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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 Missouri collection law. A Missouri collection agency can dramatically improve your chances of a successful debt recovery.
Time is of the essence when it comes to Missouri 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 Missouri businesses. Whether you’re based in North Kansas City, Kansas City, Saint Louis, Springfield, Independence, East Independence, Columbia, Saint Joseph, Lees Summit, or Saint Charles, getting started — and started soon — with a Missouri debt collection agency is a smart business move.
Missouri Collection Laws Interest Rate
| Legal: | 9% |
| Judgment: | 9% |
Missouri Collection Laws Statute Of Limitations
| Open Account: | 5 years |
| Written Contract: | 10 years |
| Domestic Judgment: | 10 years |
| Foreign Judgment: | 10 years |
Missouri Collection Laws Bad Check Laws (NSF) (Civil Penalty)
| Three times face amount owed or $100 whichever is greater not to exceed $500 (exclusive of attorney fees) |
Missouri Collection Laws General Garnishment Exemptions
| See federal law; exempt 90% of week’s net pay, head of household, single person w/o depend. = 75% |
Missouri Collection Laws Collection Agency Bond & Licensing Rules
| Bond: | No |
| License: | No |
| Fee: | No |
If you’re looking for a collection agency that knows Missouri, 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.
