
| Rapid Recovery Locations |
| Franklin Franklin, TN 37067 Memphis Memphis, TN 38137 |
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Tennessee Collection Laws The following is a summary of the Tennessee 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 Tennessee Collection Laws page, and we assume no liability for its use. Tennessee Collection Laws Interest Rate Legal: 10% Judgment: 10% (or contract rate) (varies with type of transaction) Tennessee Collection Laws Statute Of Limitations (Years) Open account: 6 Written Contract: 6 Domestic Judgment: 10 Foreign Judgment: 10 Tennessee Collection Laws Bad Check Laws (NSF) (Civil Penalty) Treble damages up to $500 + 10% interest & reasonable service charges, atty.'s fees, & court costs Tennessee Collection Laws General Garnishment Exemptions See federal law. Add $2.50 per week for dependent child under 16 Tennessee Collection Laws Collection Agency Bond & Licensing Rules Bond: $15,000 1-4 employees, $20,000 5-9 employees, $25,000 10 or more employees License: Yes Fee: $600 - Original, $350 - Renewal, $25 - Each Solicitor Rapid Recovery hopes that this information assists you in finding a Tennessee Collection Agency and researching Tennessee collection laws. |