AL
75%
of wages are exempt from garnishment Greater of $10 or Actual Bank Charges (Section 7-3-118) Legal: 6%Judgment: 12% Bond:
No
License: Yes
Fee:
$25 - Population under 20,000
$100 - Population over 20,000
Exemption
for out-of-state collectors: Business License not required for out-of-state agency.
AR
$500
head of family; $200 single.
Includes personal property except clothing.
Twice amount of check - prior to double
charge - can start out with $15 charge per NSF check after 30 days. Legal: 6% or 5 points above the Fed. Discount rate
Judgment: Contract rate or 10% per annum whichever is greater Bond: $5000 to $25000
License: Yes
Fee: $125 -
$5 each employee
AK
Federal Garnishment Returns* Damages
in amount equal to $100 or triple the amount of the check, whichever is greater, but no more than $1000 over the amount of
the check. Legal: 10.5%
Judgment: 10.5% or contractual Bond: $5000 License: Yes
Fee:
$100 - Application
$200 - Agency Biennially
AZ
Federal Garnishment
Returns* Twice the amount of check, costs of suit, reasonable attorney fees. Legal: 10%
Judgment: 10% or contractual
Bond: $10,000 minimum (based on gross income)
License: Yes
Fee:
$1500 Application Fee
$600 Annual
Fee
$23 per Officers/Managers
CA
Federal Garnishment
Returns* Amount due, Treble damages - minimum $100 maximum $1500 per check Legal: 10%
Judgment: 10% (Unless otherwise
contracted) No license or bond required.
CO
Federal
Garnishment Returns*
Fees Bounced Check 3 years SOL UCC 4-3-11. Treble Damages & Reasonable Legal: 8% Judgment:8%
(or higher if specified in contract or note)
Bond: $12,000 - 20,000
License: Yes
Fee: Determined by collection
agency board
Exemption for out-of-state collectors: Out of state collectors are exempt if [1] collecting only by interstate
means (phone, fax, mail); [2] have no Colorado client; and [3] are regulated and licensed in the state in which they reside.
CT
25% you may garnish disposable earnings each week,
or 40 x fed. min. hourly wage, whichever is less. Personal liability of signatory on corporate claims unless signed in corporate
capacity.
Legal:8% Judgment:10%
Bond:$5000
License: Yes
Fee:
$200 Yearly
$50 Investigation
DE
85% of disposable earnings or disposable earnings
minus $150 weekly according to schedule.
Amount due, cost of suit, protest fees
Bounced Check SOL § 3-118.
3 Years Legal: Fed Reserve Discount Rate Plus 5% Points
Judgment: Fed Reserve Discount Rate Plus 5% Points
Bond: No
License: Merc. License
Fee: $50 Yearly
DC
Federal Garnishment Returns* D.C. Government employees are not attachable.
Amount Due - Protest Fees Legal:
6%
Judgment: 70% of interest rates on taxes to IRS Bond: No
License: No
Fee: No
FL
See federal law* except 100% head of household. Liberal Homestead Exemption - 1st
$1,000 of automobile
After 30 day demand-treble amount in addition to amount owed, bank & court costs & reasonable
attorney fees. Legal: 10%
Judgment: 10% or up to 18% if contractual 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.
GA
Legal: 7%
Judgment: 12%
Commercial Accounts: 18%
After 10 day written
demand double damages up to $500 and service charge of $20 or 5%, whichever is greater, See federal law. City, County &
State employees may be garnished. Bond: No
License: No
Fee: No
HI
Legal: 10%
Judgment: 10% (No Written Contract) Damages equal to $100 or triple
amount of check, not to exceed $500. General garnishment exemptions
95% of 1st $100, 90% of 2nd $100, 80% net wages
in excess of $200 per mo. Or federal limits whichever is greater. Collection agency bond & licenses
Bond: $25,000
/ $15,000 each branch
License or registration: Required to solicit/collect
ID
Legal:
12%
Judgment: 10.875% plus the base rate
Triple amount of check up to $500 over the check amount See federal
law. Bond: $5,000 initial
License: Yes
Fee: $100 -permit fee $50 - renewal
Exemption for out-of-state
collectors: Out-of-state collectors may qualify for a special license if [1] only collecting for client; and [2] are licensed
and bonded by any state
IA
Legal: 5%
Judgment: 10%
Triple check up to $500 over check amount See federal law. Bond: No
License: No
Fee:
No
IL
INTEREST RATE
Legal: 5%
Judgment: 9%
Triple check amount up to $500, attorney fees & court costs. 15% of gross wages or disposable earnings for workweek
up to 45 x fed. min. hourly wage, whichever is greater. 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.
