Tennessee Debt Collection Agency Laws :Summit A•R

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.

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