Arkansas Debt Collection Laws and Statutes

Below you will find important information on Arkansas state debt recovery laws including: Arkansas Statutes, Judgments, Garnishments, Interest Rates, and Bad Check Laws.

STATE: ARKANSAS

Interest Rate

  • Legal: 6% of 5 points above the Fed. discount rate
  • Judgment: Contract rate of 10% per annum, whichever is greater

STATUTE OF LIMITATIONS (IN YEARS)

  • Open Account: 3 (except medical which is 2 years)
  • Written Contract: 5 (partial payment stops the statute from running)
  • Sale of Goods (UCC-2): 4
  • Domestic Judgment: 10 renewable
  • Foreign Judgment: 10

BAD CHECK LAWS (CIVIL PENALTY)

Twice amount of check, prior to double charge, can start out with $25 charge per NSF check after 30 days.

GENERAL GARNISHMENT EXEMPTIONS

$500 head of family; $200 single. Includes personal property except clothing. Homestead Exemptions: 1/4 acre plus home in city (urban). 80 acres plus home is country (rural).

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