Georgia Collection Laws
Many states impose responsibilities, liabilities and penalties upon companies for activities of Georgia debt collectors engaged by them in the collection of debts. You need to know the Georgia collection laws and state debt collections law.
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You can be held accountable for what your Georgia collection attorney does or
doesn't do. You must know the Georgia 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 Georgia collections laws listed below
and make sure your Georgia 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: Georgia Statute of Limitations, Georgia Judgments, Georgia Garnishments,
Georgia Interest Rates, Georgia Bad Check Laws and Georgia Collection Agency
Requirements.
Official Code of George Title 7-3, Section 25 (7-3-25)
INTEREST RATE
Legal: 7%
Judgment: 12%
Commercial Accounts: 18%
STATUTE OF LIMITATIONS (IN YEARS)
Open Acct.: 4
Written Contract: 6
Domestic Judgment: 7
Foreign Judgment: 5
BAD CHECK LAWS (CIVIL PENALTY)
After 10 day written demand double damages up to $500 and service charge of $20
or 5%, whichever is greater,
GENERAL GARNISHMENT EXEMPTIONS
See federal law. City, County & State employees may be garnished.
COLLECTION AGENCY BOND & LICENSE
Bond: No
License: No
Fee: No
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