State Statutes

Nebraska thru Wyoming

nebraska

INTEREST RATE

  • Legal: 12%
  • Judgment: 2% above the bond investment yield of the 28 week U.S. Treasury Bill

STATUTE OF LIMITATIONS (IN YEARS)

  • Open Account: 4
  • Written Contract: 5
  • Domestic Judgment: 5 renewable every 5
  • Foreign Judgment: 5 non-renewable

BAD CHECK LAWS (CIVIL PENALTY)

  • Amount due, costs, protest fees.

GENERAL GARNISHMENT EXEMPTIONS

  • Greater 75% disposable earnings (85% if head of household), or 30x fed. min. hourly wage.
nevada

INTEREST RATE

  • Contract rate always prevails. If no contract then Nevada statutory rate applies.
  • Pre-Judgment: Satutory rate = 2% Over Prime as determined by 3 medium reserve banks in the western states every 6 months.
  • Judgment: Same as pre-judgment

STATUTE OF LIMITATIONS (IN YEARS)

  • Open Account: 4
  • Written Contract: 6
  • Lease: 6
  • Domestic Judgment: 6
  • Foreign Judgment: 6

BAD CHECK LAWS (CIVIL PENALTY)

  • Amount due, protest fees, three times check amount not more than $500, or less than $100.

GENERAL GARNISHMENT EXEMPTIONS

  • Wages no more than 25% of Disposable earnings for each week or 50 times federal minimum hourly wage (whichever is less) except for support orders.
new hampshire

INTEREST RATE

  • Judgment: 2007 – 6.8% (changes every year on the 1st of January)

STATUTE OF LIMITATIONS (IN YEARS)

  • Open Account: 3
  • Domestic Written Contract: 6
  • Foreign Written Contract: 4
  • Domestic Judgment: 5 (additional 5 upon request indefinitely)
  • Foreign Judgment: 4

BAD CHECK LAWS (CIVIL PENALTY)

  • Amount due, interest, court costs, reasonable attorney’s fees & $10 per business day (max. $500). If statutory notice is sent. (RSA 544-B)

GENERAL GARNISHMENT EXEMPTIONS

  • 50 x fed. min. hourly wage. All future wage are exempt so that the court cannot issue an onging order.
new jersey

INTEREST RATE

  • Legal: up to 30% – as provided for by contract
  • Judgment: Changes yearly. In 2007 – 4% on judgments up to %15,000. On judgments in excess of $15,000, an additional 2% is added to the interest rate.

STATUTE OF LIMITATIONS (IN YEARS)

  • Open Account: 6
  • Sale of Goods: 4
  • Written Contract: 6
  • Domestic Judgment: 20
  • Foreign Judgment: 20
  • Auto Deficiency: 4

BAD CHECK LAWS (CIVIL PENALTY)

  • Face amount of the check plus 3x the face value of the check, with the civil penalty not to exceed $500.

GENERAL GARNISHMENT EXEMPTIONS

  • $154.50 week min. 10% of gross earnings $154.50 & over.
new mexico

INTEREST RATE

  • Judgment: 8.75% (in the absence of a written contract)

STATUTE OF LIMITATIONS (IN YEARS)

  • Open Account: 4
  • Written Contract: 6
  • Auto Deficiency: 4
  • Domestic Judgment: 14
  • Foreign Judgment: 14

BAD CHECK LAWS (CIVIL PENALTY)

  • Amount due, triple damages up to $500 per check. Complex requirements need to be met.

GENERAL GARNISHMENT EXEMPTIONS

  • Greater of 75% or amount each week = to 40 x fed. min. hourly wage.
new york

INTEREST RATE

  • Legal: 16%
  • Judgment: 9%

STATUTE OF LIMITATIONS (IN YEARS)

  • Open Account: 6
  • Sale of Goods: 4
  • Written Contract: 6
  • Domestic Judgment: 20 (10 year renewable lien)
  • Foreign Judgment: 20 (10 year renewable lien)

BAD CHECK LAWS (CIVIL PENALTY)

  • Face value of check plus two time scheck 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 $154.50 week wholly exempt (only if the person earns minimum wage).
north carolina

INTEREST RATE

  • Legal: 8%
  • Judgment: 8%

STATUTE OF LIMITATIONS (IN YEARS)

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

BAD CHECK LAWS (CIVIL PENALTY)

  • 30 day written demand lesser of $500 or 3 x 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.
north dakota

INTEREST RATE

  • Legal: 6%
  • Judgment: 11.5%

STATUTE OF LIMITATIONS (IN YEARS)

  • Open Account: 6
  • Written Contract: 6
  • Sale of Goods: 4
  • Domestic Judgment: 10 renewable
  • Foreign Judgment: 10 renewable

BAD CHECK LAWS (CIVIL PENALTY)

  • Amount due, collection fees of $25, and civil penalty by civil action for lesser of $200 or 3x check. Effective 08/01/01.

