Alabama Collection Laws
Many states impose responsibilities, liabilities and penalties upon companies for activities of Alabama debt collectors engaged by them in the collection of debts. You need to know the Alabama collection laws and state debt collections law.
 |
||
 |
||
 |
||
 |
You can be held accountable for what your Alabama collection attorney does or
doesn't do. You must know the Alabama collection laws, and the information here
can reduce your liability by giving you the state debt collections law
information for making informed decisions. Please study the Alabama collections laws listed below
and make sure your Alabama collection lawyer abides by them to the letter.
Debt collections law vary, and knowing the right collection
law for your state and your debtor's state is essential. Here you can read up
on: Alabama Statute of Limitations, Alabama Judgments, Alabama Garnishments,
Alabama Interest Rates, Alabama Bad Check Laws and Alabama Collection Agency
Requirements.
Code of Alabama Title 40, Chapter 12, Section 80 (40-12-80)
INTEREST RATE
Legal: 6%
Judgment: 12%
STATUTE OF LIMITATIONS (IN YEARS)
Open Acct.: 3
Written Contract: 6
Domestic Judgment: 20
Foreign Judgment: 20
BAD CHECK LAWS (CIVIL PENALTY)
Greater of $10 or Actual Bank Charges
GENERAL GARNISHMENT EXEMPTIONS
75% of wages are exempt from garnishment
COLLECTION AGENCY BOND & LICENSE
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.
Get
a FREE Alabama Collection Attorney quote now.