Oregon Collection Laws
Many states impose responsibilities, liabilities and penalties upon companies for activities of Oregon debt collectors engaged by them in the collection of debts. You need to know the Oregon collection laws and state debt collections law.
 |
||
 |
||
 |
||
 |
You can be held accountable for what your Oregon collection attorney does
or doesn't do. You must know the Oregon 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
Oregon collections laws listed below and make sure your Oregon
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: Oregon
Statute of Limitations, Oregon Judgments, Oregon Garnishments, North
Dakota Interest Rates, Oregon Bad Check Laws and Oregon Collection
Agency Requirements.
Oregon Revised Statute, Chapter 646, Section 646.639 et seq.
INTEREST RATE
Statutory + Judgment: 9% simple interest per annum (Unless specified by
contract)
STATUTE OF LIMITATIONS (IN YEARS)
Open Acct.: 6
Sale of Goods: 6 (4 yrs UCC Transaction)
Written Contract: 6
Domestic Judgment: 10 - Renewable at 10
Foreign Judgment: 10
BAD CHECK LAWS (CIVIL PENALTY)
Can recover reasonable attorney fees & statutory damages of three times the
amount of the NSF check plus$500 if demand letter is sent to debtor 30 days
before suit is filed.
GENERAL GARNISHMENT EXEMPTIONS
75% of disposable earnings or 40 x fed. min. hourly wage.
COLLECTION AGENCY BOND & LICENSE
Bond: No
License: Registration only
Fee: Established by director
Exemption for out-of-state collectors: Contact state authorities. Out-of-state
agencies may be exempt if [1] collecting for out-of-state client; [2] the debt
was incurred by an Oregonian outside the state; and [3] the state where the
collection agency is headquartered has a registration program comparable to
Oregon's law.
Get
a FREE Oregon Collection Attorney quote now.