Pennsylvania Collection Laws
Many states impose responsibilities, liabilities and penalties upon companies for activities of Pennsylvania debt collectors engaged by them in the collection of debts. You need to know the Pennsylvania collection laws and state debt collections law.
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You can be held accountable for what your Pennsylvania collection attorney does
or doesn't do. You must know the Pennsylvania 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
Pennsylvania collections laws listed below and make sure your Pennsylvania
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: Pennsylvania
Statute of Limitations, Pennsylvania Judgments, Pennsylvania Garnishments, North
Dakota Interest Rates, Pennsylvania Bad Check Laws and Pennsylvania Collection
Agency Requirements.
Pennsylvania Statute, Title 73, Chapter 42 (73 P.S. § 2270.1)
INTEREST RATE
Legal: 6%
Judgment: 6%
STATUTE OF LIMITATIONS (IN YEARS)
Open Acct.: 4
Written Contract: 4
Domestic Judgment: 5 (writ of revival within 5 yrs.)
Foreign Judgment: 4
-Lien against real estate: 5 yrs.
-Personal property Ex: 20 yrs.
BAD CHECK LAWS (CIVIL PENALTY)
After demand and judgment triple damages in amount equal to $1 00 or 3 times the
check amount whichever is greater up to $500.
GENERAL GARNISHMENT EXEMPTIONS
100%of wages, certain pensions, retirement accounts & Keogh plan under certain
circumstances, and $300.
COLLECTION AGENCY BOND & LICENSE
Bond: No
License: No
Fee: No
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