New York Commercial Credit & Collection Information
INTEREST RATE
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 6
- Written Contract: 6
- Domestic Judgment:
20 (1 0 yr. renewable lien)
- Foreign Judgment: 20
(1 0 yr. renewable lien)
BAD CHECK LAWS (CIVIL
PENALTY)
Face value of check plus two times check amount up to a maximum of $400
on NSF or $750 on "no account" (Demand prescribed by law). GEN.OB.24A:11.1-104
GENERAL GARNISHMENT
EXEMPTIONS
90% of earnings, except 1st $127.50 wk. wholly exempt.
COLLECTION AGENCY BOND
& LICENSE
- Bond: No
- License: No
- Fee: No
- Buffalo: $5,000 Bond
- $50 fee
- NYC: License - $150
- 2 yr. fee
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