Indiana Collection Agencies
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One way to recover more from your delinquent accounts is to hire Indiana collection agencies. Indiana collection agencies can locate debtors and collect the money owed to your business, practice or facility. If used early, Indiana collection agencies can often recover a meaningful portion of your unpaid accounts.
In addition to increasing your chances of actually getting paid, using a Indiana collection agency can save you a lot time and money � two of your most valuable resources. With their custom-designed debt collection systems, computers and software, a Indiana collection agency can be more effective in recovering delinquent accounts than you can, after more than 60-90 days have passed.
Although most Indiana collection agencies can charge between 30 to 50 percent of what they recover, you still end up with more than you probably could have collected on your own. There are also Indiana collection agency services that charge a low flat fee instead of a higher percentage. Collection coverage in these: Anderson, Bloomington, Carmel, Columbus, Elkhart, Evansville, Fishers, Fort Wayne, Gary, Hammond, Indianapolis, Kokomo, Lafayette, Lawrence, Mishawaka, Muncie, New Albany, Richmond, South Bend, Terre Haute and other Indiana cities.
Indiana Collection Laws
The following is a summary of the Indiana Collection Laws. The information here may not be 100% accurate and should not to be construed as legal advise. We make no warranty, express or implied concerning any information contained on this Indiana Collection Laws page, and we assume no liability for its use.
- Indiana Collection Laws Interest Rate
Legal: 8%
Judgment: 8% - Indiana Collection Laws Statute Of Limitations (Years)
Open account: 6
Written Contract for payment of money
(executed before 9/l/82): 10
(executed after 8/31/82): 6
Written Contract (other than payment of money): 10
Written Contract for sale of goods: 4
Domestic Judgment:
10 on real estate
20 against the person
Foreign Judgment: 10
- Indiana Collection Laws Bad Check Laws (NSF) (Civil Penalty)
Triple check amount up to $500 over check amount, + attorney fees & interest up to 18% per annum or triple check amount + attorney fees and interest at 8% per annum.
- Indiana Collection Laws General Garnishment Exemptions
75% of disposable earnings for work week or the amount of 30 x Federal minimum hourly wage, whichever is greater. - Indiana Collection Laws Collection Agency Bond & Licensing Rules
Bond: $5000 each office
License: Yes
Fee:
$100 plus $5 per annum, each unlicensed employee
$30 branch office
$80 - Renewal
Exemption for out-of-state collectors: Out-of-state collectors are exempt from licensing if [1] collecting for a nonresident creditor; and [2] collection activities limited to interstate communications (phone, fax, mail).
We hope that this information on Indiana Collection Agencies assists you in finding a Indiana collection agency and researching Indiana collection laws.
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