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Tennessee Commercial Collection Agency



AAB is a Tennessee commercial collection agency that specializes in commercial debt recovery. AAB collects TN debt and here are some facts to consider when you are selecting a collection agency in Tennessee.

AAB covers all of Tennessee or TN and our collection agency handles commercial Tennessee debtors in Chattanooga, Clarksville, Franklin, Knoxville, Memphis and other cities in Tennessee.

A collection agency must be licensed in Tennessee to collect debt that is consumer or commercial. In the case of excessive interest rates (see below) any out of state creditors can expect their loan to be illegal and unenforceable if over 24%.

Below there are summary points on Tennessee regulations and Laws that affect a Tennessee collection agency. These points should be considered when contemplating listing commercial debt for collection with a Tennessee commercial collection agency.

Tennessee Collection Laws



NOTE: The Tennessee commercial collection guidelines below are 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.

Tennessee Collection Interest Rates



Tennessee Legal Rate: 10%
Contract Rate: 4% above average prime rate or 24% or whichever is less
Single Payment Loans of $1000 or less: 10% (loan term 1 year or under)
Judgment: 2% less than formula rate posted by Tennessee
Usury % Cap: Same as Contract Rate or Single Loan rate

A Tennessee commercial collection agency can only charge interest at the rates above.

Tennessee Statute of Limitations



Tennessee Contracts: 6 Years
Open Accounts: 6 Years
Judgment: 10 Years

Bad or NSF Check collection charges in Tennessee


Tennessee only allows the Payee to charge a maximum $30 charge for a handling fee and bank fees not to exceed $9 per returned check

Tennessee Collection Agency Laws


Tennessee State Licensing: Yes
Agency Bond: YES - $15,000 to $25,000
Trust Account: Required, but not for non-residents
State Fees: $150 (Initial application) $600 for License $100 Renewal

Information above on commercial collections and the Tennessee Collection Agency Laws is provided to help potential Clients looking for a commercial collection agency in Tennessee. We encourage potential Clients to give us a call on the commercial solutions we offer or request a free quote from our Tennessee Commercial Collection Agency.

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Tennessee Cities

Chattanooga, TN
Clarksville, TN
Franklin, TN
Knoxville, TN
Memphis, TN
Nashville, TN