IN
Legal: 8%
Judgment:
8% Triple check amount up to $500 over check amount, + attorney fees & interest up to 18% per annum or triple check amount
+ attorney fees and interest at 8% per annum 75% of disposable earnings for work week or the amount of 30 x fed. min. hourly
wage, whichever is greater. Bond: $5000 each office
License: Yes
Fee:
$100 plus $5 per annum, each unlicenced
employee
$30 branch office
$80 - Renewal
Exemption for out-of-state collectors: Out-of-state collectors
are exempt from licensing if
[1] collecting for a non-resident creditor; and
[2] collection activities limited
to interstate communications (phone, fax, mail).
KS
Legal:
10%
Judgment: 12%
Three times check amount not exceeding the check amount by $500 or $100 whichever
is greater plus attorney fees See Federal Law
Plus other personal property, benefit exemptions, and homestead Bond:
No
License: No
Fee: No
KY
Legal: 8%
Judgment: 12%
N/A 75% of disposable income or 30 times the federal minimum hourly wage (whichever
is greater) Bond: No
License: No
Fee: No
LA
Legal:
9.75%
Judgment: 9.75%
After 30 day written demand (certified or registered), twice check amount.
Attorney fees & court costs 75% disposable earnings per work week, but not less than 30 x fed. min. hourly wage. Bond:
Yes - $10,000
License: Yes
Fee:
$200 Initial
$200 Investigation
$200 Renewal
$100
Branch
$100 Branch Renewal
ME
Legal: 8%
Post
Judgment: 15% annual (less than $30,000) T-Bill rate over $30,000
Amount due, court costs, service costs
& collection costs You may garnish 25% of disposable income or 40 times the federal minimum wages per week (whichever
is less) After judgement only. Bond: $25,000 to $50,000
License: Yes
Fee: $400 Yearly
Exemption for out-of-state
collectors: Contact state authority. Licensing authority is allowing some exemptions to out-of-state agencies that collect
for non-resident creditors and are not soliciting.
MD
Legal:
6%
Judgment: 10% or contractual
After 30 day written notice, amount due,
$25 fee, twice check amount up
to $1000. (At the discretion of the court.) Applies to COD sales only. Greater of 75% or amount = to $145 x no. of wks. in
which wages due were earned; except in Caroline, Worchester, Kent & Queen Anne's Counties, see federal law. Exemption
is up to $3,000 in cash and/or property for non-wage property exemption. Bond: $5000
License: Yes
Fee: $200
each office
MA
Legal: 6%
Judgment: 12%
Contract:
12%
Amount due, costs of suit, protest fees
Additional damages $100 - $500 can be assessed. $125
week Bond: $10,000 - $25,000
License: Yes
Fee: Determined by commissioner
MI
Legal: 5%
Judgment: 7.162 changes semi-annually
Usury limit 25%
Twice
the amount of check-not to exceed $500.
Retail Claims - Notice Requirements. See federal law. (RETAIL ONLY)
Bond:
$5,000 - $50,000
License: Yes
Fee:
$150 - Investigation
$225 - Initial
$125 - Annually
Exemption
for out-of-state collectors: Out-of-state collector are exempt if [1] collecting by interstate means; and [2] have no clients
in the state of Michigan.
MN
Legal: 6%
Judgment:
5% (Changes Yearly)
Business or Agricultural Loan: 4.5% over federal discount rate
$100 or up to 100% of the
value of the check, whichever is greater, plus interest at the rate payable on judgments on the face amount of check, plus
reasonable attorney fees if aggregate amount of checks within 6 month period is over $1250.
Greater of 75% or amount
= to 40 x fed. min. hourly wage
Bond: $5,000 to $20,000
License: Yes
Fee:
$1,000 - Initial
$400
- Annual
$10 - Per Collector
MS
Legal: 8%
Judgment:
Amount in contract if no contract amount court decides
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 than $25.00. On checks over $200.00 additional damages would be 25% of check amount. See federal
law. Bond: No
License: City-Business
Fee: $15-$50
MO
Legal:
9%
Judgment: 9%
Three times face amount owed or $100 whichever is greater not to exceed $500 (exclusive
of attorney fees) See federal law; exempt 90% of week's net pay, head of household, single person w/o depend. = 75% Bond:
No
License: No
Fee: No
MT
Legal: 10%
Judgment: 10%
A binding written agreement may provide for interest of 15% or 6% above prime
$100
minimum or 3 times face value up to $500 See federal law. Bond: No
License: No
Fee: No
Caveats:
Foreign
corporations should register with MT Sec. of State prior to any suit in MT Courts or risk dismissal.
