New York Collection Laws

INTEREST RATE

• Legal: 16%
• Judgment: 9%

STATUTE OF LIMITATIONS (IN YEARS)

• Open Acct.: 6
• Written Contract: 6
• Domestic Judgment: 20 (1 0 yr. renewable lien)
• Foreign Judgment: 20 (1 0 yr. renewable lien)

BAD CHECK LAWS (CIVIL PENALTY)
Face value of check plus two times check amount up to a maximum of $400 on NSF or $750 on "no account" (Demand prescribed by law). GEN.OB.1.1-104

GENERAL GARNISHMENT EXEMPTIONS
90% of earnings, except 1st $127.50 wk. wholly exempt.

COLLECTION AGENCY BOND & LICENSE

• Bond: No
• License: No
• Fee: No
• Buffalo: $5,000 Bond - $50 fee
• NYC: License - $150 - 2 yr. fee

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.