Oklahoma Debt Collection Laws and Statutes

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Oklahoma Debt Collection Laws and Statutes

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

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

STATE: OKLAHOMA

Interest Rate

  • Legal: 6%
  • Judgment: 10.25% for 2007 (Rate changes on January 1st of each year and is two percentage points above the prime interest rate quoted in the Wall Street Jornal on the first business day of the year).

STATUTE OF LIMITATIONS (IN YEARS)

  • Sale of Goods Governed by UCC: 5
  • Open Account: 3
  • Written Contract: 5
  • Domestic Judgment: 5 renewable
  • Foreign Judgment: 5 renewable

BAD CHECK LAWS (CIVIL PENALTY)

N/A

GENERAL GARNISHMENT EXEMPTIONS

State law: 75% of earnings exempted, more if hardship established. All federal exemptions apply.