Tennessee Collection Agencies
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One way to recover more from your delinquent accounts is to hire Tennessee collection agencies. Tennessee collection agencies can locate debtors and collect the money owed to your business, practice or facility. If used early, Tennessee collection agencies can often recover a meaningful portion of your unpaid accounts.
In addition to increasing your chances of actually getting paid, using a Tennessee 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 Tennessee collection agency can be more effective in recovering delinquent accounts than you can, after more than 60-90 days have passed.
Although most Tennessee 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 Tennessee collection agency services that charge a low flat fee instead of a higher percentage. Collection coverage in these: Bartlett, Brentwood, Bristol, Chattanooga, Clarksville, Cleveland, Cookeville, Franklin, Germantown, Hendersonville, Jackson, Johnson, Kingsport, Knoxville, Memphis, Morristown, Murfreesboro, Nashville, Oak Ridge, Smyrna and other Tennessee cities.
Tennessee Collection Laws
The following is a summary of the Tennessee 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 Tennessee Collection Laws page, and we assume no liability for its use.
- Tennessee Collection Laws Interest Rate
Legal: 10%
Judgment: 10% (or contract rate) (varies with type of transaction)
- Tennessee Collection Laws Statute Of Limitations (Years)
Open account: 6
Written Contract: 6
Domestic Judgment: 10
Foreign Judgment: 10
- Tennessee Collection Laws Bad Check Laws (NSF) (Civil Penalty)
Treble damages up to $500 + 10% interest & reasonable service charges, atty.'s fees, & court costs - Tennessee Collection Laws General Garnishment Exemptions
See federal law. Add $2.50 per week for dependent child under 16 - Tennessee Collection Laws Collection Agency Bond & Licensing Rules
Bond: $15,000 1-4 employees, $20,000 5-9 employees, $25,000 10 or more employees
License: Yes
Fee: $600 - Original, $350 - Renewal, $25 - Each Solicitor
We hope that this information on Tennessee Collection Agencies assists you in finding a Tennessee collection agency and researching Tennessee collection laws.
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