Montana Debt Collection Laws

by Collection Agency Information

Montana Debt Collection Laws

In addition to being regulated by the Fair Debt Collection Practices Act (FDCPA), Montana collection agencies are also regulated by Montana debt collection laws. Discover: Montana collection requirements, bad check laws (NSF), statutes of limitations for both debts and judgments, garnishments plus Montana collection agency license and bonding information.

Summary of the Montana fair debt collection practices laws:

MONTANA INTEREST RATE

Legal: 10%
Judgment: 10%
A binding written agreement may provide for interest of 15% or 6% above prime

MONTANA STATUTE OF LIMITATIONS |in years|

Open Accounts: 5
Written Contract: 8
Domestic Judgment: 6 |over $5000| Renewable
Foreign Judgment: 6 Renewable

MONTANA BAD CHECK LAWS |NSF|

$100 minimum or 3 times face value up to $500

MONTANA WAGE GARNISHMENT EXEMPTIONS

See federal law.

MONTANA COLLECTION AGENCY BONDING and LICENSING REQUIREMENTS

Bond: No
License: No
Fee: No
Caveats:
Foreign corporations should register with MT Sec. of State prior to any suit in MT Courts or risk dismissal.
Attorney fees only if provided by a signed written agreement.

Below is the Montana debt collection statute:

We could not locate a Montana state statute regulating debt collection agencies. That does not mean one does not exist.

Montana Debt Collection Laws

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Debt Collection Laws

Knowing and abiding to the proper Montana debt collection laws is important for both creditors and collection agencies alike. There are debtor’s rights attorneys who are just waiting for creditors or collection agencies to slip up. If you mistakenly violate the Montana debt collection laws, you could create a liability for your business and even open yourself up to a expensive lawsuit.

Please note: Montana debt collection laws can change over time, and you need to consult with an attorney before you use this information.

Montana Debt Collection Laws

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