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Connecticut Commercial Collection Agency

In Connecticut, residents with debt are protected with a variety of Connecticut laws and statutes of limitations, to regulate how creditors and debt collectors pursue lawsuits and debt collection. At Prestige Services, Inc., our goal is to provide you with helpful Connecticut economic data and collection laws, including: statute of limitations, interest rates, collection agency bond/license data, and state debt and spending factors.

In an attempt to combat debt and successfully fund aspects in Connecticut, lawmakers and public officials are elected to manage the state’s budget and finances. Between 2014 and 2015, total Connecticut spending increased from $26.3 billion to $27.7 billion. Of the $27.7 billion, state funds counted for approximately $21.7 billion and federal funds included almost $6 billion. The average person in Connecticut spent about $7,700 in 2015. (BallotPedia.org)

Although Connecticut debt numbers haven’t been updated since 2012, its numbers represent similar data in recent years, as well as the consistent implementation of state debt collection laws and statutes of limitations. State debt in 2012 was more than $112 billion, with a per capita debt of $31,200 and earning a per capita debt ranking of 3. Despite this per capita debt in 2012, the Connecticut credit rating has been AA from 2004 – 2014. (BallotPedia.org)

There are several collection acts in place to protect residents in and around Connecticut. One important law is the Creditor’s Collection Practices Act, which prohibits creditors from engaging in abusive, harassing, fraudulent, deceptive, or misleading debt collection practices. If a creditor happens to violate the Creditor’s Collection Practices Act, debtors can file a lawsuit in Connecticut against the creditor, which might award debtors with actual damages, additional damages at most $1,000, and any attorney’s fees and court costs (Nolo.com).

SUMMARY OF CONNECTICUT COLLECTION LAWS*

INTEREST RATE
Legal: 8% – Judgment 10%

STATUTE OF LIMITATIONS (IN YEARS)

Open Acct: 6 – Written Contract 6 – Oral Contract 3 – Domestic Judgment 20/25 – Small Claims Judgment 10/15 – Foreign Judgment
20

BAD CHECK LAWS (CIVIL PENALTY)
Personal liability of signatory on corporate claims unless signed in corporate capacity.

GENERAL GARNISHMENT EXEMPTIONS
25% you may garnish disposable earnings each week, or 40 x fed. mm. hourly wage, whichever is less.

COLLECTION AGENCY BOND & LICENSE
Bond: $5000 – License: Yes – Fee: $200 Yearly $50 Investigation

* 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 »

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