GENERAL GARNISHMENT EXEMPTIONS

  • Greater of 75% or amount each week = to 40 x fed. min. hourly wage plus $20.00 each household dependent.
ohio

INTEREST RATE

  • Legal: 10%
  • Judgment: 10%

STATUTE OF LIMITATIONS (IN YEARS)

  • Open Account: 6
  • Written Contract: 15
  • Sales Contract: (UCC2-725)
  • Domestic Judgment: 21 renew every 5
  • Foreign Judgment: 21 renew every 5

BAD CHECK LAWS (CIVIL PENALTY)

  • The greater of $200 or three times the amount of check and attorney fees (no maximum).

GENERAL GARNISHMENT EXEMPTIONS

  • See federal law. Effective 03/30/99 Ohio allows continuing garnishments.
oklahoma

INTEREST RATE

  • Legal: 6%
  • Judgment: 10.25% for 2007 (Rate changes on January 1st of each year and is two percentage points above the prime interest rate quoted in the Wall Street Jornal on the first business day of the year).

STATUTE OF LIMITATIONS (IN YEARS)

  • Sale of Goods Governed by UCC: 5
  • Open Account: 3
  • Written Contract: 5
  • Domestic Judgment: 5 renewable
  • Foreign Judgment: 5 renewable

BAD CHECK LAWS (CIVIL PENALTY)

  • N/A

GENERAL GARNISHMENT EXEMPTIONS

  • State law: 75% of earnings exempted, more if hardship established. All federal exemptions apply.
oregon

INTEREST RATE

  • Statutory + Judgment: 9% simple interest per annum (unless specified by contract)

STATUTE OF LIMITATIONS (IN YEARS)

  • Open Account: 6
  • Written Contract: 6
  • Sale of Goods: 6 (4 years UCC Transaction)
  • Domestic Judgment: 10 renewable at 10
  • Foreign Judgment: 10

BAD CHECK LAWS (CIVIL PENALTY)

  • Can recover reasonable attorney fees & statutory damages of three times the amount of the NSF check plus $500 if demand letter is sent to debtor 30 days before suit is filed.

GENERAL GARNISHMENT EXEMPTIONS

  • 75% of disposable earnings or 40 x fed. min. hourly wage.
pennsylvania

INTEREST RATE

  • Legal: 6%
  • Judgment: 6%

STATUTE OF LIMITATIONS (IN YEARS)

  • Open Account: 4
  • Written Contract: 4
  • Domestic Judgment: 5 (writ of revival within 5 years)
  • Lien against real estate: 5 years
  • Personal property Ex: 20 years
  • Foreign Judgment: 4

BAD CHECK LAWS (CIVIL PENALTY)

  • N/A

GENERAL GARNISHMENT EXEMPTIONS

  • 100% of wages, certain pensions, retirement accounts & Keogh plan under certain circumstances, and $300.
rhode island

INTEREST RATE

  • Legal: 12%
  • Judgment: 12%

STATUTE OF LIMITATIONS (IN YEARS)

  • Open Account: 10
  • Written Contract: 10
  • Domestic Judgment: 20
  • Foreign Judgment: 20

BAD CHECK LAWS (CIVIL PENALTY)

  • Amount of check, $25 fee & treble damages up to $1000

GENERAL GARNISHMENT EXEMPTIONS

  • See federal law.
south carolina

INTEREST RATE

  • Legal: 8.75%
  • Judgment: 12.25% (Rate changes every year on January 15th. Wall Street Journal Prime plus 4%)

STATUTE OF LIMITATIONS (IN YEARS)

  • Open Account: 3
  • Sale of Goods (UCC): 6
  • Written Contract: 3
  • Domestic Judgment: 10
  • Foreign Judgment: 10
  • Written Contract under Seal: 20

BAD CHECK LAWS (CIVIL PENALTY)

  • Reasonable court costs, amount of check & damages up to $500 or 3 x check amount, whichever is greater.

GENERAL GARNISHMENT EXEMPTIONS

  • 100% – Garnishment not available in SC.
south dakota

INTEREST RATE

  • Legal: 12%
  • Judgment: 10%

STATUTE OF LIMITATIONS (IN YEARS)

  • Open Account: 6
  • Written Contract: 6
  • Sales of Goods: 4
  • Domestic Judgment: 10, renewable for 10
  • Foreign Judgment: 10

BAD CHECK LAWS (CIVIL PENALTY)

  • N/A

GENERAL GARNISHMENT EXEMPTIONS

  • 20% of the individuals disposable earnings for a continuing lien.
tennessee

INTEREST RATE

  • Legal: 10%
  • Judgment: 10% (or contract rate, whichever is greater)

STATUTE OF LIMITATIONS (IN YEARS)

  • Open Account: 6
  • Written Contract: 6
  • Domestic Judgment: 10
  • Foreign Judgment: 10

BAD CHECK LAWS (CIVIL PENALTY)

  • Treble damages up to $500 + 10% interest & reasonable service charges, attorney fees.

