Delaware Commercial Collection Agency
For people living within Delaware, laws and statutes of limitations are maintained to protect debtors and to ensure the debt collection process is smooth and lawful. Our goal at Prestige Services, Inc., is to provide Delaware residents and other interested individuals with a collection of informative collection law and economy statistics within the state. This information includes: statute of limitations, interest rates, collection agency bond/license data, and state debt and spending factors.
From 2004 to 2014, Delaware has maintained the highest available credit rating score of AAA. This rating takes into account Delaware’s ability to pay debts, and the general performance and health of the state’s economy. This credit rating also might be influenced by the fluctuation of Delaware’s population (935,900 in 2014 to 897,900 in 2016), the state’s spending budget, and overall state debt. In 2012, the state debt was almost $16 billion, with a per capita debt of $17,400 and ranking of 17. (BallotPedia.org)
Like with many other U.S. states, Delaware has a Fair Debt Collection Practices Act, set in place to require mercantile or collection agencies to obtain licenses to investigate financial or credit ratings, or collect commercial accounts for creditors (Fair-Debt-Collection.com). The only way past this law is for attorneys-at-law, who have to obtain licenses in order to practice in Delaware. Whether it’s staying up-to-date on collection licenses, industry news, or Delaware economy, Prestige Services, Inc., works to ensure quality debt collection for both debtors and creditors.
SUMMARY OF DELAWARE COLLECTION LAWS*
INTEREST RATE
Legal + Judgment -Federal Reserve Discount Rate Plus 5% Points
STATUTE OF LIMITATIONS (IN YEARS)
Sale of Goods: 4 – Open Acct.: 4 – Written Contract 3 – Domestic Judgment No provision – Foreign Judgment No provision
BAD CHECK LAWS (CIVIL PENALTY)
Amount due, cost of suit, protest tees
GENERAL GARNISHMENT EXEMPTIONS
85% of disposable earnings or disposable earnings minus 127.50 weekly according to schedule.
COLLECTION AGENCY BOND & LICENSE
Bond: No – License: Merc. License – Fee: $50 Yearly
* 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.
