Wisconsin Commercial Collection Agency
Like any other state in the United States, Wisconsin has statutes of limitations and various other laws that determine a deadline for filing lawsuits or other civil actions. This page will provide readers with information related to Wisconsin including: state economy, unemployment rate, state debt and other laws. All of the information included is provided by recent case studies and other credible industry experts. According to a report that was published in January 2014, the state of Wisconsin had a state debt of $45 billion. The state debt per capita was $7,863. 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 September 2015, Wisconsin was ranked the 23rd best in the country in “tax 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 $8.1 billion in unfunded and promised retirement benefits, Wisconsin’s taxpayer burden was projected at $4,100. (Ballotpedia.org) In 2013, it was reported that Wisconsin had the lowest amount of residents fall below the federal poverty level at eleven percent when compared to surrounding states. The state’s median annual household income between 2011 and 2013 was just over $54,000. In September 2014, Wisconsin had an unemployment rate of five and a half percent. Statute of limitation laws are put in place by the legal system to provide a general fairness and prudence when it comes to filing a lawsuit. Wisconsin’s statute of limitations can range from two to six years depending not the nature of the case. (FindLaw.com) Prestige Services, Inc. (PSI) works to ensure quality debt collection that works within Wisconsin’s collection laws whether that means staying up to date on collection licenses, industry news, and economy data within the state. Check Laws by Cities in WisconsinSUMMARY OF WISCONSIN COLLECTION LAWS*
INTEREST RATE Legal: 5% – Judgment 12% STATUTE OF LIMITATIONS (IN YEARS) Open Acct: 6 – Written Contract 6 – Domestic Judgment 20 – Foreign Judgment 20 BAD CHECK LAWS (CIVIL PENALTY) Amount of check plus actual damages + exemplary damages up to three times value of check. Limited to $300 GENERAL GARNISHMENT EXEMPTIONS 80% of net pay * 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.
