Ohio Commercial Credit & Collection Information
INTEREST RATE
- Legal: 10%
(1343.01,1343.03)
- Judgment: 10%
(1343.01, 1343.2, 1343.03)
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 4
- Sales Contract
(UCC2-725)
- Written Contract: 15
- Domestic Judgment:
21 renew every 5
- Foreign Judgment: 21
renew every 5
BAD CHECK LAWS (CIVIL
PENALTY)
The greater of $200 or three times the amount of check and attorney fees
(no maximum) (Ohio Code 2307.61)
GENERAL GARNISHMENT
EXEMPTIONS
See federal law. Garnishment limited to once a month per employee.
COLLECTION AGENCY BOND
& LICENSE
- Bond: No
- License: No
- Fee: No
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