Oregon Commercial Collection Agency
Oregon, like other states, has statute of limitations and various other laws that help determine a deadline when it comes to filing a lawsuit or other civil actions. This page will provide information related to Oregon including: state economy, unemployment rate, state debt and statute of limitations. All information included is provided by recent case studies or other industry experts.
Statute of limitation laws are mandatory time limits that the legal system put into place to provide a general fairness and practicality when it comes to filing a lawsuit. Oregon’s statute of limitations can range from one to 12 years depending on the nature of the case. (FindLaw.com)
According to a report that was published in 2013, Oregon residents earned incomes that were at least 400 percent of the federal poverty level. The median annual household income during that time period was $54,066. In 2014, the unemployment rate was 7.1 percent, just 1.2 percentage points above the national average. (Ballotpedia.org)
In 2014, it was reported that Oregon had a state debt of roughly $86.7 billion. The state debt per capita was $22,229. This state debt was determined after reviewing four components: market-valued unfunded public pension liabilities, outstanding government debt, unfunded other post-employment benefit liabilities and outstanding unemployment trust fund loans. (Ballotpedia.org)
Prestige Services, Inc. (PSI) works to ensure quality debt collection that works within Oregon’s collection laws whether that means staying up to date on collection licenses, industry news, and economy data within the state.
SUMMARY OF OREGON COLLECTION LAWS*
Statutory + Judgment: 9% simple interest per annum (Unless specified by contract)l
STATUTE OF LIMITATIONS (IN YEARS)
Open Acct: 6 – Sale of Goods 6 (4 yrs UCC Transaction) – Written Contract 6 – Domestic Judgment 10 renewable at 10 – Foreign Judgment 10
BAD CHECK LAWS (CIVIL PENALTY)
Can recover reasonable attorney fees & statutory damages of three times the amount of the NSF check or $500 maximum if demand letter is sent to debtor 30 days before suit is filed.
GENERAL GARNISHMENT EXEMPTIONS
75% of disposable earnings over and above minimum wage
* 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.
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