STATE: FLORIDA

Interest Rate

• Legal: 11% or up to 18% maximum contractual rate if so agreed.
• Judgment: 11%

STATUTE OF LIMITATIONS (IN YEARS)

• Open Account: 4
• Written Contract: 5
• Domestic Judgment: 20 yr duration, if recorded acts as lien on non-homestead real property for 10 yrs; may be recorded for an additional 10 yrs. (Reflects current recording requirements)
• Foreign Judgment: Same duration as domestic if under F.S. 55.501 et seq.

BAD CHECK LAWS (CIVIL PENALTY)

Initially face value of check plus $25.00 – $40.00, depending upon amount of check, or %5 of value, whichever is greater. If suit is required, after 30 day demand, treble amount in addition to amount owed, bank & court costs & reasonable attorney fees.

GENERAL GARNISHMENT EXEMPTIONS

FL has opted out of federal bankruptcy exemptions. 100% head of household. Liberal Homestead Exemption – Life insurance proceeds and/or cash value of policy, disability income, pension monies and retirement funds are exempt.