Successfully collecting on your delinquent accounts is easiest when you work with a collection agency that’s familiar with the ins and outs of Maryland collection law. A Maryland collection agency can dramatically improve your chances of a successful debt recovery.
Time is of the essence when it comes to Maryland collections. For the best chances of a successful recovery, it’s important to contact a qualified debt collection agency at the first sign of trouble.
Maryland Collection Laws Interest Rate
| Legal: | 6% |
| Judgment: | 10% or contractual |
Maryland Collection Laws Statute Of Limitations
| Open Account: | 3 years |
| Written Contract: | 3 years |
| Domestic Judgment: | 12 years |
| Foreign Judgment: | 12 years |
Maryland Collection Laws Bad Check Laws (NSF) (Civil Penalty)
| After 30 day written notice, amount due, $25 fee, twice check amount up to $1000. (At the discretion of the court.) Applies to COD sales only. |
Maryland Collection Laws General Garnishment Exemptions
| Greater of 75% or amount = to $145 x no. of wks. in which wages due were earned; except in Caroline, Worchester, Kent & Queen Anne’s Counties, see federal law. Exemption is up to $3,000 in cash and/or property for non-wage property exemption. |
Maryland Collection Laws Collection Agency Bond & Licensing Rules
| Bond: | $5,000 |
| License: | Yes |
| Fee: | $200 each office |
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.
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