Washington Commercial Credit & Collection Information
INTEREST RATE
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 3
- Written Contract: 6
- Domestic Judgment:
10
- Foreign Judgment: 10
BAD CHECK LAWS (CIVIL
PENALTY)
Reasonable attorney's fees, 3 x value, or up
to $300.
GENERAL GARNISHMENT
EXEMPTIONS
Greater of 75% or $64 wk. (40 x state min. hourly wage).
COLLECTION AGENCY BOND
& LICENSE
-
Bond: $6000 general,
$4000 specialty
- License: Yes
-
Fee:
Determined by Director
- Exemption for
out-of-state collectors: Contact state authorities. Out-of-state
agencies may qualify for lesser licensing fees. Out-of-state
collectors are no longer required to have resident office and instate
trust accounts if they don't have instate client. Bond is not required
if held in home state.
*Community Property State
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