Illinois Debt Collection Laws and Statutes

AccountsReceivable.com handles debt collections throughout the entire state of Illinois.

Below you will find important information on Illinois state debt recovery laws including: Illinois Statutes, Judgments, Garnishments, Interest Rates, and Bad Check Laws.

STATE: ILLINOIS

Interest Rate

  • Legal: 5%
  • Judgment: 9%

STATUTE OF LIMITATIONS (IN YEARS)

  • Sales (UCC): 4
  • Construction Cases: 4
  • Open Account: 5
  • Written Contract: 10
  • Domestic Judgment: 20
  • Foreign Judgment: Same as foregin jurisdiction

BAD CHECK LAWS (CIVIL PENALTY)

Triple check amount up to $500, attorney fees & court costs.

GENERAL GARNISHMENT EXEMPTIONS

15% of gross wages or disposable earings for workweek up to 45 x fed. min. hourly wage, whichever is greater.

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