Hampton Associates, Inc. Commercial Collection Agency  
  Phone: (877) 862-6340, Fax: (877) 862-6336

Credit Collection Information by State

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Tennessee Commercial Credit & Collection Information

INTEREST RATE

  • Legal: 10% (47-14-103)
  • Judgment: 10% (or contract rate) (varies with type of transaction) (47-14-121)

STATUTE OF LIMITATIONS (IN YEARS)

  • Open Acct.: 6
  • Written Contract: 6
  • Domestic Judgment: 10
  • Foreign Judgment: 10

BAD CHECK LAWS (CIVIL PENALTY)
 

  • If fraudulent intent: Treble damages up to $500

  • Otherwise 10% interest & reasonable service charges, atty.'s fees, & court costs.              

  •  (Tennessee Code 47-29-101)

GENERAL GARNISHMENT EXEMPTIONS
See federal law. Add $2.50 per wk. for dependent child under 16.

COLLECTION AGENCY BOND & LICENSE

  • Bond: (TN Code 62-20-106)
    • $15,000 1-4 employee
    • $20,000 5-9 employee
    • $25,000 10 or more
  • License: Yes
  • Fee: Yes, Determined by board (TN Code 62-20-109)
  • Exemption for out-of-state collectors: Contact state licensing authority. Out-of-state agencies may be exempt if they [1] maintain office in another state; [2] resides in a state that provides reciprocity; and [3] comply with provisions of licensing.

Hampton Associates, Inc.- Your commercial collection agency solution

Hampton Associates, Inc. 2003, 2004 Site Map