West Virginia Commercial Credit & Collection Information
INTEREST RATE
-
Legal: 6% (47-6-5, 4706-5b)
-
Judgment: 10%
(56-6-31)
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 5
- Written Contract: 10
- Domestic Judgment:
10
- Foreign Judgment: 10
BAD CHECK LAWS (CIVIL
PENALTY)
less of face or $500, plus
reasonable costs
GENERAL GARNISHMENT
EXEMPTIONS
See West VA code 38-5A-3-Employees withhold 20% of disposable income or
30x the minimum hourly rate, whichever is less. Other exemptions apply.
COLLECTION AGENCY BOND
& LICENSE
- Bond: $5,000
per branch
- License: Yes - Franchise Reg. Cert.
- Fee: $15 Annual
- Exemption for
out-of-state collectors: Contact state authorities. Some out-of-state
agencies may be exempt if they are only collecting for out-of-state
clients.
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