Attorney fees only
if provided by a signed written agreement.
NC
Legal:
8%
Judgment: 8%
30 day written demand lesser of $500 or 3x check amount, but not less than $100.
100% of last 60 days' earnings for family support. Garnishment only by political subdivisions for taxes, ambulance fees,
etc. Bond: $5,000 to $50,000
License: Yes
Fee: $500
Exemption for out-of-state collectors: Contact state
authorities. Unofficially, licensing authorities may allow out-of-state agencies to bypass requirements if they do not solicit
in state and/or work for in-state clients.
ND
Legal:
6%
Judgment: 12%
Amount due, collection fees of $20, and $100 or 3x check whichever is less. Greater of 75% or
amount each wk. = to 40 x fed. min. hourly wage. Plus $20.00 each household dependent. Bond: $20,000
License: Yes
Fee:
$200
Exemption for out-of-state collectors: Out-of-state collectors may be exempt if [1] collecting only; [2] their
office is located in a state that has a reciprocal law; and [3] the state has "enacted similar legislation".
NE
Legal: 12% per written instrument or contract rate
Judgment:
1% above bond equivalent yield as published by U.S. Treasury
Amount due, costs, protest fees Greater of 75% disposable
earnings (85% if head of household), or 30 x fed. minimum hourly wage. Bond: Based on Lic. Solic. Less Than 5 = 5,000, 5-15=$10,000,
16-Up=$15,000
License: Yes
Fee: (not to exceed)
$250 - Investigation
$200 - Original
$100
- Renewal
$50 - Investigation Branch Office
$35 - Original Branch Office
Exemption for out-of-state collectors:
Out-of-state collectors are exempt if [1] communicating by interstate means (phone, fax, mail); and [2] are "regulated"
by the laws of another state.
NH
Judgment: 7.6%
Amount
due, interest, court costs, reasonable costs of collection & $10 per day (max. $50)
50 x fed. min. hourly wage
- All future wages are exempt so that the court cannot issue an ongoing order. Bond: No
License: No
Fee: No
NJ
Legal: 6%
Judgment: No Statutory Provision
N/A
$142.50 wk. min. 10% of gross earnings $142.50 & Over Bond: $5000 Surety
License: No
Fee: No
NM
Judgment: 8.75% (in the absence of a written contract)
Amount
due, triple damages up to $500 per check. Complex requirements need to be met. Greater of 75% or amount each wk. = to 40 x
fed. min. hourly wage Bond: $5,000 minimum - based on volume
License: Yes
Fee:
$500 - original collection
agency or branch
$300 - renewal collection agency or branch
$100 - examination fee for manager's license
$50 - manager renewal
Exemption for out-of-state collectors: Out-of-state agency is exempt if [1] collecting
by interstate means (phone, fax, mail); and [2] debt was incurred outside the state of New Mexico.
NV
Legal: 2% Over Prime
Judgment: 2% Over Prime
Amount due,
protest fees three times check amount not more than $500, or less than $100 Garnish only. 25% of Disposable earnings for each
week or 30 times federal minimum hourly wage (whichever is less) Bond: $25,000 to $50,000
License: Yes
Fee:
$250 - App. Survey
$300 - Original
$200 - Renewal
Exemption for out-of-state collectors: Out-of-state
collectors are exempt if [1] collecting by interstate means (phone, fax, mail); and [2] collecting for an out-of-state client.
NY
INTEREST RATE
Legal: 16%
Judgment: 9%
Face
value of check plus two times check amount up to a maximum of $400 on NSF or $750 on "no account" (Demand prescribed
by law). GEN.OB.1.1-104 90% of earnings, except 1st $127.50 wk. wholly exempt. Bond: No
License: No
Fee: No
Buffalo: $5,000 Bond - $50 fee
NYC: License - $150 - 2 yr. fee
OH
Legal: 10%
Judgment: 10%
The greater of $200 or three times the amount of check and
attorney fees (no maximum) See federal law. Garnishment limited to once a month per employee. Bond: No
License: No
Fee: No
OK
Legal: 6%
Judgment: 4% over
U.S. Treasury Bill Rate of previous year. (1996 = 9.55% 1997 = 9.15%) N/A State law: 75% of earnings exempted, more if hardship
established. All federal exemptions apply. Bond: No
License: No
Fee: No
OR
Statutory + Judgment: 9% simple interest per annum (Unless specified by contract)
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. 75% of disposable earnings or 40 x fed. min. hourly wage. 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.
PA
Legal: 6%
Judgment: 6%
After
demand and judgment triple damages in amount equal to $1 00 or 3 times the check amount whichever is greater up to $500. 100%of
wages, certain pensions, retirement accounts & Keogh plan under certain circumstances, and $300.
