE

Legal: 8%

Judgment: 12%

STATUTE OF LIMITATIONS (IN YEARS)

Open Acct.: 5

Written Contract: 15

Oral Contract: 5

Domestic Judgment: 15

Foreign Judgment: 15

BAD CHECK LAWS (CIVIL PENALTY)

N/A

GENERAL GARNISHMENT EXEMPTIONS

75% of disposable income or 30 times the federal minimum hourly wage (whichever is greater)

COLLECTION AGENCY BOND & LICENSE

Bond: No

License: No

Fee: No

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Except no South Carolina or South Dakota! sad-smiley-066.gif

STATE: SOUTH CAROLINA

INTEREST RATE

Legal: 8.75%

Judgment: 12%

STATUTE OF LIMITATIONS (IN YEARS)

Open Acct.: 3

Written Contract: 3

Domestic Judgment: 10

Foreign Judgment: 10

BAD CHECK LAWS (CIVIL PENALTY)

Reasonable court costs amount of check& damages up to $500 or 3x check amount whichever is smaller

GENERAL GARNISHMENT EXEMPTIONS

100%

COLLECTION AGENCY BOND & LICENSE

Bond: No

License: Yes - all business

Fee: No

Exemption for out-of-state collectors: License required for instate agency only.

STATE: SOUTH DAKOTA

INTEREST RATE

Legal: 12%

Judgment: 10%

STATUTE OF LIMITATIONS (IN YEARS)

Open Acct.: 6

Sale of Goods: 4

Written Contract: 6

Domestic Judgment: 20

Foreign Judgment: 10

BAD CHECK LAWS (CIVIL PENALTY)

N/A

GENERAL GARNISHMENT EXEMPTIONS

20% of the individuals disposable earnings for a 60 day period

COLLECTION AGENCY BOND & LICENSE

Bond: No

License: No

Fee: No

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