Located in the southeastern side of California is Riverside, a city with a population of almost 315,000 (2020). Riverside, which covers approximately 81 square miles of land, is part of the Greater Los Angeles area and sits as the 12th most populated city in California.

Commercial Debt Collection Laws

For businesses in Riverside, the legal and judgment interest rate is 10 percent and the Statute of Limitations for business debt cases include:

• Open Accounts (reduced to writing): 4 years
• Open Accounts (no writing): 2 years
• Written Contracts: 4 years
• Domestic Judgments: 10 years (renewable at 10)
• Foreign Judgments: 10 years

Visit the California Laws page for more information on state’s commercial debt collection laws.

 

History of Riverside

Before it was incorporated into California and the United States, the Cahuilla and Serrano people inhabited the area that would become Riverside. In the later part of the 19th century, much of California (including parts of the Riverside area) was developed into ranches to promote the area’s development.

In 1871, the first set of orange trees were planted in the city, which would help push Riverside into the citrus industry. Due to the rich climate, the navel orange industry grew in southern California. By the time Riverside was incorporated in 1883, the city had grown in popularity and agricultural influence.

Riverside Economy

When Riverside first began, it was instrumental in California’s citrus and agriculture growth. In the 20th century, Riverside’s economy spread to the manufacturing of automotive parts, aircraft components, gas cylinders, food products and more. The city also expanded with several industrial parks and areas, such as the Hunter Industrial Park and the Airport Industrial Areas.

As of 2018, Riverside’s top employers are:

• County of Riverside: 11,865 employees
• University of California (Riverside): 8,686
• Riverside Unified School District: 4,000
• Kaiser Permanente: 3,484
• City of Riverside: 2,504
• California Baptist University: 2,285
• Riverside Community Hospital: 2,200
• Alvord Unified School District: 1,800
• UTC Aerospace Systems: 1,200
• Parkview Community Hospital: 897

 

Over the years, Riverside has developed a variety of cultural museums, and established several festivals and events. Popular area museums and festivals include:

• California Citrus State Historic Park Museum
• Heritage House Museum
• March Field Air Museum
• Sherman Indian Museum
• The Cheech Marin Center for Chicano Art, Culture & Industry
• Riverside Airshow
• Riverside Dickens Festival
• Riverside Festival of Lights

Contact Prestige Services, Inc.

For the fourth consecutive year, Prestige Services, Inc., has been named the best B2B Collection Agency of the year. Our exceptional services include free quotes, skip tracing, post-judgment collections, final-notice forms, and pre-collection services.

If you’re interested in any B2B debt collection services with Prestige Services, Inc., contact us by phone at (800) 523-2797, by email, or by contact form.