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.

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