GENERAL GARNISHMENT EXEMPTIONS

  • See federal law. Add $2.50 per week for dependent child under 16.
texas

INTEREST RATE

  • Legal: 6%
  • Agreement: can charge up to 18%
  • No Agreement: statuory interest of 6% begins to run 30th day after becoming due
  • Judgment: 8.25% (effective 2007) Always consult cousel to charge interst – Texas has very onerous usury laws & penalties.

STATUTE OF LIMITATIONS (IN YEARS)

  • Open Account: 4
  • Written Contract: 4
  • Promissory Note: 6
  • Domestic Judgment: 10 Renewable
  • Foreign Judgment: 10 Renewable

BAD CHECK LAWS (CIVIL PENALTY)

  • N/A

GENERAL GARNISHMENT EXEMPTIONS

  • 100% of wages.
utah

INTEREST RATE

  • Legal: 10%
  • Judgment: 6.99%

STATUTE OF LIMITATIONS (IN YEARS)

  • Open Account: 4
  • Written Contract: 6
  • Domestic Judgment: 8
  • Foreign Judgment: 8

BAD CHECK LAWS (CIVIL PENALTY)

  • Certified statutory bad check notice must be set. Amount due, interest, court costs, reasonable attorney fees, plus damage equal to greater of $100 or 3x check amount (not to exceed check amount plus $500).

GENERAL GARNISHMENT EXEMPTIONS

  • $142.50 of disposable earnings for wages paid weekly.
vermont

INTEREST RATE

  • Legal: 12%
  • Judgment: 12%

STATUTE OF LIMITATIONS (IN YEARS)

  • Retail Installment Contracts: 4
  • Witnessed Promissory Note: 14
  • Open Account: 6
  • Written Contract: 6
  • Domestic Judgment: 8
  • Foreign Judgment: 8

BAD CHECK LAWS (CIVIL PENALTY)

  • Court costs, amount of check, attorney fees, damage of $50. (Notice required).

GENERAL GARNISHMENT EXEMPTIONS

  • $75% of earning above minimum wage or what is necessary to live. 85% if personal, family or house held debt.
virginia

INTEREST RATE

  • Legal: 6%
  • Judgment: 6%

STATUTE OF LIMITATIONS (IN YEARS)

  • Open Account: 3 (last charge or payment)
  • Written Contract: 5
  • Sales of Goods under Article 2: 4
  • Domestic Judgment: 20
  • Foreign Judgment: 10

BAD CHECK LAWS (CIVIL PENALTY)

  • Lesser of $250 or 3x check amount..

GENERAL GARNISHMENT EXEMPTIONS

  • See federal law.
washington

INTEREST RATE

  • Legal: 12%
  • Judgment: 12%

STATUTE OF LIMITATIONS (IN YEARS)

  • Open Account: 6
  • Written Contract: 6
  • Domestic Judgment: 10, renewable
  • Foreign Judgment: 10, renewable

BAD CHECK LAWS (CIVIL PENALTY)

  • Interest at rate specified in instrument or, if no specified rate, 12% interest plus collection costs up to $40. If taken to court, reasonable attorney fees, 3x value, or up to $300. Have 6 years to enforce a bad check.

GENERAL GARNISHMENT EXEMPTIONS

  • Greater of 75% or $154.50 week (30 x federal min. hourly wage).
west virginia

INTEREST RATE

  • Legal: 6% (contract rate prevails, and can vary between 18% and 31% max)
  • Judgment: 9.75% (changes each year based on a certain Federal rate)

STATUTE OF LIMITATIONS (IN YEARS)

  • Open Account: 5
  • Written Contract: 10
  • Domestic Judgment: 10
  • Foreign Judgment: 10

BAD CHECK LAWS (CIVIL PENALTY)

  • Amount due, service charge up to $10. If check is less than > $500.00 = misdemeanor. If check is greater than $500.00 = felony.

GENERAL GARNISHMENT EXEMPTIONS

  • See West VA code 38-5A-3-Employees withhold 20% of disposable income or 30 x the min. hourly rate, whichever is less. Other exemptions apply.
wisconsin

INTEREST RATE

  • Legal: 5%
  • Judgment: 12%

STATUTE OF LIMITATIONS (IN YEARS)

  • Open Account: 6
  • Written Contract: 6
  • Domestic Judgment: 20
  • Foreign Judgment: 20

BAD CHECK LAWS (CIVIL PENALTY)

  • Amount of check plus actual damages + exemplary damages up to 3x value of check, limited to $500.

GENERAL GARNISHMENT EXEMPTIONS

  • 80% of net pay.
wyoming

INTEREST RATE

  • Legal: 7%
  • Judgment: contract rate or 10% judgment rate

STATUTE OF LIMITATIONS (IN YEARS)

  • Open Account: 8
  • Written Contract: 10
  • Domestic Judgment: 5
  • Foreign Judgment: 5

BAD CHECK LAWS (CIVIL PENALTY)

  • 3x amount of check but not less than $100 plus collection fee of $30.

GENERAL GARNISHMENT EXEMPTIONS

  • See federal law for consumer credit sale, lease or loan. Up to 65% for child support arrearage.