Wyoming Commercial Collection Agency
Just like any other state in the United States, Wyoming has statutes of limitations and various other laws that determine proper deadlines for filing lawsuits and other civil actions. This page will provide readers with information related to the state of Wyoming, including: state economy, unemployment rate, state debt and statute of limitations laws. All of the information included is provided by recent case studies and other credible resources.
In January 2014, the state of Wyoming had a state debt of roughly $10 billion dollars. The state debt per capita was $17,265. This state debt report was calculated based on market-valued unfunded public pension liabilities, outstanding government debt, unfunded other post-employment benefit (OPEB) liabilities, and outstanding unemployment trust fund loans. In 2015, Wyoming was ranked as the 3rd best in the country in “taxpayer burden,” a term used when describing the dollar amount each taxpayer would have to send to their state’s treasury for the state to become debt free. With a state surplus of almost $5 billion in unfunded and promised retirement benefits, Wyoming’s taxpayer burden was projected at $22,600. (Ballotpedia.org)
When it comes to Wyoming’s economic health, the median annual income was higher between 2011 and 2013 than the national average. In 2014, its unemployment rate was at 4.7 percent and was significantly lower than the national average. Despite it being lower than the national average, it was the highest unemployment rate among surrounding states. (Ballotpedia.org)
Statute of limitations laws are the legal system’s approach to providing a general fairness and prudence when it comes to filing a lawsuit. Wyoming’s statute of limitations can range from one to five years depending on the type of case. (FindLaw.com)
Prestige Services, Inc. (PSI) works to ensure quality debt collection that works within Wyoming’s collection laws whether that means staying up to date on collection licenses, industry news, and economy data within the state.
SUMMARY OF WYOMING COLLECTION LAWS*
Legal: 7% – Judgment contract rate or 10% judgment rate
STATUTE OF LIMITATIONS (IN YEARS)
Open Acct: 8 – Written Contract 10 – Domestic Judgment 5 – Foreign Judgment 5
BAD CHECK LAWS (CIVIL PENALTY)
Three times amount of check but not less than $100 plus collection fee of $30
GENERAL GARNISHMENT EXEMPTIONS
See federal law for consumer credit sale, lease or loan. Up to 65% for child support arrearage.
* 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.
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