Maryland Collection 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

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.