North Carolina Collection Laws

INTEREST RATE

• Legal: 8%
• Judgment: 8%

STATUTE OF LIMITATIONS (IN YEARS)

• Open Acct.: 3
• Sale of Goods: 4
• Written Contract: 3
• Domestic Judgment: 10
• Foreign Judgment: 10

BAD CHECK LAWS (CIVIL PENALTY)
30 day written demand lesser of $500 or 3x check amount, but not less than $100.

GENERAL GARNISHMENT EXEMPTIONS
100% of last 60 days' earnings for family support. Garnishment only by political subdivisions for taxes, ambulance fees, etc.

COLLECTION AGENCY BOND & LICENSE

• Bond: $5,000 to $50,000
• License: Yes
• Fee: $500
• Exemption for out-of-state collectors: Contact state authorities. Unofficially, licensing authorities may allow out-of-state agencies to bypass requirements if they do not solicit in state and/or work for instate clients.

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.