Washington Collection Laws
Many states impose responsibilities, liabilities and penalties upon companies for activities of Washington debt collectors engaged by them in the collection of debts. You need to know the Washington collection laws and state debt collections law.
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You can be held accountable for what your Washington collection attorney does
or doesn't do. You must know the Washington 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
Washington collections laws listed below and make sure your Washington
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: Washington
Statute of Limitations, Washington Judgments, Washington Garnishments, North
Dakota Interest Rates, Washington Bad Check Laws and Washington Collection
Agency Requirements.
Revised Code of Washington, Title 19, Chapter 16
INTEREST RATE
Legal: 12%
Judgment: 12%
STATUTE OF LIMITATIONS (IN YEARS)
Open Acct.: 3
Written Contract: 6
Domestic Judgment: 10
Foreign Judgment: 10
BAD CHECK LAWS (CIVIL PENALTY)
Lesser of check amount or 12% interest, collection costs up to $40. If taken to
court, reasonable attorney's fees, 3 x value, or up to $300. Now have 6 years to
enforce a bad check.
GENERAL GARNISHMENT EXEMPTIONS
Greater of 75% or $64 wk. (40 x state min. hourly wage).
COLLECTION AGENCY BOND & LICENSE
Bond: $6000 general, $4000 specialty
License: Yes
Fee:
$100 - Investigation
$100 - Original
$100 - Renewable
$50 - Branch Office
Exemption for out-of-state collectors: Contact state authorities. Out-of-state
agencies may qualify for lesser licensing fees. Out-of-state collectors are no
longer required to have resident office and instate trust accounts if they don't
have instate client. Bond is not required if held in home state.
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