State Resource Center > Tennessee | Different State?
Choosing an Tennessee Collection Agency
The fastest, most successful way to collect an unpaid debt successfully and quickly is to work with a collection agency that knows your state’s unique collection laws. Hiring a Tennessee collection agency — or a national agency which has experts on Tennessee collections law on staff — can dramatically boost your chances of successfully collecting on your unpaid account.
Tennessee Collection Laws Interest Rate
| Legal: | 10% |
| Judgment: | 10% or contract rate (varies with type of transaction) |
Tennessee Collection Laws Statute Of Limitations
| Open Account: | 6 years |
| Written Contract: | 6 years |
| Domestic Judgment: | 10 years |
| Foreign Judgment: | 10 years |
Tennessee Collection Laws Bad Check Laws (NSF) (Civil Penalty)
| Treble damages up to $500 + 10% interest and reasonable service charges, attorney’s fees, and court costs |
Tennessee Collection Laws General Garnishment Exemptions
| See Federal law. Add $2.50 per week for dependent child under 16 |
Tennessee Collection Laws Collection Agency Bond & Licensing Rules
| Bond: | $15,000 1-4 employees, $20,000 5-9 employees, $25,000 10 or more employees |
| License: | Yes |
| Fee: | $600 – Original, $350 – Renewal, $25 – Each Solicitor |
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.
Summit was there every step of the way with patience, good humor, and advice. We received payment in record time. I will definitely use Summit again for any of our debt collection needs.
Alison D., Credit Manager
International Distributor
International Distributor
Summit AR handled the accounts extremely professionally and kept that quality working relationship with our client intact. Best of all we received a 75% recovery rate. I would recommend them to any company.
Micah B., Director
National Franchisor
National Franchisor
You've been able to get our problem accounts paid in full so that I can focus on more profitable activities
Owner
IT Systems Co.
IT Systems Co.
I've been very impressed with how quickly you've recovered on accounts we thought were lost for good... many thanks!
Partner
Law Firm
Law Firm
You are definitely not the typical collection agency. I've experienced nothing but professionalism and unexpectedly good results versus my former agency... You actually give collection agencies a good name!
Manager
Medical Supply Co.
Medical Supply Co.
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Resource Center
Get information on collection laws in your state.
Get information on collection laws in your state.
