State by State Resources

State Collection Law Summary Compiled by CLLA Staff

I-L

IDAHO

Interest Rate
Legal: 12%
Judgment: 10.875% plus the base rate

Statute of Limitations
Open Acct: 4
Oral Contract: 4
Written Contract: 5
Domestic Judgment: 5 (renewable)
Foreign Judgment: 6 (renewable)

ILLINOIS

Interest Rate
Legal: 5%
Judgment: 9%

Statute of Limitations
Sales(UCC): 4
Open Acct: 3
Written Contract: 10
Domestic Judgment: 20
Foreign Judgment: Same as foreign jurisdiction

INDIANA

Interest Rate
Legal: 8%

Statute of Limitations
Open Acct: 6
Written Contract for payment of money: Executed before 9/1/82: 10,
Executed after 8/31/82: 6
Written Contract (other than payment of money): 10
Domestic Judgment: 10
Foreign Judgment: 10

IOWA

Interest Rate
Legal: 5%
Judgment: 10%

Statute of Limitations
Open Acct: 5
Written Contract: 10
Domestic Judgment: 10(renewable in the next year)
Foreign Judgment: 10(renewable in the next year)