Oregon Commercial Credit & Collection Information

INTEREST RATE

• Legal: 9%
• Judgment: 9% simple interest per annum (Unless specified by contract)

STATUTE OF LIMITATIONS (IN YEARS)

• Open Acct.: 6
• Sale of Goods: 6 (4 yrs UCC Transaction)
• Written Contract: 6
• Domestic Judgment: 10 - Renewable at 10
• Foreign Judgment: 10

BAD CHECK LAWS (CIVIL PENALTY)
Reasonable attorney fees & statutory damages of (the  greater of) $100 or three times the amount plus $500

GENERAL GARNISHMENT EXEMPTIONS
75% of disposable earnings or 40 x fed. min. hourly wage.

COLLECTION AGENCY BOND & LICENSE

• Bond: $10,000 or letter of irrevocable credit
• License: Registration only
• Fee: Established by director
• Exemption for out-of-state collectors: Contact state authorities. Out-of-state agencies may be exempt if [1] collecting for out-of-state client; [2] the debt was incurred by an Oregonian outside the state; and [3] the state where the collection agency is headquartered has a registration program comparable to Oregon's law.

Hampton Associates, Inc.- Your commercial collection agency solution