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Ohio Collection Agency



AAB is a commercial Ohio collection agency. Our agency specializes in commercial collections and we cover OH or Ohio and the United States. We also provide consumer collections but the bulk of our business is commercial debt collection. We have been in business for 40 years and with our superior recovery results you should make AAB your choice for an Ohio collection agency.

Ohio collection agency coverage includes: Akron, Cincinnati, Cleveland, Columbus, Dayton, Toledo and other Ohio cities. We cover all of Ohio and protect our customers with $1 Million in E&O and Liability insurance even though the state of Ohio does not require any bonding or licensing for an Ohio collection agency.

Below you will find summary points on Ohio collection regulations and laws that affect an Ohio collection agency. Some of these points may need to be considered when submitting commercial accounts to an Ohio collection agency.

Ohio Collection Laws



NOTE: The Ohio 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.

Ohio Collection Interest Rates



Ohio Legal Rate: 21% per annum (Mortgages – 8% over FR Discount Rate)
Ohio Legal Rate Exceptions: No interest limit if:
Loan amount greater than $100,000
Loan is a demand note and unsecured
Contract Rate: No special rate
Judgment Rate: 10%
Usury % Cap: 21% per annum (see exceptions above)

An Ohio collection agency can only apply interest rates at the rates above.

Ohio Statute of Limitations



Oral Contract: 6 Years
Written Contract: 6 Years
Contracts for Sale (UCC): 4 Years
Judgment: Must be received within 10 Years

Bad or NSF Check charges in Ohio


If an Ohio collection agency has been designated to collect on a check, negotiable order of withdrawal, share draft, or other negotiable instrument that has been returned or dishonored for any reason, the collection agency may charge and receive check collection charges of not more than thirty dollars or ten per cent of the face amount of the instrument, whichever is greater, and may charge and receive any charge imposed by a financial institution upon the holder of the check, negotiable order of withdrawal, share draft, or other negotiable instrument that has been returned or dishonored for any reason.
Retail: Special notice requirements

Ohio Collection Agency Laws


Ohio Collection Agency Licensing: NO
Bond: NONE
Restrictions: No foreign corporation not excepted from sections 1703.01 to 1703.31 of the Revised Code, shall transact business in Ohio unless it holds an unexpired and uncanceled license to do so issued by the secretary of state.

We hope you find the collection information relating to commercial collections above is useful in your search for an Ohio collection agency. Give us a call and an AAB professional would be pleased to answer any questions you may have or request a free consultation when selecting an Ohio collection agency.
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Ohio Cities

Akron, OH
Cincinnati, OH
Cleveland, OH
Columbus, OH
Dayton, OH
Toledo, OH