10. Florida Collection Agency Laws
Following is some important information on Florida debt recovery laws including: Florida Statutes, Florida Judgments, Florida Garnishments, Florida Interest Rates, Florida Bad Check Laws and Florida Collection Agency Requirements.
INTEREST RATE
Legal: 10%
Judgment: 10% or up to 18% if contractual
STATUTE OF LIMITATIONS (IN YEARS)
Open Acct.: 4
Written Contract: 5
Domestic Judgment: 7 Renewable
Foreign Judgment: 5 if not recorded instate
BAD CHECK LAWS (CIVIL PENALTY)
After 30 day demand-treble amount in addition to amount owed, bank & court costs & reasonable attorney fees.
GENERAL GARNISHMENT EXEMPTIONS
See federal law except 100% head of household.
Liberal Homestead Exemption - 1st $1,000 of automobile
COLLECTION AGENCY BOND & LICENSE
Bond: Yes - $50,000 (Commercial)
License: Yes
Fee: Yes
$200 - Registration
$50 - Investigation
$200 - Renewal
Exemption for out-of-state collectors: Registration is required for out-of-state collectors if [1] soliciting accounts; [2] if client (creditor, its affiliate or subsidiary) has an office in Florida.
'Florida Collection Agency Laws' Questions?
11. Oregon Collection Agency Laws
Following is some important information on Oregon state debt collection laws including: Oregon Statutes, Oregon Judgments, Oregon Garnishments, Oregon Interest Rates, Oregon Bad Check Laws and Oregon Collection Agency Requirements.
INTEREST RATE
Statutory + Judgment: 9% simple interest per annum (Unless specified by contract)
STATUTE OF LIMITATIONS (IN YEARS)
Open Acct.: 6
Sale of Goods: 6 (4 yrs UCC Transaction)
Written Contract: 6
Domestic Judgment: 10 - Renewable at 10
Foreign Judgment: 10
BAD CHECK LAWS (CIVIL PENALTY)
Can recover reasonable attorney fees & statutory damages of three times the amount of the NSF check plus$500 if demand letter is sent to debtor 30 days before suit is filed.
GENERAL GARNISHMENT EXEMPTIONS
75% of disposable earnings or 40 x fed. min. hourly wage.
