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California Commercial Collection Agency

California has made its name as one of leading U.S. states with the best economy. In recent years, it’s become one of the best places to live in the world. With a population of almost 40 million people and a large yearly tourist count, it’s not a surprise that California has significantly more spending and debt numbers than many surrounding states. With the growth in debt, California lawmakers have worked to develop complex collection and community property laws. This page is meant to help residents, tourists, and other people in and around California learn the different aspects of California debt collection laws.

Spending in California jumped from almost $211 billion in 2014 to $252.6 billion in 2015. Not only this, but state funds were $158 billion, with federal funds at $93 billion, and per capita spending at least $6,400. State debt has been even more significant: in 2012, state debt was $777 billion and per capita debt was more than $20,000, earning the California per capita ranking of 9 (BallotPedia.org).

Regarding debt collection in California, there are a few interesting laws in place to protect debtors and creditors. In order to make a written statement in California, debt buyers must provide a variety of important information including: an accurate account of the balance of a debt at charge-off, the nature and reason for any post-charge-off interest and fees, the date the account went into default (or of last payment), and the name and address of the original lender/creditor (Credit.com). Since 2013, debt buyers have been prohibited from filing collection lawsuits on debts past the statute of limitations. For additional information on California collection data, please see the below summary.

At Prestige Services, Inc., we hope to provide you with the most informative California collection information and laws.

SUMMARY OF CALIFORNIA COLLECTION LAWS*

CALIFORNIA HAS COMMUNITY PROPERTY LAWS

INTEREST RATE
Legal: 10% – Judgment 10% (Unless otherwise contracted)

STATUTE OF LIMITATIONS (IN YEARS)
Open Acct: Reduced to writing – 4 – Open Acct: No writing – 2 – Written Contract 4 – Domestic Judgment 10 (renewable at 10)
– Foreign Judgment 10 (commencing with judgment debtor’s commencement of CA residence)

BAD CHECK LAWS (CIVIL PENALTY)
Amount due, Treble damages – minimum $100 maximum $1500 per check

GENERAL GARNISHMENT EXEMPTIONS
See federal law. Exemptions for necessities of life.

COLLECTION AGENCY BOND & LICENSE
No license or bond required.

* These are not comprehensive statutes and therefore PSICollect.com and Prestige Services, Inc. disclaims any liability resulting from reliance by any party upon the legality and accuracy of the contents thereof.

Below is a list of the states in the US that we cover.
We are a nationwide operation and service all states, as well as Canada & Mexico.

Alabama
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
District of Columbia
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Washington
West Virginia
Wisconsin
Wyoming
Puerto Rico

We are an international collection agency and service the entire U.S. as well as foreign countries. In addition, we represent clients from any country outside the U.S. Let us know how we can help you today! Contact us here »