Bond: No
License: Registration only
Fee: Established by director
Exemption for out-of-state collectors: Contact state authorities. Out-of-state agencies may be exempt if [1] collecting for out-of-state client; [2] the debt was incurred by an Oregonian outside the state; and [3] the state where the collection agency is headquartered has a registration program comparable to Oregon's law.
'Oregon Collection Agency Laws' Questions?
12. New Jersey Collection Agency Laws
Following is some important information on New Jersey debt collection laws including: New Jersey Statutes, New Jersey Judgments, New Jersey Garnishments, New Jersey Interest Rates, New Jersey Bad Check Laws and New Jersey Collection Agency Requirements.
INTEREST RATE
Legal: 6%
Judgment: No Statutory Provision
STATUTE OF LIMITATIONS (IN YEARS)
Open Acct.: 6
Sale of Goods: 4
Written Contract: 6
Domestic Judgment: 20
Foreign Judgment: 20
BAD CHECK LAWS (CIVIL PENALTY)
N/A
GENERAL GARNISHMENT EXEMPTIONS
$142.50 wk. min. 10% of gross earnings $142.50 & Over
COLLECTION AGENCY BOND & LICENSE
Bond: $5000 Surety
License: No
Fee: No
'New Jersey Collection Agency Laws' Questions?
13. Illinois Collection Agency Laws
Following is some important information on Illinois debt recovery laws including: Illinois Statutes, Illinois Judgments, Illinois Garnishments, Illinois Interest Rates, Illinois Bad Check Laws and Illinois Collection Agency Requirements.
INTEREST RATE
Legal: 5%
Judgment: 9%
STATUTE OF LIMITATIONS (IN YEARS)
Sales (UCC): 4
Open Acct.: 5
Written Contract: 10
Domestic Judgment: 20
Foreign Judgment: Same as foreign jurisdiction
BAD CHECK LAWS (CIVIL PENALTY) Triple check amount up to $500, attorney fees & court costs.
GENERAL GARNISHMENT EXEMPTIONS
15% of gross wages or disposable earnings for workweek up to 45 x fed. min. hourly wage, whichever is greater.
COLLECTION AGENCY BOND & LICENSE
Bond: $25,000
License: Yes
Fee:
$750 - Original
$750 - Renewal
Exemption for out-of-state collectors: Out-of-state collectors may be exempt if [1] not soliciting accounts in Illinois; [2] their state of residence has laws which provide similar reciprocity (allow out-of-state agencies to collect only); and [3] the state in which the non-Illinois agency resides extends the same privileges to out-of-state agencies.
