Missouri Collection Agency

Account Adjustment Bureau or AAB is a commercial Missouri collection agency. Our collection agency provides Missouri or MO commercial business debt recovery at reasonable rates. AAB has been providing debt recovery since 1973 and should be considered when looking for a Missouri collection agency.

Missouri usury laws are unique as there is no specifically delineated usury cap. It is assumed that the 9% legal rate is also the usury cap in Missouri. However, the interest rates on a written contract can be 10%. If creating a credit agreement or contract for customers in Missouri it is advisable to obtain legal advice on Missouri interest rates or retain a Missouri collection agency.

It should also be noted that corporation cannot use Usury as a defense in Missouri. This makes it even more important that the correct interest rate is used in any credit agreements or contracts. AAB offers credit agreement-contract services, which is available to the customers of our Missouri collection agency.

Below you will find summary points on Missouri collection regulations and Laws that affect a Missouri collection agency. It is recommended you factor in some of these points when placing commercial business debt for recovery with a Missouri collection agency.

Missouri Collection Laws

NOTE: The Missouri 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.

Missouri Collection Interest Rates

Missouri Legal Rate: 9% per annum
Contract Rate: 10% (exception for market rate)
Judgment: 9%
Usury % Cap: 9% (Corporations cannot use Usury as a defense)

A Missouri collection agency can only apply interest at the rates above.

Missouri Statute of Limitations

Sale of Goods: 4 Years
Open Accounts: 5 Years
Written Contracts: 10 Years
Judgment: 10 Years

Bad or NSF Check collection charges in Missouri

In Missouri: Face amount of the check, a reasonable service charge, not to exceed twenty-five dollars, plus an amount equal to the actual charge by the depository institution for the return of each unpaid or dishonored instrument. Passing bad checks can be a class A misdemeanor in Missouri.

Missouri Collection Agency Laws

Missouri Collection Agency Licensing: NO
Bond: NONE

The Information above on commercial debt collection and Missouri collection agency laws has been provided to assist potential clients researching for a Missouri collection agency. We encourage potential clients to request a free consultation when considering AAB as your Missouri Collection Agency.