Arizona Collection Laws
Many states impose responsibilities, liabilities and penalties upon companies for activities of Arizona debt collectors engaged by them in the collection of debts. You need to know the Arizona collection laws and state debt collections law.
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You can be held accountable for what your Arizona collection attorney does or
doesn't do. You must know the Arizona 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 Arizona collections laws listed below
and make sure your Arizona 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: Arizona Statute of Limitations, Arizona Judgments, Arizona Garnishments,
Arizona Interest Rates, Arizona Bad Check Laws and Arizona Collection Agency
Requirements.
INTEREST RATE
Legal: 10%
Judgment: 10% or contractual
STATUTE OF LIMITATIONS (IN YEARS)
Open Acct.: 3
Written Contract: 6 in AZ. - 4 outside AZ.
Domestic Judgment: 5-additional 5 upon request (indefinitely)
Foreign Judgment: 4
BAD CHECK LAWS (CIVIL PENALTY)
Twice the amount of check, costs of suit, reasonable attorney fees.
GENERAL GARNISHMENT EXEMPTIONS
See federal law.
COLLECTION AGENCY BOND & LICENSE
Bond: $10,000 minimum (based on gross income)
License: Yes
Fee:
$1500 Application Fee
$600 Annual Fee
$23 per Officers/Managers
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