|Rapid Recovery Locations|
Bentonville, AR 72712
||Arkansas Collection Laws
The following is a summary of the Arkansas Collection Laws. The information here may not be 100% accurate and should not to be construed as legal advise. We make no warranty, express or implied concerning any information contained on this Arkansas Collection Laws page, and we assume no liability for its use.
Arkansas Collection Laws Interest Rate
Legal: 6% or 5 points above the Federal discount rate
Judgment: Contract rate or 10% per annum whichever is greater
Arkansas Collection Laws Statute Of Limitations (Years)
Open account: 3
Written Contract: 5 (partial payment stops the statute from running)
Sale of Goods: (UCC-2) - 4
Domestic Judgment: 10 - Renewable
Foreign Judgment: 10
Arkansas Collection Laws Bad Check Laws (NSF) (Civil Penalty)
Twice amount of check - prior to double charge - can start out with $15 charge per NSF check after 30 days.
Arkansas Collection Laws General Garnishment Exemptions
$500 head of family; $200 single. Includes personal property except clothing.
Arkansas Collection Laws Collection Agency Bond & Licensing Rules
Bond: $5000 to $25000
Fee: $125 - $5 each employee
Rapid Recovery hopes that this information assists you in finding a Arkansas Collection Agency and researching Arkansas collection laws.