Sunday, January 1, 2012

Debt State Statutes in Michigan

WAGE GARNISHMENT EXEMPTION: Federal law applies



MAXIMUM INTEREST RATE: Legal: 5% Judgment: About 7% (changes annually)



STATUTE OF LIMITATIONS ON ENFORCEMENT:



Open Account (credit cards): 6 years

Written Contract: 6 years

Domestic Judgment: 10 (renewable)

Foreign Judgment: 10 years

No comments:

Post a Comment