Bond: No
License:
No
Fee: No
RI
Legal: 12%
Judgment: 12%
Amount
of check, $25 fee & treble damage up to $1000 See federal law. Bond: No
License: No
Fee: No
SC
Legal: 8.75%
Judgment: 14%
Reasonable court costs
amount of check& damages up to $500 or 3x check amount whichever is smaller 100% Bond: No
License: Yes - all business
Fee: No
Exemption for out-of-state collectors: License required for in-state agency only.
SD
Legal: 12%
Judgment: 10%
N/A 20% of the individuals disposable
earnings for a 60 day period Bond: No
License: No
Fee: No
TN
Legal:
10%
Judgment: 10% (or contract rate) (varies with type of transaction)
Treble damages up to $500 + 10% interest
& reasonable service charges, atty's fees, & court costs.
See federal law. Add $2.50 per wk. for dependent
child under 16.
Bond:
$15,000 1-4 employee
$20,000 5-9 employee
$25,000 10 or more
License:
Yes
Fee:
$600 - Original
$350 - Renewal
$25 - Each Solicitor
Exemption for out-of-state
collectors: Contact state licensing authority. Out-of-state agencies may be exempt if they [1] maintain office in another
state; [2] resides in a state that provides reciprocity; and [3] comply with provisions of licensing.
TX
Legal: 6% with agreement can charge up to 18%. w/o agreement - statutory interest
of 6% begins to run 30th day after becoming due
Judgment: 10% N/A
100% of Wages
Bond: Yes
License:
No
Fee: No
Always consult counsel to charge interest - Texas has very onerous usury laws & penalties.
UT
Legal: 7.35%
Judgment: Contract rate or Federal Judgment
Rate
Certified statutory bad check notice must be sent. Amount due, interest, court costs, reasonable attorney's
fees, plus $15 bad check fee. $142.50 of disposable earnings for wages paid weekly. Bond: $10,000
License: Yes
Fee:
Varies by City and County.
VA
Legal: 8%
Judgment:
9% or contract rate whichever is higher
Lesser of $250 or three times check amount See federal law. Bond:$5000
License:
Depends on Locality
Fee: No
VT
Legal: 12%
Judgment:
12%
Court costs, amount of check, attorney’s fees, damage of $50. (Notices required) 75% of earning above minimum
wage or what is necessary to live. Bond: No
License: No
Fee: No
WA
Legal:
12%
Judgment: 12%
Lesser of check amount or 12% interest, collection costs up to $40. If taken to
court, reasonable attorney's fees, 3 x value, or up to $300. Now have 6 years to enforce a bad check. Greater of 75% or
$64 wk. (40 x state min. hourly wage).
Bond: $6000 general, $4000 specialty
License: Yes
Fee:
$100
- Investigation
$100 - Original
$100 - Renewable
$50 - Branch Office
Exemption for out-of-state
collectors: Contact state authorities. Out-of-state agencies may qualify for lesser licensing fees. Out-of-state collectors
are no longer required to have resident office and in-state trust accounts if they don't have in-state client. Bond is
not required if held in home state.
WV
Legal: 6%
Judgment:
10%
Amount due, service charge up to $10. If check is under $500.00 = misdemeanor. Over $500.00 = felony. See West Va
code 38-5A-3-Employees withhold 20% of disposable income or 30x the minimum hourly rate, whichever is less. Other exemptions
apply. COLLECTION AGENCY BOND & LICENSE
Bond: $5,000
License: Yes - Franchise Reg. Cert.
Fee: $15
Annual
Exemption for out-of-state collectors: Contact state authorities. Some out-of-state agencies may be exempt if
they are only collecting for out-of-state clients.
WI
Legal:
5%
Judgment: 12%
Amount of check plus actual damages + exemplary damages up to three times value
of check. Limited to $300. 80% of net pay. Bond: $15,000 min.
License: Yes
Fee:
$1000 - Investigation
$200 - Annual
Exemption for out-of-state collectors: Out-of-state agencies do not need to be licensed if [1]
collecting by interstate means (phone, fax, mail); and [2] collecting for an out-of-state client.
WY
Legal: 7%
Judgment: contract rate or 10% judgment rate
Double
the face amount plus damages equal to collection cost and reasonable attorney fees. See federal law for consumer credit sale,
lease or loan. Up to 65% for child support arrearage. Bond: $10,000
License: Yes
Fee:
$200 - Original
$100 - Renewal
$100 - Branch
Exemption for out-of-state collectors: Out-of-state agencies may bypass licensing
if they are not [1] soliciting clients in Wyoming; or [2] collecting for Wyoming creditors.
