Arkansas Collection Agency Laws

Arkansas Collection Agency Laws that regulate debt collection.

The Creditors Guide To Arkansas Collection Laws

Following is a some important information on ArkansasCollection Laws including: Arkansas Statutes, Arkansas Judgments, Arkansas Garnishments, Arkansas Interest Rates, Arkansas Bad Check Laws and Arkansas Collection Agency Requirements. Please be sure that you check the Arkansas State website for the latest updates to the Arkansas Collection Agency Laws.

INTEREST RATE

• Legal: 6% or 5 points above the Fed. discount rate
• Judgment: Contract rate or 10% per annum whichever is greater

STATUTE OF LIMITATIONS (IN YEARS)

• Open Acct.: 3
• Written Contract: 5 (partial payment stops the statute from running)
• Sale of Goods: (UCC-2) - 4
• Domestic Judgment: 10 - Renewable
• Foreign Judgment: 10

BAD CHECK LAWS (CIVIL PENALTY)
Twice amount of check - prior to double charge - can start out with $15 charge per NSF check after 30 days.

GENERAL GARNISHMENT EXEMPTIONS
$500 head of family; $200 single. Includes personal property except clothing.

COLLECTION AGENCY BOND & LICENSE

• Bond: $5000 to $25000
• License: Yes
• Fee: $125 - $5 each employee

Recommended Arkansas Collection Agency Listings:

ArkansasCollection Agency
Debt-Collection-Laws.com offers you a directory of the top ranked debt collection agencies in the United States by state.

Please note this website site not intended to give legal advice and may not be complete or up to date with the most current Arkansas collection laws changes.

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