
| Rapid Recovery Locations |
| Chicago Chicago, IL 60602 Chicago, IL 60611 Chicago, IL 60601 Chicago, IL 60631 Chicago, IL 60666 Chicago, IL 60018 Chicago, IL 60603 Chicago, IL 60606 Deerfield Deerfield, IL 60015 Lisle Lisle, IL 60532 Northbrook Northbrook, IL 60062 Oak Brook Oake Brook, IL 60523 Oak Brook Terrace, IL 60181 Park Ridge Park Ridge, IL 60068 Schaumburg Schaumburg, IL 60008 Schaumburg, IL 60173 St. Charles St. Charles, IL 60174 Warrenville Warrenville, IL 60555 Westchester, IL 60154 |
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Illinois Collection Laws The following is a summary of the Illinois 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 Illinois Collection Laws page, and we assume no liability for its use. Illinois Collection Laws Interest Rate Legal: 5% Judgment: 9% Illinois Collection Laws Statute Of Limitations (Years) Sales (UCC): 4 Open account: 5 Written Contract: 10 Domestic Judgment: 20 Foreign Judgment: Same as foreign jurisdiction Illinois Collection Laws Bad Check Laws (NSF) (Civil Penalty) Triple check amount up to $500, attorney fees & court costs Illinois Collection Laws General Garnishment Exemptions 15% of gross wages or disposable earnings for workweek up to 45 x Federal minimum hourly wage, whichever is greater Illinois Collection Laws Collection Agency Bond & Licensing Rules Bond: $25,000 License: Yes Fee: $750 - Original $750 - Renewal Exemption for out-of-state collectors: Out-of-state collectors may be exempt if [1] not soliciting accounts in Illinois; [2] their state of residence has laws which provide similar reciprocity (allow out-of-state agencies to collect only); and [3] the state in which the non-Illinois agency resides extends the same privileges to out-of-state agencies. Rapid Recovery hopes that this information assists you in finding a Illinois Collection Agency and researching Illinois collection laws. |