Judgment: 12%
Bond: No
License: Yes
Fee:
$25 - Population under 20,000
$100 - Population over 20,000
Exemption
for out-of-state collectors: Business License not required for out-of-state agency.
AR
$500
head of family; $200 single.
Includes personal property except clothing.
Twice amount of check - prior to double
charge - can start out with $15 charge per NSF check after 30 days. Legal: 6% or 5 points above the Fed. Discount rate
Judgment: Contract rate or 10% per annum whichever is greater Bond: $5000 to $25000
License: Yes
Fee: $125 -
$5 each employee
AK
Federal Garnishment Returns* Damages
in amount equal to $100 or triple the amount of the check, whichever is greater, but no more than $1000 over the amount of
the check. Legal: 10.5%
Judgment: 10.5% or contractual Bond: $5000 License: Yes
Fee:
$100 - Application
$200 - Agency Biennially
AZ
Federal Garnishment
Returns* Twice the amount of check, costs of suit, reasonable attorney fees. Legal: 10%
Judgment: 10% or contractual
Bond: $10,000 minimum (based on gross income)
License: Yes
Fee:
$1500 Application Fee
$600 Annual
Fee
$23 per Officers/Managers
CA
Federal Garnishment
Returns* Amount due, Treble damages - minimum $100 maximum $1500 per check Legal: 10%
Judgment: 10% (Unless otherwise
contracted) No license or bond required.
CO
Federal
Garnishment Returns*
Fees Bounced Check 3 years SOL UCC 4-3-11. Treble Damages & Reasonable Legal: 8% Judgment:8%
(or higher if specified in contract or note)
Bond: $12,000 - 20,000
License: Yes
Fee: Determined by collection
agency board
Exemption for out-of-state collectors: Out of state collectors are exempt if [1] collecting only by interstate
means (phone, fax, mail); [2] have no Colorado client; and [3] are regulated and licensed in the state in which they reside.
CT
25% you may garnish disposable earnings each week,
or 40 x fed. min. hourly wage, whichever is less. Personal liability of signatory on corporate claims unless signed in corporate
capacity.
Legal:8% Judgment:10%
Bond:$5000
License: Yes
Fee:
$200 Yearly
$50 Investigation
DE
85% of disposable earnings or disposable earnings
minus $150 weekly according to schedule.
Amount due, cost of suit, protest fees
Bounced Check SOL § 3-118.
3 Years Legal: Fed Reserve Discount Rate Plus 5% Points
Judgment: Fed Reserve Discount Rate Plus 5% Points
Bond: No
License: Merc. License
Fee: $50 Yearly
DC
Federal Garnishment Returns* D.C. Government employees are not attachable.
Amount Due - Protest Fees Legal:
6%
Judgment: 70% of interest rates on taxes to IRS Bond: No
License: No
Fee: No
FL
See federal law* except 100% head of household. Liberal Homestead Exemption - 1st
$1,000 of automobile
After 30 day demand-treble amount in addition to amount owed, bank & court costs & reasonable
attorney fees. Legal: 10%
Judgment: 10% or up to 18% if contractual 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.
GA
Legal: 7%
Judgment: 12%
Commercial Accounts: 18%
After 10 day written
demand double damages up to $500 and service charge of $20 or 5%, whichever is greater, See federal law. City, County &
State employees may be garnished. Bond: No
License: No
Fee: No
HI
Legal: 10%
Judgment: 10% (No Written Contract) Damages equal to $100 or triple
amount of check, not to exceed $500. General garnishment exemptions
95% of 1st $100, 90% of 2nd $100, 80% net wages
in excess of $200 per mo. Or federal limits whichever is greater. Collection agency bond & licenses
Bond: $25,000
/ $15,000 each branch
License or registration: Required to solicit/collect
ID
Legal:
12%
Judgment: 10.875% plus the base rate
Triple amount of check up to $500 over the check amount See federal
law. Bond: $5,000 initial
License: Yes
Fee: $100 -permit fee $50 - renewal
Exemption for out-of-state
collectors: Out-of-state collectors may qualify for a special license if [1] only collecting for client; and [2] are licensed
and bonded by any state
IA
Legal: 5%
Judgment: 10%
Triple check up to $500 over check amount See federal law. Bond: No
License: No
Fee:
No
IL
INTEREST RATE
Legal: 5%
Judgment: 9%
Triple check amount up to $500, attorney fees & court costs. 15% of gross wages or disposable earnings for workweek
up to 45 x fed. min. hourly wage, whichever is greater. 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.
