Showing posts with label Debt State Statutes in Arkansas. Show all posts
Showing posts with label Debt State Statutes in Arkansas. Show all posts

Saturday, December 10, 2011

Debt State Statutes in Arkansas

WAGE GARNISHMENT EXEMPTION


$500 head of family; $200 if single. Since federal law offers better exemption, it applies


MAXIMUM INTEREST RATE


Legal: 6% or 5 points above the federal discount rate

Judgment: Contract rate or 10% per annum, whichever is greater


STATUTE OF LIMITATIONS ON ENFORCEMENT



Open Account (credit card): 3 years

Written Contract: 5 years

Sale of Goods: 4 years

Domestic Judgment: 10 years (judgment is renewable)

Foreign Judgment: 10 years