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New Jersey Debt Collection Laws and Statutes

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

STATE: NEW JERSEY

Interest Rate

  • Legal: up to 30% – as provided for by contract
  • Judgment: Changes yearly. In 2007 – 4% on judgments up to %15,000. On judgments in excess of $15,000, an additional 2% is added to the interest rate.

STATUTE OF LIMITATIONS (IN YEARS)

  • Open Account: 6
  • Sale of Goods: 4
  • Written Contract: 6
  • Domestic Judgment: 20
  • Foreign Judgment: 20
  • Auto Deficiency: 4

BAD CHECK LAWS (CIVIL PENALTY)

Face amount of the check plus 3x the face value of the check, with the civil penalty not to exceed $500.

GENERAL GARNISHMENT EXEMPTIONS

$154.50 week min. 10% of gross earnings $154.50 & over.

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Frequently Asked Questions

We are the professionals! Third-party intervention significantly increases successful debt recovery.

The individual’s credit score will be negatively affected. We will also audit the claim to determine if the claim warrants legal action.

We will happily accept your old debts! The statute of limitations varies in each state so call us at 877-680-6064 to see if your debt is still valid

We use cutting edge technology to locate your debtor’s whereabouts, contact information and assets; all of which are critical to successful recovery of your money.

That’s great news! Report the payment to us ASAP and we can bill you for our commission.

Many debts are collected within the first 30 – 90 days.

Yes! Since there are costs associated with taking someone to court, this phase is always optional and we will never take legal action without your authorization.

You can access our Client Portal 24/7! You can also call us anytime at 877-680-6064.

Once your debtor’s payments adequately clear our account, we’ll get a check out to you thereafter.

Click here to request a quote or submit your claim today.

Any Questions? Call Toll-Free: (877) 680-6064

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DEBT COLLECTIONS

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