Puerto Rico Collection Agency Laws

Puerto Rico Collection Agency Laws that regulate debt collection.

The Creditors Guide To Puerto Rico Collection Laws

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

INTEREST RATE

• Legal: 9.25% changes every 6 months (6/30/97)
• Judgment: It is Regulated by the Commissioner of the Board of Financial institutions every 6 months.

STATUTE OF LIMITATIONS (IN YEARS)

• Open Acct.: 3
• Merchandise Open Acct.: 3
• Written Contract: 15
• Mortgage: 20
• Domestic Judgment: 15
• Foreign Judgment: 15

BAD CHECK LAWS (MISDEMEANOR)
See articles 1851-1856 of the Puerto Rico Penal Code regarding bad check laws.

GENERAL GARNISHMENT EXEMPTIONS
75% of last 30 days' earnings for family support

COLLECTION AGENCY BOND & LICENSE

• Bond:$5000
• License: Yes
• License Fee:
  • $100 - Original
  • $100 - Branch Office
  • $100 - Renewable
  • $100 - Investigation

Recommended Puerto Rico Collection Agency Listings:

Puerto RicoCollection 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 Puerto Rico collection laws changes.

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