Pennsylvania Commercial Collection Agency
Like other states in the United States, Pennsylvania, 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 Pennsylvania 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. Pennsylvania’s statute of limitations can range from one to 21 years depending on the nature of the lawsuit. (FindLaw.com)
The median annual income for Pennsylvania in 2013 was $52,481. The state’s unemployment rate was 5.7 percent, similar to the national average during that time. Many of Pennsylvania’s residents earned incomes above 400 percent of the federal poverty level. (Ballotpedia.org)
In 2014, it was reported that Pennsylvania had a state debt of approximately $184.9 billion. The state debt per capita was $14, 487. 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)
In September 2015, Pennsylvania was ranked as the 11th worst in the country in “taxpayer burden,” a term used when describing how much money each taxpayer would need to send to their state’s treasury office in order for the state to become debt-free. In 2015, the taxpayer burden in Pennsylvania was $15,600. (Ballotpedia.org)
Prestige Services, Inc. (PSI) works to ensure quality debt collection that works within Pennsylvania’s collection laws whether that means staying up to date on collection licenses, industry news, and economy data within the state.
Check Laws by Cities in Pennsylvania
SUMMARY OF PENNSYLVANIA COLLECTION LAWS*
INTEREST RATE
Legal: 6% – Judgment 6%
STATUTE OF LIMITATIONS (IN YEARS)
Open Acct: 4 – Written Contract 4 – Domestic Judgment 5 (writ of revival within 5 yrs) – Foreign Judgment 4
BAD CHECK LAWS (CIVIL PENALTY)
N/A
GENERAL GARNISHMENT EXEMPTIONS
100% of wages, certain pensions, retirement accounts & Keogh plan under certain circumstances and $300
* 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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