Maryland Collection Agencies
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One way to recover more from your delinquent accounts is to hire Maryland collection agencies. Maryland collection agencies can locate debtors and collect the money owed to your business, practice or facility. If used early, Maryland collection agencies can often recover a meaningful portion of your unpaid accounts.
In addition to increasing your chances of actually getting paid, using a Maryland 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 Maryland collection agency can be more effective in recovering delinquent accounts than you can, after more than 60-90 days have passed.
Although most Maryland 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 Maryland collection agency services that charge a low flat fee instead of a higher percentage. Collection coverage in these: Annapolis, Baltimore, Bowie, College Park, Columbia, Cumberland, Frederick, Gaithersburg, Greenbelt, Hagerstown, Rockville, Salisbury, Suitland, Takoma Park, Towson, Waldorf , Westminster, Wheaton, White Oak, Woodlawn and other Maryland cities.
Maryland Collection Laws
The following is a summary of the Maryland 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 Maryland Collection Laws page, and we assume no liability for its use.
- Maryland Collection Laws Interest Rate
Legal: 6%
Judgment: 10% or contractual - Maryland Collection Laws Statute Of Limitations (Years)
Open account: 3
UCC: 4
Specialty: 12 (contract under seal)
Written Contract: 3
Domestic Judgment: 12
Foreign Judgment: 12
- Maryland Collection Laws Bad Check Laws (NSF) (Civil Penalty)
After 30 day written notice, amount due, $25 fee, twice check amount up to $1000. (At the discretion of the court.) Applies to COD sales only. - Maryland Collection Laws General Garnishment Exemptions
Greater of 75% or amount = to $145 x no. of wks. in which wages due were earned; except in Caroline, Worchester, Kent & Queen Anne's Counties, see federal law. Exemption is up to $3,000 in cash and/or property for non-wage property exemption. - Maryland Collection Laws Collection Agency Bond & Licensing Rules
Bond: $5000
License: Yes
Fee: $200 each office
We hope that this information on Maryland Collection Agencies assists you in finding a Maryland collection agency and researching Maryland collection laws.
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