State by State Resources

State Collection Law Summary Compiled by CLLA Staff

R-U

RHODE ISLAND

Interest Rate
Legal: 12% - Judgement 12%

Statute of Limitations
Open Acct: 10
Written Contract: 10
Domestic Judgment: 20
Foreign Judgment: 20

SOUTH CAROLINA

Interest Rate
Legal: 8.75%
Judgment: 12%

Statute of Limitations
Open Acct: 3 - see SC Code Section 36-2-725
Sales Goods (UCC): 6
Written Contract: 3
Written Contract Under Seal: 20
Domestic Judgment: 10
Foreign Judgment: 10

SOUTH DAKOTA

Interest Rate
Legal: 12%
Judgment: 10%

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

TENNESSEE

Interest Rate
Legal: 10%
Judgment: 10% (or contract rate, whichever is greater)

Statute of Limitations
Open Acct: 6
Written Contract: 6
Domestic Judgment: 10
Foreign Judgment: 10

TEXAS

Interest Rate
Legal: 18% with agreement, can
change up to 6% without an
agreement

Statute of Limitations
There is a 4-year limitation period for
varying types of debt. The Statute of
limitations begins to run the day after cause of action accrues (Section 16.004(1)(3)).