Alaska Collection Laws
Many states impose responsibilities, liabilities and penalties upon companies for activities of Alaska debt collectors engaged by them in the collection of debts. You need to know the Alaska collection laws and state debt collections law.
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You can be held accountable for what your Alaska collection attorney does or
doesn't do. You must know the Alaska 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 Alaska collections laws listed below
and make sure your Alaska 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: Alaska Statute of Limitations, Alaska Judgments, Alaska Garnishments,
Alaska Interest Rates, Alaska Bad Check Laws and Alaska Collection Agency
Requirements.
Alaska Statute Title 45, Chapter 50, Section 471 (45-50-471)
INTEREST RATE
Legal: 10.5%
Judgment: 10.5% or contractual
STATUTE OF LIMITATIONS (IN YEARS)
Sale of Goods: 4
Written Contract: 6
Domestic Judgment: 10
Foreign Judgment: 10
BAD CHECK LAWS (CIVIL PENALTY)
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.
GENERAL GARNISHMENT EXEMPTIONS
75% of employee's weekly net income or $402.50 whichever is more.
COLLECTION AGENCY BOND & LICENSE
Bond: $5000 License: Yes
Fee:
$100 - Application
$200 - Agency Biennially
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