Mississippi Debt Collection Laws
In addition to being regulated by the Fair Debt Collection Practices Act (FDCPA), Mississippi collection agencies are also regulated by Mississippi debt collection laws. Discover: Mississippi collection requirements, bad check laws (NSF), statutes of limitations for both debts and judgments, garnishments plus Mississippi collection agency license and bonding information.
Summary of the Mississippi fair debt collection practices laws:
MISSISSIPPI INTEREST RATE
Legal: 8%
Judgment: amount in contract if no contract amount court decides
MISSISSIPPI STATUTE OF LIMITATIONS |in years|
Open Accounts: 3
Written Contract: 3
UCC: 6
Domestic Judgment: 7
Foreign Judgment: 7 |3 if resident|
MISSISSIPPI BAD CHECK LAWS |NSF|
On checks up to and including $25.00, additional damages would be 100% of check amount. On checks from $25.01 to $200.00, additional damages would be 50% of check amount but not less than $25.00. On checks over $200.00 additional damages would be 25% of check amount.
MISSISSIPPI WAGE GARNISHMENT EXEMPTIONS
See federal law.
MISSISSIPPI COLLECTION AGENCY BONDING and LICENSING REQUIREMENTS
Bond: No
License: City-Business
Fee: $15-$50
Below is the Mississippi debt collection statute:
We could not locate a Mississippi state statute regulating debt collection agencies. That does not mean one does not exist.
Mississippi Debt Collection Laws
Please note: Mississippi debt collection laws can change over time, and you need to consult with an attorney before you use this information.
Mississippi Debt Collection Laws
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