New York Debt Collection Laws and Statutes

AccountsReceivable.com handles debt collections throughout the entire state of New York.

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

STATE: NEW YORK

Interest Rate

  • Legal: 16%
  • Judgment: 9%

STATUTE OF LIMITATIONS (IN YEARS)

  • Open Account: 6
  • Sale of Goods: 4
  • Written Contract: 6
  • Domestic Judgment: 20 (10 year renewable lien)
  • Foreign Judgment: 20 (10 year renewable lien)

BAD CHECK LAWS (CIVIL PENALTY)

Face value of check plus two time scheck 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 $154.50 week wholly exempt (only if the person earns minimum wage).

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