WAGE GARNISHMENT EXEMPTION
75% of employee's weekly net income or $402.50, whichever is more. Federal law applies if it provides a more generous exemption.
MAXIMUM INTEREST RATE
Legal: 10.5% Judgment: 10.5% or contractual
STATUTE OF LIMITATIONS ON DEBT COLLECTION
Sale of Goods: 4 years
Written Contract: 6 years
Domestic Judgment: 10 years
Foreign Judgment: 10 years
Showing posts with label Debt State Statutes. Show all posts
Showing posts with label Debt State Statutes. Show all posts
Friday, December 9, 2011
Thursday, December 8, 2011
Debt State Statutes in Alabama
Wages: 75% of earned but unpaid wages (special provisions for low-income workers) [6-10-7]
WAGE GARNISHMENT EXEMPTIONS
75% of wages are exempt from garnishment. If federal law provides greater exemption amount, it applies.
MAXIMUM INTEREST RATES
Legal: 6% Judgments: 12%
STATUTE OF LIMITATIONS ON DEBT COLLECTION
Open Account (credit card): 3 years
Written Contract: 6 years
Domestic Judgment: 20 years
Foreign Judgment: 20 years
BAD CHECK FEES
$10 or actual bank charges, whichever is greater
WAGE GARNISHMENT EXEMPTIONS
75% of wages are exempt from garnishment. If federal law provides greater exemption amount, it applies.
MAXIMUM INTEREST RATES
Legal: 6% Judgments: 12%
STATUTE OF LIMITATIONS ON DEBT COLLECTION
Open Account (credit card): 3 years
Written Contract: 6 years
Domestic Judgment: 20 years
Foreign Judgment: 20 years
BAD CHECK FEES
$10 or actual bank charges, whichever is greater
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