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.