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Successfully collecting on your delinquent accounts is easiest when you work with a collection agency that’s familiar with the ins and outs of Indiana collection law. A Indiana collection agency can dramatically improve your chances of a successful debt recovery.
In order to boost your chances of collecting unpaid debts, you’ll want to contact a qualified debt collection agency immediately once you have doubts about an account. Time isn’t on your side when collecting in Indiana; it’s important to work with debt collectors who will go to work for you immediately.
It’s important to choose a collection agency that can offer you personalized attention and care. Summit AR is a great choice for Indiana accounts receivable. We service every major city in Indiana, including Indianapolis, Fort Wayne, Evansville, South Bend, Gary, Hammond, Bloomington, Muncie, Lafayette, and Anderson.
Indiana Collection Laws Interest Rate
| Legal: | 8% |
| Judgment: | 8% |
Indiana Collection Laws Statute Of Limitations
| Open Account: | 6 years |
| Written Contract: | 4 years |
| Domestic Judgment: | 10 years |
| Foreign Judgment: | 10 years |
Indiana Collection Laws Bad Check Laws (NSF) (Civil Penalty)
| Triple check amount up to $500 over check amount, + attorney fees & interest up to 18% per annum or triple check amount + attorney fees and interest at 8% per annum. |
Indiana Collection Laws General Garnishment Exemptions
| 75% of disposable earnings for work week or the amount of 30 x Federal minimum hourly wage, whichever is greater. |
Indiana Collection Laws Collection Agency Bond & Licensing Rules
| Bond: | $5,000 |
| License: | Yes |
| Fee: | $100, $80 renewal |
| Exemption for out-of-state collectors: Out-of-state collectors are exempt from licensing if [1] collecting for a nonresident creditor; and [2] collection activities limited to interstate communications (phone, fax, mail). | |
If you’re looking for a collection agency that knows Indiana, contact Summit AR today for fast, friendly, and effective results.
Disclaimer: While we strive to keep our state resource data accurate and up-to-date, the information contained on this page is provided without any warranty (expressed or implied), and should not be considered legal advice. We assume no liability for its use.
Convert more aged receivables into bottom-line revenue.
Our experienced collections specialists provide the best of both worlds: collection rates up to double the industry average, but with a delicate touch to protect your company’s relationships and good name. Schedule a free no-obligation consultation and learn how Summit A•R can put your balance sheets back in the black.
