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Indiana Collection Agency



AAB is a commercial Indiana collection agency. We provide commercial debt collection and service Indiana or IN. In addition to debt collection we offer related collection services for Clients to boost their efficiency and lower costs. Our agency collects commercial debt in other US states besides Indiana. AAB has been collecting debt for over 40 years and a good reason to consider us as your commercial Indiana collection agency.

To collect commercial debt in Indiana an agency needs to be licensed as an Indiana collection agency. There is an exception (see Indiana Collection Agency Laws below) but it is very narrow and based on another states collection agency Laws being reciprocal to the Laws for an Indiana collection agency.

It is also interesting to note that there is no Usury Act in Indiana. By contrast, in the case of Indiana Collection Agency Laws, the state of Indiana has clearly defined the definition of a collection agency. In Indiana the term collection agency includes all persons engaging directly or indirectly and as a primary or secondary object, business, or pursuit, in soliciting claims for collection, or in the collection of claims owed or due or asserted to be owed or due. Unless an agency has the exemption mentioned below to legally collect consumer or commercial debt requires a licensed and bonded Indiana collection agency.

Below you will find several points on Indiana collection regulations and Laws that affect an Indiana collection agency. Consider some of these points when placing commercial collection files with an Indiana collection agency.

Indiana Collection Laws



NOTE: The Indiana collection information below is summary in nature and subject to change. While we make every effort to insure accuracy, the information below should not be considered legal advice or to be one hundred percent accurate. No warranty is expressed or implied and AAB assumes no liability for its use.

Indiana Collection Interest Rates



Indiana Legal Rate: 8% per annum (Without written agreement)
Consumer Contract Rate: 36% on unpaid balance under $1,050 – 21% on $1,050 to $3500 – 15% over $3500
Corporate Rate: No special rate
Judgment Rate: 8% per annum
Usury % Cap: No limits

An Indiana collection agency can only apply or charge interest at the rates above.

Indiana Statute of Limitations



Oral Contract: 6 Years
Contract for payment of money: 10 Years
Contract other than payment of money: 10 Years (includes mortgages-except Chattel mortgages)
Judgment: 20 Years

Bad or NSF Check collection charges in Indiana


Service Charge: $20 plus actual depository institution charges

Indiana Collection Agency Laws


Indiana Collection Agency Licensing: YES (see exception)
Exception: A non-resident collection agency that has no Indiana clients and collects only by interstate means (i.e. phone, mail, facsimile) is not required to be licensed.
Bond: $5,000
Trust Account: Required
Penalties: Class B misdemeanor

We hope the information above on commercial debt collection and Indiana collection agency Laws is useful in your research for an Indiana collection agency. Request a Quote on agency services when you consider AAB as your Indiana collection agency.
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Indiana Cities

Bloomington, IN
Evansville, IN
Fort Wayne, IN
Indianapolis, IN
South Bend, IN
W. Lafayette, IN