I found this on a website:
In researching your debts, statute's and credit rating it is often necessary to know the "collection laws" of a particular state. Because state laws vary, knowing the right collection law for your state or your creditors state is essential. Here, you can find bad check laws, state collection requirements, statutes of limitations for both debts and judgements, garnishments, plus license and bonding information for collection agents. Totally invaluable! This information is provided at commercialbar.com and can be used in conjunction with our information on defending the statute of limitation.
STATE: MISSOURI
INTEREST RATE
- Legal: 9% <<< Is this the amount the OC or CA can charge on your past due amount?
- Judgment: 9%
STATUTE OF LIMITATIONS (IN YEARS)
- Sale of Goods: 4
- Open Acct.: 5
- Written Contract: 10
- Money & Property:
- Domestic Judgment: 10 (Revived every 3 years)
- Foreign Judgment: 10 (Revived every 3 years)
BAD CHECK LAWS (CIVIL PENALTY)
Three times face amount owed or $100 whichever is greater not to exceed $500 (exclusive of attorney fees)
GENERAL GARNISHMENT EXEMPTIONS
See federal law; exempt 90% of week's net pay, head of household, single person w/o depend. = 75%
COLLECTION AGENCY BOND & LICENSE
- Bond: No
- License: No
- Fee: No
Message Edited by sidewinder on
02-15-2008 07:21 AM