Statute Of Limitations by State

[Trish]

NEW HAMPSHIRE

INTEREST RATE

Judgment: 7.6%

STATUTE OF LIMITATIONS (IN YEARS)

Open Acct.: 3

For Goods: 4

Written Contract: 3

For Goods: 4

Domestic Judgment: 20

Foreign Judgment: 20

BAD CHECK LAWS (CIVIL PENALTY)
Amount due, interest, court costs, reasonable costs of collection & $10 per day (max. $50)

GENERAL GARNISHMENT EXEMPTIONS
50 x fed. min. hourly wage - All future wages are exempt so that the court cannot issue an ongoing order.

COLLECTION AGENCY BOND & LICENSE

Bond: No

License: No

[Trish]

NEW JERSEY

INTEREST RATE

Legal: 6%

Judgment: No Statutory Provision

STATUTE OF LIMITATIONS (IN YEARS)

Open Acct.: 6

Sale of Goods: 4

Written Contract: 6

Domestic Judgment: 20

Foreign Judgment: 20

BAD CHECK LAWS (CIVIL PENALTY)
N/A

GENERAL GARNISHMENT EXEMPTIONS
$142.50 wk. min. 10% of gross earnings $142.50 & Over

COLLECTION AGENCY BOND & LICENSE

Bond: $5000 Surety

License: No

Fee: No

[Trish]

NEW MEXICO

INTEREST RATE

Judgment: 8.75% (in the absence of a written contract)

STATUTE OF LIMITATIONS (IN YEARS)

Open Acct.: 4

Written Contract: 6

Domestic Judgment: 14

Foreign Judgment: 14

BAD CHECK LAWS (CIVIL PENALTY)

Amount due, triple damages up to $500 per check.

Complex requirements need to be met.

GENERAL GARNISHMENT EXEMPTIONS
Greater of 75% or amount each wk. = to 40 x fed. min. hourly wage

COLLECTION AGENCY BOND & LICENSE

Bond: $5,000 minimum - based on volume

License: Yes


Exemption for out-of-state collectors: Out-of-state agency is exempt if [1] collecting by interstate means (phone, fax, mail); and [2] debt was incurred outside the state of New Mexico.

[Trish]

NEW YORK

INTEREST RATE

Legal: 16%

Judgment: 9%

STATUTE OF LIMITATIONS (IN YEARS)

Open Acct.: 6

Written Contract: 6

Domestic Judgment: 20 (1 0 yr. renewable lien)

Foreign Judgment: 20 (1 0 yr. renewable lien)

BAD CHECK LAWS (CIVIL PENALTY)
Face value of check plus two times check amount up to a maximum of $400 on NSF or $750 on "no account" (Demand prescribed by law). GEN.OB.1.1-104

GENERAL GARNISHMENT EXEMPTIONS
90% of earnings, except 1st $127.50 wk. wholly exempt.

COLLECTION AGENCY BOND & LICENSE

Bond: No

License: No


Buffalo: $5,000 Bond

NYC: License

[Trish]

NORTH CAROLINA

INTEREST RATE

Legal: 8%

Judgment: 8%

STATUTE OF LIMITATIONS (IN YEARS)

Open Acct.: 3

Sale of Goods: 4

Written Contract: 3

Domestic Judgment: 10

Foreign Judgment: 10

BAD CHECK LAWS (CIVIL PENALTY)
30 day written demand lesser of $500 or 3x check amount, but not less than $100.

GENERAL GARNISHMENT EXEMPTIONS
100% of last 60 days' earnings for family support. Garnishment only by political subdivisions for taxes, ambulance fees, etc.

COLLECTION AGENCY BOND & LICENSE

Bond: $5,000 to $50,000

License: Yes

Exemption for out-of-state collectors: Contact state authorities. Unofficially, licensing authorities may allow out-of-state agencies to bypass requirements if they do not solicit in state and/or work for in-state clients.

[Trish]

NORTH DAKOTA

INTEREST RATE

Legal: 6%

Judgment: 12%

STATUTE OF LIMITATIONS (IN YEARS)

Open Acct. for services: 6

Sale of Goods: 4

Written Contract: 6

Domestic Judgment: 10 renewable

Foreign Judgment: 10 renewable

BAD CHECK LAWS (CIVIL PENALTY)
Amount due, collection fees of $20, and $100 or 3x check whichever is less.

GENERAL GARNISHMENT EXEMPTIONS
Greater of 75% or amount each wk. = to 40 x fed. min. hourly wage. Plus $20.00 each household dependent.

COLLECTION AGENCY BOND & LICENSE

Bond: $20,000

License: Yes

Exemption for out-of-state collectors: Out-of-state collectors may be exempt if [1] collecting only; [2] their office is located in a state that has a reciprocal law; and [3] the state has "enacted similar legislation".

[Trish]

OHIO

INTEREST RATE

Legal: 10%

Judgment: 10%

STATUTE OF LIMITATIONS (IN YEARS)

Open Acct.: 6

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

Bond: No

License: No

[Trish]

OKLAHOMA

INTEREST RATE

Legal: 6%

Judgment: 4% over U.S. Treasury Bill Rate of previous year. (1996 = 9.55% 1997 = 9.15%)

STATUTE OF LIMITATIONS (IN YEARS)

Open Acct.: 3

Written Contract: 5

Domestic Judgment: 5 renewable

Foreign Judgment: 3

BAD CHECK LAWS (CIVIL PENALTY)
N/A

GENERAL GARNISHMENT EXEMPTIONS
State law: 75% of earnings exempted, more if hardship established. All federal exemptions apply.

COLLECTION AGENCY BOND & LICENSE

Bond: No

License: No

[Trish]

OREGON

INTEREST RATE

Statutory + Judgment: 9% simple interest per annum (Unless specified by contract)

STATUTE OF LIMITATIONS (IN YEARS)

Open Acct.: 6

Sale of Goods: 6 (4 yrs UCC Transaction)

Written Contract: 6

Domestic Judgment: 10 - Renewable at 10

Foreign Judgment: 10

BAD CHECK LAWS (CIVIL PENALTY)
Can recover reasonable attorney fees & statutory damages of three times the amount of the NSF check plus$500 if demand letter is sent to debtor 30 days before suit is filed.

GENERAL GARNISHMENT EXEMPTIONS
75% of disposable earnings or 40 x fed. min. hourly wage.

COLLECTION AGENCY BOND & LICENSE

Bond: No

License: Registration only


Exemption for out-of-state collectors: Contact state authorities. Out-of-state agencies may be exempt if [1] collecting for out-of-state client; [2] the debt was incurred by an Oregonian outside the state; and [3] the state where the collection agency is headquartered has a registration program comparable to Oregon's law.

[Trish]

PENNSYLVANIA

INTEREST RATE

Legal: 6%

Judgment: 6%

STATUTE OF LIMITATIONS (IN YEARS)

Open Acct.: 4

Written Contract: 4

Domestic Judgment: 5 (writ of revival within 5 yrs.)

Foreign Judgment: 4

-Lien against real estate: 5 yrs.

-Personal property Ex: 20 yrs.

BAD CHECK LAWS (CIVIL PENALTY)
After demand and judgment triple damages in amount equal to $1 00 or 3 times the check amount whichever is greater up to $500.

GENERAL GARNISHMENT EXEMPTIONS
100%of wages, certain pensions, retirement accounts & Keogh plan under certain circumstances, and $300.

COLLECTION AGENCY BOND & LICENSE

Bond: No

License: No