Massachusetts Collection Laws
Many states impose responsibilities, liabilities and penalties upon companies for activities of Massachusetts debt collectors engaged by them in the collection of debts. You need to know the Massachusetts collection laws and state debt collections law.
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You can be held accountable for what your Massachusetts collection attorney does or
doesn't do. You must know the Massachusetts 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 Massachusetts collections laws listed below
and make sure your Massachusetts 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: Massachusetts Statute of Limitations, Massachusetts Judgments, Massachusetts Garnishments,
Massachusetts Interest Rates, Massachusetts Bad Check Laws and Massachusetts Collection Agency
Requirements.
Mass. General Law, Part 1, Title XV, Chapter 93, Sections 24-28 & Section 49
INTEREST RATE
Legal: 6%
Judgment: 12%
Contract: 12%
STATUTE OF LIMITATIONS (IN YEARS)
Open Acct. on Contract: 6
Contract: 6
Sales (UCC) Contract: 4
Domestic Judgment: 20 (presumed satisfied after 20 years)
Foreign Judgment: 20
Contracts Under Seal: 20
BAD CHECK LAWS (CIVIL PENALTY)
Amount due, costs of suit, protest fees
Additional damages $100 - $500 can be assessed.
GENERAL GARNISHMENT EXEMPTIONS
$125 week
COLLECTION AGENCY BOND & LICENSE
Bond: $10,000 - $25,000
License: Yes
Fee: Determined by commissioner
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