IN
Legal: 8%
Judgment:
8% Triple check amount up to $500 over check amount, + attorney fees & interest up to 18% per annum or triple check amount
+ attorney fees and interest at 8% per annum 75% of disposable earnings for work week or the amount of 30 x fed. min. hourly
wage, whichever is greater. Bond: $5000 each office
License: Yes
Fee:
$100 plus $5 per annum, each unlicenced
employee
$30 branch office
$80 - Renewal
Exemption for out-of-state collectors: Out-of-state collectors
are exempt from licensing if
[1] collecting for a non-resident creditor; and
[2] collection activities limited
to interstate communications (phone, fax, mail).
KS
Legal:
10%
Judgment: 12%
Three times check amount not exceeding the check amount by $500 or $100 whichever
is greater plus attorney fees See Federal Law
Plus other personal property, benefit exemptions, and homestead Bond:
No
License: No
Fee: No
KY
Legal: 8%
Judgment: 12%
N/A 75% of disposable income or 30 times the federal minimum hourly wage (whichever
is greater) Bond: No
License: No
Fee: No
LA
Legal:
9.75%
Judgment: 9.75%
After 30 day written demand (certified or registered), twice check amount.
Attorney fees & court costs 75% disposable earnings per work week, but not less than 30 x fed. min. hourly wage. Bond:
Yes - $10,000
License: Yes
Fee:
$200 Initial
$200 Investigation
$200 Renewal
$100
Branch
$100 Branch Renewal
ME
Legal: 8%
Post
Judgment: 15% annual (less than $30,000) T-Bill rate over $30,000
Amount due, court costs, service costs
& collection costs You may garnish 25% of disposable income or 40 times the federal minimum wages per week (whichever
is less) After judgement only. Bond: $25,000 to $50,000
License: Yes
Fee: $400 Yearly
Exemption for out-of-state
collectors: Contact state authority. Licensing authority is allowing some exemptions to out-of-state agencies that collect
for non-resident creditors and are not soliciting.
MD
Legal:
6%
Judgment: 10% or contractual
After 30 day written notice, amount due,
$25 fee, twice check amount up
to $1000. (At the discretion of the court.) Applies to COD sales only. Greater of 75% or amount = to $145 x no. of wks. in
which wages due were earned; except in Caroline, Worchester, Kent & Queen Anne's Counties, see federal law. Exemption
is up to $3,000 in cash and/or property for non-wage property exemption. Bond: $5000
License: Yes
Fee: $200
each office
MA
Legal: 6%
Judgment: 12%
Contract:
12%
Amount due, costs of suit, protest fees
Additional damages $100 - $500 can be assessed. $125
week Bond: $10,000 - $25,000
License: Yes
Fee: Determined by commissioner
MI
Legal: 5%
Judgment: 7.162 changes semi-annually
Usury limit 25%
Twice
the amount of check-not to exceed $500.
Retail Claims - Notice Requirements. See federal law. (RETAIL ONLY)
Bond:
$5,000 - $50,000
License: Yes
Fee:
$150 - Investigation
$225 - Initial
$125 - Annually
Exemption
for out-of-state collectors: Out-of-state collector are exempt if [1] collecting by interstate means; and [2] have no clients
in the state of Michigan.
MN
Legal: 6%
Judgment:
5% (Changes Yearly)
Business or Agricultural Loan: 4.5% over federal discount rate
$100 or up to 100% of the
value of the check, whichever is greater, plus interest at the rate payable on judgments on the face amount of check, plus
reasonable attorney fees if aggregate amount of checks within 6 month period is over $1250.
Greater of 75% or amount
= to 40 x fed. min. hourly wage
Bond: $5,000 to $20,000
License: Yes
Fee:
$1,000 - Initial
$400
- Annual
$10 - Per Collector
MS
Legal: 8%
Judgment:
Amount in contract if no contract amount court decides
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 than $25.00. On checks over $200.00 additional damages would be 25% of check amount. See federal
law. Bond: No
License: City-Business
Fee: $15-$50
MO
Legal:
9%
Judgment: 9%
Three times face amount owed or $100 whichever is greater not to exceed $500 (exclusive
of attorney fees) See federal law; exempt 90% of week's net pay, head of household, single person w/o depend. = 75% Bond:
No
License: No
Fee: No
MT
Legal: 10%
Judgment: 10%
A binding written agreement may provide for interest of 15% or 6% above prime
$100
minimum or 3 times face value up to $500 See federal law. Bond: No
License: No
Fee: No
Caveats:
Foreign
corporations should register with MT Sec. of State prior to any suit in MT Courts or risk dismissal.
Attorney fees only
if provided by a signed written agreement.
