INTEREST RATE

• Legal: 2% Over Prime
• Judgment: 2% Over Prime

STATUTE OF LIMITATIONS (IN YEARS)

• Open Acct.: 4
• Written Contract: 6
• Lease: 4
• Domestic Judgment: 6
• Foreign Judgment: 6

BAD CHECK LAWS (CIVIL PENALTY)
Amount due, protest fees three times check amount not more than $500, or less than $100

GENERAL GARNISHMENT EXEMPTIONS
Garnish only. 25% of Disposable earnings for each week or 30 times federal minimum hourly wage (whichever is less)

COLLECTION AGENCY BOND & LICENSE

• Bond: $25,000 to $50,000
• License: Yes
• Fee:
  • $250 - App. Survey
  • $300 - Original
  • $200 - Renewal
• Exemption for out-of-state collectors: Out-of-state collectors are exempt if [1] collecting by interstate means (phone, fax, mail); and [2] collecting for an out-of-state client.