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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 Mississippi collection law. A Mississippi collection agency can dramatically improve your chances of a successful debt recovery.
Time is of the essence when it comes to Mississippi 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.
Granted, professional debt collection may seem expensive, but when you consider the value of the time you’ll spend pursuing an unpaid account yourself, working with a collection agency usually makes financial sense for Mississippi businesses. Whether you’re based in Jackson, West Gulfport, Gulfport, Biloxi, Hattiesburg, Meridian, Southaven, Greenville, Tupelo, or Olive Branch, getting started — and started soon — with a Mississippi debt collection agency is a smart business move.
Mississippi Collection Laws Interest Rate
| Legal: | 8% |
| Judgment: | Court determined |
Mississippi Collection Laws Statute Of Limitations
| Open Account: | 3 years |
| Written Contract: | 3 years |
| Sales (UCC): | 6 years |
| Domestic Judgment: | 7 years |
| Foreign Judgment: | 7 years |
Mississippi Collection Laws Bad Check Laws (NSF) (Civil Penalty)
| On checks up to and including $25.00, additional damages would be 100% of check amount. On checks from $25.01 to $200.00, additional damages would be 50% of check amount but not less than $25.00. On checks over $200.00 additional damages would be 25% of check amount. |
Mississippi Collection Laws General Garnishment Exemptions
| See federal law. |
Mississippi Collection Laws Collection Agency Bond & Licensing Rules
| Bond: | No |
| License: | Yes |
| Fee: | $15 – $50 |
If you’re looking for a collection agency that knows Mississippi, 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.
