Florida Debt Collection Laws and Statutes

Florida Debt Collection Laws and Statutes

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

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

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.

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