Tennessee Collection Agency Laws

Tennessee Collection Agency Laws that regulate debt collection.

The Creditors Guide To Tennessee Collection Laws

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

INTEREST RATE

• Legal: 10%
• Judgment: 10% (or contract rate) (varies with type of transaction)

STATUTE OF LIMITATIONS (IN YEARS)

• Open Acct.: 6
• Written Contract: 6
• Domestic Judgment: 10
• Foreign Judgment: 10

BAD CHECK LAWS (CIVIL PENALTY)
Treble damages up to $500 + 10% interest & reasonable service charges,atty.'s fees, & court costs.

GENERAL GARNISHMENT EXEMPTIONS
See federal law. Add $2.50 per wk. for dependent child under 16.

COLLECTION AGENCY BOND & LICENSE

• Bond:
  • $15,000 1-4 employee
  • $20,000 5-9 employee
  • $25,000 10 or more
• License: Yes
• Fee:
  • $600 - Original
  • $350 - Renewal
  • $25 - Each Solicitor
• Exemption for out-of-state collectors: Contact state licensing authority. Out-of-state agencies may be exempt if they [1] maintain office in another state; [2] resides in a state that provides reciprocity; and [3] comply with provisions of licensing.

Recommended Tennessee Collection Agency Listings:

TennesseeCollection 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 Tennessee collection laws changes.

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