Credit Collection Information by State
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Indiana Commercial Credit & Collection Information
INTEREST RATE
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 6
- Written Contract for
payment of money
- (executed before
9/l/82): 10
- (executed after
8/31/82): 6
- Written Contract
(other than payment of money): 10
- Written Contract for
sale of goods: 4
- Domestic Judgment:
- 10 on real estate
- 20 against the
person
- Foreign Judgment: 10
BAD CHECK LAWS (CIVIL
PENALTY)
Triple check amount up to $500 over check amount,
GENERAL WAGE
GARNISHMENT EXEMPTIONS
75% of disposable earnings for work week or the amount of 30 x fed. min.
hourly wage, whichever is greater.
COLLECTION AGENCY BOND
& LICENSE
- Bond: $5000 each
office
- License: Yes
- Fee:
- $100 plus $5 per
annum, each unlicensed employee
- $30 branch office
- $80 - Renewal
- Exemption for
out-of-state collectors: Out-of-state collectors are exempt from
licensing if [1] collecting for a nonresident creditor; and [2]
collection activities limited to interstate communications (phone,
fax, mail).
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