Georgia Collection Agency

In business for over 40 years, AAB is a commercial Georgia collection agency. Our collection agency collects Georgia or GA commercial debt and AAB provides related commercial services. In some respects collecting commercial debt in Georgia can be complex and collection experience should be one of the first criteria for selecting a Georgia collection agency.

Georgia interest rate and Usury Laws are extremely controversial and need special agency attention when listing commercial collection accounts. When it comes to commercial collections, Georgia is a state where attention to detail should be a prerequisite when choosing a Georgia collection agency.

Below there are several points on georgia collection agency regulations and Laws that affect a Georgia collection agency. It is recommended to factor in these points when placing commercial debt for collection with a Georgia collection agency.

Georgia Collection Laws

NOTE: The Georgia 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.

Georgia Collection Interest Rates

Georgia Legal Rate: 7% per annum (without an agreement)
Contract Rate: 16% on amounts less than $3,000 – Any rate on amounts over $3,000
Judgment Rate: 3% plus Board of Governors of the Federal Reserve System prime rate
Usury % Cap: Up to 60% (affected by amounts, conditions and type of loan)

A Georgia Collection Agency can only charge interest at the rates above.

Georgia Statute of Limitations

Oral Contracts: 4 Years
Written Contracts: 4 Years
Sealed Instruments: 20 Years
Judgment: 20 Years
Judgment Execution: Execution must be issued with 7 Years, otherwise Judgment becomes dormant

Bad or NSF Check collection charges in Georgia

Georgia requires a 10 Day notice. After 10 days the debtor is liable for the amount owing upon such check, draft, or order, for damages of double the amount so owing, but in no case more than $500.00, and any court costs incurred by the payee in taking the action.

Georgia Collection Agency Laws

Georgia Collection Agency Licensing: NO
Bond: NONE

The information above on commercial debt collection and collection agency Laws has been provided to assist potential clients researching for a Georgia collection agency. Potential clients can request a free quote on our services when looking for a Georgia Collection Agency.