Hawaii Commercial Collection Agency
Like most U.S. states, Hawaii has a number of collection laws and statutes of limitations that coincide with the national Fair Debt Collection Practices Act (FDCPA), to protect resident debtors from potential harassment from creditors and unlawful debt collectors. This page presents an assortment of collection laws and economy statistics in Hawaii, including: civil penalties, interest rates, statutes of limitations, general garnishment exemptions, required collection agency bond and licenses, and Hawaii spending/debt data history.
In 2015, Hawaii’s population was 1.4 million residents with a per capita spending value at $8,400. This coincides with the overall state spending for 2015 at $12.1 billion, which was up 2.6% from $11.8 billion in 2014. According to BallotPedia.org, 2015 state funds included $9.8 billion of that, with federal funds at $2.2 billion. The 2013 median household income in Hawaii was $60,800, no doubt contributing to the increase in state spending over the next couple of years. For 2012, Hawaii debt was at $46.1 billion, with per capita debt at $33,111 and a ranking of 2. Hawaii’s credit ranking has improved slightly since its AA- ranking in 2006: from 2007 – 2014 it had a ranking of AA. (BallotPedia.org).
Regarding collection laws and acts, Hawaii has a Collection Agencies Act which specifically exempts attorneys, salespersons, real estate brokers, financial institutions, and in-house employees from collecting debt of the employer and public offices from its reach (GovCollect.org). All debt collection agencies that collects from Hawaii residents must be registered and compliant with the Department of Commerce and Consumer Affairs, as well as Hawaii’s laws and rules.
SUMMARY OF HAWAII COLLECTION LAWS*
Legal: 10% – Judgment 10% (no written contract)
STATUTE OF LIMITATIONS (IN YEARS)
Sale of Goods: 4 – Open Acct: 6 – Written Contract 6 – Domestic Judgment 10 – Foreign Judgment 6 for regis./10 after regis.
BAD CHECK LAWS (CIVIL PENALTY)
Damages equal to $100 or triple amount of check, not to exceed $500.
GENERAL GARNISHMENT EXEMPTIONS
95% of 1St $100 – 90% of 2nd $100 – 80% net wages in excess of $200 per mo. or federal limits whichever is greater.
COLLECTION AGENCY BOND & LICENSE
Bond: $25,000/$15,000 each branch – License: Registration with “DCCA” – Fee: $25- Application – $80- Registration $80 – Renewal – $50- Compliance = $155 for 2 years
* 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.
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