Puerto Rico Collection Agencies
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One way to recover more from your delinquent accounts is to hire Puerto Rico collection agencies. Puerto Rico collection agencies can locate debtors and collect the money owed to your business, practice or facility. If used early, Puerto Rico collection agencies can often recover a meaningful portion of your unpaid accounts.
In addition to increasing your chances of actually getting paid, using a Puerto Rico 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 Puerto Rico collection agency can be more effective in recovering delinquent accounts than you can, after more than 60-90 days have passed.
Although most Puerto Rico 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 Puerto Rico collection agency services that charge a low flat fee instead of a higher percentage. Collection coverage in these: Bayamon, Carolina, Ponce, San Juan and other Puerto Rico cities.
Puerto Rico Collection Laws
The following is a summary of the Puerto Rico 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 Puerto Rico Collection Laws page, and we assume no liability for its use.
- Puerto Rico Collection Laws Interest Rate
Legal: 9.25% changes every 6 months (6/30/97)
Judgment: It is Regulated by the Commissioner of the Board of Financial institutions every 6 months - Puerto Rico Collection Laws Statute Of Limitations (Years)
Open account: 3
Merchandise Open account: 3
Written Contract: 15
Mortgage: 20
Domestic Judgment: 15
Foreign Judgment: 15
- Puerto Rico Collection Laws Bad Check Laws (NSF) (Civil Penalty)
See articles 1851-1856 of the Puerto Rico Penal Code regarding bad check laws
- Puerto Rico Collection Laws General Garnishment Exemptions
75% of last 30 days' earnings for family support - Puerto Rico Collection Laws Collection Agency Bond & Licensing Rules
Bond:$5000
License: Yes
License Fee:
$100 - Original
$100 - Branch Office
$100 - Renewable
$100 - Investigation
We hope that this information on Puerto Rico Collection Agencies assists you in finding a Puerto Rico collection agency and researching Puerto Rico collection laws.
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