Idaho Collection Laws
Many states impose responsibilities, liabilities and penalties upon companies for activities of Idaho debt collectors engaged by them in the collection of debts. You need to know the Idaho collection laws and state debt collections law.
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You can be held accountable for what your Idaho collection attorney does or
doesn't do. You must know the Idaho 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 Idaho collections laws listed below
and make sure your Idaho 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: Idaho Statute of Limitations, Idaho Judgments, Idaho Garnishments,
Idaho Interest Rates, Idaho Bad Check Laws and Idaho Collection Agency
Requirements.
Title 26, Chapter 22
INTEREST RATE
Legal: 12%
Judgment: 10.875% plus the base rate
STATUTE OF LIMITATIONS (IN YEARS)
Open Acct.: 4
Oral Contract: 4
Written Contract: 5
Domestic Judgment: 5 renewable
Foreign Judgment: 6 renewable
BAD CHECK LAWS (CIVIL PENALTY)
Triple amount of check up to $500 over the check amount
GENERAL GARNISHMENT EXEMPTIONS
See federal law.
COLLECTION AGENCY BOND & LICENSE
Bond: $5,000 initial
License: Yes
Fee: $100 -permit fee $50 - renewal
Exemption for out-of-state collectors: Out-of-state collectors may qualify for a
special license if [1] only collecting for client; and [2] are licensed and
bonded by any state.
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