West Virginia Collection Laws
Many states impose responsibilities, liabilities and penalties upon companies for activities of West Virginia debt collectors engaged by them in the collection of debts. You need to know the West Virginia collection laws and state debt collections law.
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You can be held accountable for what your West Virginia collection attorney does
or doesn't do. You must know the West Virginia 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
West Virginia collections laws listed below and make sure your West Virginia
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: West Virginia
Statute of Limitations, West Virginia Judgments, West Virginia Garnishments, North
Dakota Interest Rates, West Virginia Bad Check Laws and West Virginia Collection
Agency Requirements.
West Virginia Code, Chapter 47, Article 16 et seq.
INTEREST RATE
Legal: 6%
Judgment: 10%
STATUTE OF LIMITATIONS (IN YEARS)
Open Acct.: 5
Written Contract: 10
Domestic Judgment: 10
Foreign Judgment: 10
BAD CHECK LAWS (CIVIL PENALTY)
Amount due, service charge up to $10. If check is under $500.00 = misdemeanor.
Over $500.00 = felony.
GENERAL GARNISHMENT EXEMPTIONS
See West VA code 38-5A-3-Employees withhold 20% of disposable income or 30x the
minimum hourly rate, whichever is less. Other exemptions apply.
COLLECTION AGENCY BOND & LICENSE
Bond: $5,000
License: Yes - Franchise Reg. Cert.
Fee: $15 Annual
Exemption for out-of-state collectors: Contact state authorities. Some
out-of-state agencies may be exempt if they are only collecting for out-of-state
clients.
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a FREE West Virginia Collection Attorney quote now.