Maryland Collection Agency Laws

Maryland Collection Agency Laws that regulate debt collection.

The Creditors Guide To Maryland Collection Laws

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

INTEREST RATE

• Legal: 6%
• Judgment: 10% or contractual

STATUTE OF LIMITATIONS (IN YEARS)

• Open Acct.: 3
• UCC: 4
• Specialty: 12 (contract under seal)
• Written Contract: 3
• Domestic Judgment: 12
• Foreign Judgment: 12

BAD CHECK LAWS (CIVIL PENALTY)
After 30 day written notice, amount due, $25 fee, twice check amount up to $1000. (At the discretion of the court.) Applies to COD sales only.

GENERAL GARNISHMENT EXEMPTIONS
Greater of 75% or amount = to $145 x no. of wks. in which wages due were earned; except in Caroline, Worchester, Kent & Queen Anne's Counties, see federal law. Exemption is up to $3,000 in cash and/or property for non-wage property exemption.

COLLECTION AGENCY BOND & LICENSE

• Bond: $5000
• License: Yes
• Fee: $200 each office

Recommended Maryland Collection Agency Listings:

MarylandCollection 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 Maryland collection laws changes.

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