NC
Legal:
8%
Judgment: 8%
30 day written demand lesser of $500 or 3x check amount, but not less than $100.
100% of last 60 days' earnings for family support. Garnishment only by political subdivisions for taxes, ambulance fees,
etc. Bond: $5,000 to $50,000
License: Yes
Fee: $500
Exemption for out-of-state collectors: Contact state
authorities. Unofficially, licensing authorities may allow out-of-state agencies to bypass requirements if they do not solicit
in state and/or work for in-state clients.
ND
Legal:
6%
Judgment: 12%
Amount due, collection fees of $20, and $100 or 3x check whichever is less. Greater of 75% or
amount each wk. = to 40 x fed. min. hourly wage. Plus $20.00 each household dependent. Bond: $20,000
License: Yes
Fee:
$200
Exemption for out-of-state collectors: Out-of-state collectors may be exempt if [1] collecting only; [2] their
office is located in a state that has a reciprocal law; and [3] the state has "enacted similar legislation".
NE
Legal: 12% per written instrument or contract rate
Judgment:
1% above bond equivalent yield as published by U.S. Treasury
Amount due, costs, protest fees Greater of 75% disposable
earnings (85% if head of household), or 30 x fed. minimum hourly wage. Bond: Based on Lic. Solic. Less Than 5 = 5,000, 5-15=$10,000,
16-Up=$15,000
License: Yes
Fee: (not to exceed)
$250 - Investigation
$200 - Original
$100
- Renewal
$50 - Investigation Branch Office
$35 - Original Branch Office
Exemption for out-of-state collectors:
Out-of-state collectors are exempt if [1] communicating by interstate means (phone, fax, mail); and [2] are "regulated"
by the laws of another state.
NH
Judgment: 7.6%
Amount
due, interest, court costs, reasonable costs of collection & $10 per day (max. $50)
50 x fed. min. hourly wage
- All future wages are exempt so that the court cannot issue an ongoing order. Bond: No
License: No
Fee: No
NJ
Legal: 6%
Judgment: No Statutory Provision
N/A
$142.50 wk. min. 10% of gross earnings $142.50 & Over Bond: $5000 Surety
License: No
Fee: No
NM
Judgment: 8.75% (in the absence of a written contract)
Amount
due, triple damages up to $500 per check. Complex requirements need to be met. Greater of 75% or amount each wk. = to 40 x
fed. min. hourly wage Bond: $5,000 minimum - based on volume
License: Yes
Fee:
$500 - original collection
agency or branch
$300 - renewal collection agency or branch
$100 - examination fee for manager's license
$50 - manager renewal
Exemption for out-of-state collectors: Out-of-state agency is exempt if [1] collecting
by interstate means (phone, fax, mail); and [2] debt was incurred outside the state of New Mexico.
NV
Legal: 2% Over Prime
Judgment: 2% Over Prime
Amount due,
protest fees three times check amount not more than $500, or less than $100 Garnish only. 25% of Disposable earnings for each
week or 30 times federal minimum hourly wage (whichever is less) Bond: $25,000 to $50,000
License: Yes
Fee:
$250 - App. Survey
$300 - Original
$200 - Renewal
Exemption for out-of-state collectors: Out-of-state
collectors are exempt if [1] collecting by interstate means (phone, fax, mail); and [2] collecting for an out-of-state client.
NY
INTEREST RATE
Legal: 16%
Judgment: 9%
Face
value of check plus two times check amount up to a maximum of $400 on NSF or $750 on "no account" (Demand prescribed
by law). GEN.OB.1.1-104 90% of earnings, except 1st $127.50 wk. wholly exempt. Bond: No
License: No
Fee: No
Buffalo: $5,000 Bond - $50 fee
NYC: License - $150 - 2 yr. fee
OH
Legal: 10%
Judgment: 10%
The greater of $200 or three times the amount of check and
attorney fees (no maximum) See federal law. Garnishment limited to once a month per employee. Bond: No
License: No
Fee: No
OK
Legal: 6%
Judgment: 4% over
U.S. Treasury Bill Rate of previous year. (1996 = 9.55% 1997 = 9.15%) N/A State law: 75% of earnings exempted, more if hardship
established. All federal exemptions apply. Bond: No
License: No
Fee: No
OR
Statutory + Judgment: 9% simple interest per annum (Unless specified by contract)
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. 75% of disposable earnings or 40 x fed. min. hourly wage. 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.
PA
Legal: 6%
Judgment: 6%
After
demand and judgment triple damages in amount equal to $1 00 or 3 times the check amount whichever is greater up to $500. 100%of
wages, certain pensions, retirement accounts & Keogh plan under certain circumstances, and $300.
