Alabama Commercial Collection Agency
All states in the United States, including Alabama, have statutes of limitations and other laws that set deadlines for filing lawsuits and other civil actions (FindLaw.com). This page is dedicated to providing information on Alabama, including: state economy, interest rate, statute of limitations, bad check laws, and other collection laws. All information is provided by the most up-to-date studies and other resources, in order to maintain clarification of Alabama’s most recent economy and debt-related statistics.
According to the United States Census Bureau, the Alabama population is at an incredible 4.8 million people. In 2012, Alabama had a state debt of $68 billion and the state debt per capita was $14,173. This is based on outstanding government debt, unfunded other post-employment benefit, liabilities, outstanding unemployment trust fund loans. In 2015, Alabama was ranked the 15th worst country in “taxpayer burden,” a term used to describe the amount each taxpayer would have to send to their state’s treasury in order for the state to be debt free. With more than $17 billion in unfunded and promised retirement benefits, the expected taxpayer burden in Alabama is $13,400. (Ballotpedia.org)
Alabama’s 2012 per capita debt ranking was 26: as this ranking persists or changes, the state needs quality debt collection agencies to ensure creditor companies receive the attention they deserve, and that debtors are held accountable for their financial actions. Prestige Services, Inc. (PSI) works to ensure quality debt collection that works within Alabama’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 Alabama
SUMMARY OF ALABAMA COLLECTION LAWS*
INTEREST RATE
Legal: 6% – Judgment 12%
STATUTE OF LIMITATIONS (IN YEARS)
Open Acct: 3 – Written contract 6 – Domestic Judgment 20 – Foreign Judgment 20
BAD CHECK LAWS (CIVIL PENALTY)
Actual Bank charges
GENERAL GARNISHMENT EXEMPTIONS
75% of wages are exempt from garnishment
COLLECTION AGENCY BOND & LICENSE
Bond: No – License: No – Fee: $25 if the Population is under 20,000 or $100 if the Population is over 20,000
* 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.
