New York Debt Collection Laws and Statutes

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).

New Mexico Debt Collection Laws and Statutes

New Mexico Debt Collection Laws and Statutes

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

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

STATE: NEW MEXICO

Interest Rate

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

STATUTE OF LIMITATIONS (IN YEARS)

  • Open Account: 4
  • Written Contract: 6
  • Auto Deficiency: 4
  • 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 week = to 40 x fed. min. hourly wage.

New Jersey Debt Collection Laws and Statutes

New Jersey Debt Collection Laws and Statutes

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

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

STATE: NEW JERSEY

Interest Rate

  • Legal: up to 30% – as provided for by contract
  • Judgment: Changes yearly. In 2007 – 4% on judgments up to %15,000. On judgments in excess of $15,000, an additional 2% is added to the interest rate.

STATUTE OF LIMITATIONS (IN YEARS)

  • Open Account: 6
  • Sale of Goods: 4
  • Written Contract: 6
  • Domestic Judgment: 20
  • Foreign Judgment: 20
  • Auto Deficiency: 4

BAD CHECK LAWS (CIVIL PENALTY)

Face amount of the check plus 3x the face value of the check, with the civil penalty not to exceed $500.

GENERAL GARNISHMENT EXEMPTIONS

$154.50 week min. 10% of gross earnings $154.50 & over.

New Hampshire Debt Collection Laws and Statutes

New Hampshire Debt Collection Laws and Statutes

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

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

STATE: NEW HAMPSHIRE

Interest Rate

  • Judgment: 2007 – 6.8% (changes every year on the 1st of January)

STATUTE OF LIMITATIONS (IN YEARS)

  • Open Account: 3
  • For Goods: 4
  • Written Contract: 3
  • Domestic Judgment: 20
  • Foreign Judgment: 20

BAD CHECK LAWS (CIVIL PENALTY)

Amount due, interest, court costs, reasonable attorney’s fees & $10 per business day (max. $500). If statutory notice is sent. (RSA 544-B)

GENERAL GARNISHMENT EXEMPTIONS

50 x fed. min. hourly wage. All future wage are exempt so that the court cannot issue an onging order.

Nevada Debt Collection Laws and Statutes

Nevada Debt Collection Laws and Statutes

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

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

STATE: NEVADA

Interest Rate

  • Contract rate always prevails. If no contract then Nevada statutory rate applies.
  • Pre-Judgment: Satutory rate = 2% Over Prime as determined by 3 medium reserve banks in the western states every 6 months.
  • Judgment: Same as pre-judgment

STATUTE OF LIMITATIONS (IN YEARS)

  • Open Account: 4
  • Written Contract: 6
  • Lease: 6
  • 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

Wages no more than 25% of Disposable earnings for each week or 50 times federal minimum hourly wage (whichever is less) except for support orders.

Nebraska Debt Collection Laws and Statutes

Nebraska Debt Collection Laws and Statutes

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

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

STATE: NEBRASKA

Interest Rate

  • Legal: 12%
  • Judgment: 2% above the bond investment yield of the 28 week U.S. Treasury Bill

STATUTE OF LIMITATIONS (IN YEARS)

  • Open Account: 4
  • Written Contract: 5
  • Domestic Judgment: 5 renewable every 5
  • Foreign Judgment: 5 non-renewable

BAD CHECK LAWS (CIVIL PENALTY)

Amount due, costs, protest fees.

GENERAL GARNISHMENT EXEMPTIONS

Greater 75% disposable earnings (85% if head of household), or 30x fed. min. hourly wage.

Montana Debt Collection Laws and Statutes

Montana Debt Collection Laws and Statutes

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

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

STATE: MONTANA

Interest Rate

  • Legal: 10%
  • Judgment: 10%
  • A binding written agreement may provide for interest of 15% or 6% above prime

STATUTE OF LIMITATIONS (IN YEARS)

  • Tort Claim (Subrogation) Prop & Personal: 3
  • Open Account: 5
  • Written Contract: 8
  • Domestic Judgment: 10
  • Justice of Peace Judgment: 10

BAD CHECK LAWS (CIVIL PENALTY)

$100 minimum or 3 times fave value up to $500 plus face value of check and under UCC the value of the check plus $30 service charge per check.

GENERAL GARNISHMENT EXEMPTIONS

See federal law. State law provides for executions.

Missouri Debt Collection Laws and Statutes

Missouri Debt Collection Laws and Statutes

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

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

STATE: MISSOURI

Interest Rate

  • Legal: 9%
  • Judgment: 9%

STATUTE OF LIMITATIONS (IN YEARS)

  • Sale of Goods: 4
  • Open Account: 5
  • Written Contract: 10
  • Sales (UCC) Contract: 4
  • Money & Property:
  • Domestic Judgment: 10 (revived every 10 years)
  • Foreign Judgment: 10 (revived every 10 years)

BAD CHECK LAWS (CIVIL PENALTY)

Three times face amount owed plus attorney’s fees.

GENERAL GARNISHMENT EXEMPTIONS

See federal law; exempt 90% of week’s pay, head of household, single person w/o dependable = 75%.

Mississippi Debt Collection Laws and Statutes

Mississippi Debt Collection Laws and Statutes

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

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

STATE: MISSISSIPPI

Interest Rate

  • Legal: 8%
  • Judgment: amount is contract, if no contract amount – court decides.

STATUTE OF LIMITATIONS (IN YEARS)

  • Open Account: 3
  • Written Contract: 3
  • Sales (UCC) Contract: 6
  • Domestic Judgment: 7
  • Foreign Judgment: 7 (3 if resident)
  • Deficiency Suit: 1 year from date of sale

BAD CHECK LAWS (CIVIL PENALTY)

On checks up to and including $25.00, additional damages would be 100% of check amount. On checks from $25.01 to $200.00, additional damages would be 50% of check amount but not less that $25.00. On checks over $200.00, additional damages would be 25% of check amount.

GENERAL GARNISHMENT EXEMPTIONS

See federal law. State Law: 30 days wages after service of process.

Minnesota Debt Collection Laws and Statutes

Minnesota Debt Collection Laws and Statutes

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

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

STATE: MINNESOTA

Interest Rate

  • Legal: 6%
  • Judgment: 5% for 2007 changes anually
  • Business or Agricultural Loan: 4.5% over federal discount rate

STATUTE OF LIMITATIONS (IN YEARS)

  • Goods Sold & Delivered (UCC): 4
  • Contract for Sale: 4
  • Lease Contract: 4
  • Note Payable: 6
  • Open Account: 6
  • Written Contract: 6
  • Transportation Service: 3
  • Domestic Judgment: 10
  • Foreign Judgment: 10

BAD CHECK LAWS (CIVIL PENALTY)

$100 or up to 100% of the value of the check, whichever is greater, plus interest at the rate payable on judgments on the face amount of check, plus reasonable attorney fees if aggregate amount of checks within 6 month period os over $1250.

GENERAL GARNISHMENT EXEMPTIONS

Greater of 75% or amount = to 40 x fed. min. hourly wage.