State by State Resources

State Collection Law Summary Compiled by CLLA Staff

NEW JERSEY

Interest Rate
Legal: up to 30% - as provided for by contract
Judgment changes yearly. In 2005 - 1% or judgments up to $15,000. On
judgments in excess of 415,000, an additional 2% is added to the interest rate.

Statute of Limitations
Open Acct: 6
Sales of Goods: 4
Written Contract: 6
Domestic Judgment: 20
Foreign Judgment: 20

NEW MEXICO

Interest Rate
Judgment: 8.75% (in the absence of a written contract)

Statute of Limitations
Open Acct: 4
Written Contract: 6
Domestic Judgment: 14

NEW YORK

Interest Rate
Legal: 16%

Statute of Limitations
Open Acct: 6
Sales of Goods: 4
Written Contract: 6
Domestic Judgment: 20(10-year renewable lien)
Foreign Judgment: 20(10-year renewable lien)

NORTH CAROLINA

Interest Rate
Legal: 8%
Judgment: 8%

Statute of Limitations
Open Acct: 3
Sales of Goods: 4
Written Contract: 3
Domestic Judgment: 10
Foreign Judgment: 10

NORTH DAKOTA

Interest Rate
Legal: 6%
Judgment: 12%

Statute of Limitations
Open Acct for Services: 6
Sales of Goods: 4
Written Contract: 6
Domestic Judgment: 10(renewable)
Foreign Judgment: 10(renewable)