Bond: No
License:
No
Fee: No
RI
Legal: 12%
Judgment: 12%
Amount
of check, $25 fee & treble damage up to $1000 See federal law. Bond: No
License: No
Fee: No
SC
Legal: 8.75%
Judgment: 14%
Reasonable court costs
amount of check& damages up to $500 or 3x check amount whichever is smaller 100% Bond: No
License: Yes - all business
Fee: No
Exemption for out-of-state collectors: License required for in-state agency only.
SD
Legal: 12%
Judgment: 10%
N/A 20% of the individuals disposable
earnings for a 60 day period Bond: No
License: No
Fee: No
TN
Legal:
10%
Judgment: 10% (or contract rate) (varies with type of transaction)
Treble damages up to $500 + 10% interest
& reasonable service charges, atty's fees, & court costs.
See federal law. Add $2.50 per wk. for dependent
child under 16.
Bond:
$15,000 1-4 employee
$20,000 5-9 employee
$25,000 10 or more
License:
Yes
Fee:
$600 - Original
$350 - Renewal
$25 - Each Solicitor
Exemption for out-of-state
collectors: Contact state licensing authority. Out-of-state agencies may be exempt if they [1] maintain office in another
state; [2] resides in a state that provides reciprocity; and [3] comply with provisions of licensing.
TX
Legal: 6% with agreement can charge up to 18%. w/o agreement - statutory interest
of 6% begins to run 30th day after becoming due
Judgment: 10% N/A
100% of Wages
Bond: Yes
License:
No
Fee: No
Always consult counsel to charge interest - Texas has very onerous usury laws & penalties.
UT
Legal: 7.35%
Judgment: Contract rate or Federal Judgment
Rate
Certified statutory bad check notice must be sent. Amount due, interest, court costs, reasonable attorney's
fees, plus $15 bad check fee. $142.50 of disposable earnings for wages paid weekly. Bond: $10,000
License: Yes
Fee:
Varies by City and County.
VA
Legal: 8%
Judgment:
9% or contract rate whichever is higher
Lesser of $250 or three times check amount See federal law. Bond:$5000
License:
Depends on Locality
Fee: No
VT
Legal: 12%
Judgment:
12%
Court costs, amount of check, attorney’s fees, damage of $50. (Notices required) 75% of earning above minimum
wage or what is necessary to live. Bond: No
License: No
Fee: No
WA
Legal:
12%
Judgment: 12%
Lesser of check amount or 12% interest, collection costs up to $40. If taken to
court, reasonable attorney's fees, 3 x value, or up to $300. Now have 6 years to enforce a bad check. Greater of 75% or
$64 wk. (40 x state min. hourly wage).
Bond: $6000 general, $4000 specialty
License: Yes
Fee:
$100
- Investigation
$100 - Original
$100 - Renewable
$50 - Branch Office
Exemption for out-of-state
collectors: Contact state authorities. Out-of-state agencies may qualify for lesser licensing fees. Out-of-state collectors
are no longer required to have resident office and in-state trust accounts if they don't have in-state client. Bond is
not required if held in home state.
WV
Legal: 6%
Judgment:
10%
Amount due, service charge up to $10. If check is under $500.00 = misdemeanor. Over $500.00 = felony. See West Va
code 38-5A-3-Employees withhold 20% of disposable income or 30x the minimum hourly rate, whichever is less. Other exemptions
apply. COLLECTION AGENCY BOND & LICENSE
Bond: $5,000
License: Yes - Franchise Reg. Cert.
Fee: $15
Annual
Exemption for out-of-state collectors: Contact state authorities. Some out-of-state agencies may be exempt if
they are only collecting for out-of-state clients.
WI
Legal:
5%
Judgment: 12%
Amount of check plus actual damages + exemplary damages up to three times value
of check. Limited to $300. 80% of net pay. Bond: $15,000 min.
License: Yes
Fee:
$1000 - Investigation
$200 - Annual
Exemption for out-of-state collectors: Out-of-state agencies do not need to be licensed if [1]
collecting by interstate means (phone, fax, mail); and [2] collecting for an out-of-state client.
WY
Legal: 7%
Judgment: contract rate or 10% judgment rate
Double
the face amount plus damages equal to collection cost and reasonable attorney fees. See federal law for consumer credit sale,
lease or loan. Up to 65% for child support arrearage. Bond: $10,000
License: Yes
Fee:
$200 - Original
$100 - Renewal
$100 - Branch
Exemption for out-of-state collectors: Out-of-state agencies may bypass licensing
if they are not [1] soliciting clients in Wyoming; or [2] collecting for Wyoming creditors.
