Commercial Debt Collection in Long Beach
Located within the Los Angeles metropolitan area, Long Beach is a waterfront community that is known for its beauty and long list of attractions. The city’s economy is mainly made up of jobs in education, government and healthcare. Sports are also a big part of the local economy and culture. Long Beach is the home to the beloved Long Beach State college baseball team and the city hosts the Grand Prix of Long Beach Indy Car race.
Types of Debt in Long Beach
Long Beach and the state of California are known to be an expensive place to live, and this has a direct effect on the amount of debt residents have. According to Lendingtree.com, California is number one in the country for the highest amount of mortgage debt with $55,920 per capita. The state also struggles with credit card debt, coming in at number nine nationally with $3,610 per capita.
In California the interest rate for debt that is collected is 10% for legal and 10% for judgement. To learn more facts about commercial debt collection in Long beach and the state of California visit our page dedicated to California Commercial Debt Collection Laws or contact us today.