Mississippi Collection Laws

INTEREST RATE

• Legal: 8%
• Judgment: amount in contract if no contract amount court decides

STATUTE OF LIMITATIONS (IN YEARS)

• Open Acct.: 3
• Written Contract: 3
• UCC: 6
• Domestic Judgment: 7
• Foreign Judgment: 7 (3 if resident)

BAD CHECK LAWS (CIVIL PENALTY)
On checks up to and including $25.00, additional damages would be 100% of check amount. On checks from $25.01 to $200.00, additional damages would be 50% of check amount but not less than $25.00. On checks over $200.00 additional damages would be 25% of check amount.

GENERAL GARNISHMENT EXEMPTIONS
See federal law.

COLLECTION AGENCY BOND & LICENSE

• Bond: No
• License: City-Business
• Fee: $15-$50

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.