Arkansas Collection Laws

Interest rate

Sued in Arkansas? Your legal Interest and your judgment interest:

INTEREST RATE

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

Arkansas Statute of limitations in years

Sued for a Charge Off in Arkansas or an Open Account?

•  
  • 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

Is your check about to get garnished in Arkansas?

• $500 head of family; $200 single. Includes personal property except clothing

Collection agency bond & license

Collection agencies after you in Arkansas? They need to be licensed!

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

Have you been sued in Arkansas? Use the above information to help you.

Recieved a Summons in Arkansas? Get help today!

This site has taken this information from the website listed in this state. We will not be held liable for any errors or for not updating. Updates are done every 3 months.