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Florida Commercial Collection Agency

Like most U.S. states, Florida has a number of laws and statutes of limitations created to protect resident creditors and debtors in the debt collection process. This page is meant to provide you with a collection of informative collection laws and Florida economy statistics, including: state spending/debt factors, interest rates, collection agency bond/license data, statutes of limitations, Florida’s credit rating history, and civil penalties involved with the debt collection process.

Why is Florida’s economy statistics important? Giving a little history of Florida’s budget and financial history provides valuable information to residents about how the state performs economically. For instance, state spending jumped from $66.5 billion in 2014 to $75.5 billion in 2015. This represents an 11% increase in a year, which may influence the state’s debt and credit aspects, and how collection laws are created and maintained. Of the $75.5 billion in total 2015 spending, $50 billion was from state funds and $25.5 billion represented federal funds. This equates to a per capita spending of $3,724. (BallotPedia.org)

Regarding debt (2012), in Florida it was almost $198 billion and the per capita debt was $10,243, leaving the per capita debt ranking as 43. According to BallotPedia.org, Florida’s credit rating maintained an AAA rating from 2005 – 2014. For state residents who have debt, Florida has enacted additional laws that enhance the national Fair Debt Collection Practices Act (FDCPA). Florida’s Consumer Collection Practices Act (FCCPA) further protects debtors from abusive debt collection practices and covers original creditors (Nolo.com).

Florida’s FCCPA specifically prohibits a specific list of debt collection practices it considers harassment, fraudulent, and deceptive. This list includes: pretending to be a police officer or government agency representative, using/threatening force or violence, filing a lawsuit against you in the wrong court venue, communicating directly with you while knowing you are represented by an attorney (Nolo.com). If debt collectors violate Florida’s FCCPA, they are subject to several damages, fees, and court costs. Prestige Services, Inc., values the FCCPA and FDCPA, and works to make the debt collection process lawful and successful for creditors and debtors.

SUMMARY OF FLORIDA COLLECTION LAWS*

INTEREST RATE
Legal: 10% – Judgment 10% or contractual

STATUTE OF LIMITATIONS (IN YEARS)
Open Acct: 4 – Written Contract 5 – Domestic Judgment 7 Renewable – Foreign Judgment Sit not recorded in-state

BAD CHECK LAWS (CIVIL PENALTY)
After 30 day demand-treble amount in addition to amount owed, bank & court costs & reasonable attorney fees.

GENERAL GARNISHMENT EXEMPTIONS
See federal law except 100% head of household. – Liberal Homestead Exemption – 1st $1,000 of automobile.

COLLECTION AGENCY BOND & LICENSE
Bond: Yes – $50,000 (Commercial) – License: Yes – Fee: Yes – $200 – Registration / $50 – Investigation $200 – Renewal

* 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 »