Credit Collection Information by State
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Wisconsin Commercial Credit & Collection Information
INTEREST RATE
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 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
three times value of check. Limited to $500.
(See
Wisconsin Code
943.245)
GENERAL GARNISHMENT
EXEMPTIONS
80% of net pay.
COLLECTION AGENCY BOND
& LICENSE
- Bond: $15,000 min.
- License: Yes
-
Fee:
(Wisconsin Code 218.4)
- $1000 or more -
Investigation
- $200 - Annual
- $15 per collector/solicitor license
- Exemption for
out-of-state collectors: Out-of-state agencies do not need to be
licensed if [1] collecting by interstate means (phone, fax, mail); and
[2] collecting for an out-of-state client.
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