Nevada Collection Laws
Many states impose responsibilities, liabilities and penalties upon companies for activities of Nevada debt collectors engaged by them in the collection of debts. You need to know the Nevada collection laws and state debt collections law.
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You can be held accountable for what your Nevada collection attorney does or
doesn't do. You must know the Nevada 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 Nevada collections laws listed below
and make sure your Nevada 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: Nevada Statute of Limitations, Nevada Judgments, Nevada Garnishments,
Nevada Interest Rates, Nevada Bad Check Laws and Nevada Collection Agency
Requirements.
INTEREST RATE
Legal: 2% Over Prime
Judgment: 2% Over Prime
STATUTE OF LIMITATIONS (IN YEARS)
Open Acct.: 4
Written Contract: 6
Lease: 4
Domestic Judgment: 6
Foreign Judgment: 6
BAD CHECK LAWS (CIVIL PENALTY)
Amount due, protest fees three times check amount not more than $500, or less
than $100
GENERAL GARNISHMENT EXEMPTIONS
Garnish only. 25% of Disposable earnings for each week or 30 times federal
minimum hourly wage (whichever is less)
COLLECTION AGENCY BOND & LICENSE
Bond: $25,000 to $50,000
License: Yes
Fee:
$250 - App. Survey
$300 - Original
$200 - Renewal
Exemption for out-of-state collectors: Out-of-state collectors are exempt if [1]
collecting by interstate means (phone, fax, mail); and [2] collecting for an
out-of-state client.
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