Credit Collection Information by State
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Massachusetts Commercial Credit & Collection Information
INTEREST RATE
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct. on
Contract: 6
- Contract: 6
- Sales (UCC)
Contract: 4
- Domestic Judgment:
20 (presumed satisfied after 20 years)
- Foreign Judgment: 20
- Contracts Under
Seal: 20
BAD CHECK LAWS (CIVIL
PENALTY)
- Amount due, costs of
suit, protest fees
- $100 - $500 can be
assessed.
GENERAL GARNISHMENT
EXEMPTIONS $125 week
COLLECTION AGENCY BOND
& LICENSE
-
Bond: $10,000 -
$25,000
- License: Yes
-
Fee: Determined by
commissioner annually
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