Utah Commercial Collection Agency
Utah, 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 Utah including: state economy, unemployment rate, state debt and statute of limitations. All information included is provided by recent case studies or other credible resources.
Statute of limitation laws are mandatory time limits that the legal system puts into place to provide a general fairness and practicality when it comes to filing a lawsuit. Utah’s statute of limitations can range from one to eight years depending on the nature of the crime and who the lawsuit includes. In Utah, it is possible to have the time period extended. The time period could be extended based on “tolling,” a legal term used when someone is under the age of majority, 18 years old in Utah, or has a mental disability. If an individual suffers from a severe mental illness for many years and was harmed during this time, it is viewed as unfair to expect the individual to have the mental capacity to issue a lawsuit. (FindLaw.com)
According to a report that was published 2014, Utah had a state debt of approximately $35.7 billion. The state debt per capita was $12,513. In 2015, Utah was named the 4th best in the country in “taxpayer surplus,” a term that is used to describe the amount each tax payer would receive if the state were to disburse its excess funds. With the number of unfunded retirement benefits included in the total debt, Utah’s state surplus climbed to $3.3 billion, a taxpayer surplus of $4,200. (Ballotpedia.org)
In 2014, Utah had the lowest unemployment rate among is surrounding states at three and a half percent. Utah also had the lowest portion of residents that earned incomes below 100 percent of the federal poverty level. The median annual household income for Utah residents was $60,053. (Ballotpedia.org)
Prestige Services, Inc. (PSI) works to ensure quality debt collection that works within Utah’s collection laws whether that means staying up to date on collection licenses, industry news, and economy data within the state.
SUMMARY OF UTAH COLLECTION LAWS*
Legal: 10% – Judgment 3.41%
STATUTE OF LIMITATIONS (IN YEARS)
Open Acct: 4 – Written Contract 6 – Domestic Judgment 8 – Foreign Judgment 8
BAD CHECK LAWS (CIVIL PENALTY)
Certified statutory bad check notice must be sent. Amount due, interest, court costs, reasonable attorney’s fees, plus damage equal to greater of $100 or three times check amount (not to exceed check amount plus $500)
GENERAL GARNISHMENT EXEMPTIONS
$142.50 of disposable earnings for wages paid weekly
* 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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