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.
