Call Us at 1-321-319-4131
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Our Lines Are Open From 8:00 AM to 8:00 PM ET
Michigan Invoice Guard™s Statute of Limitations
Below you will find important information on Michigan state debt recovery laws including: Michigan Statutes, Judgments, Garnishments, Interest Rates, and Bad Check Laws.
STATE: MICHIGAN
Interest Rate
- Legal: 5% (7% if in writing)
- Usury Limit: 25%
- Judgment: 1% over the US Treasury nore (it changes Jan. 1 & July 1) unless there is a contract in which event the rate of interest is governed by the contract.
STATUTE OF LIMITATIONS (IN YEARS)
- Open Account: 6
- Written Contract: 6
- Sales (UCC) Contract: 4
- Domestic Judgment: 10 renewable
- Foreign Judgment: 10
BAD CHECK LAWS (CIVIL PENALTY)
Twice the amount of check, no to exceed $500. Retail Claims – Notice Requirements.
GENERAL GARNISHMENT EXEMPTIONS
See federal law.
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Fixed Rate Collections makes it a common practice to speak directly with any potential clients wishing to gain access to the Fixed Rate Collections debt collection network. To get the signup process started, please fill out the form below and we will contact you within 12 business hours, or you may contact us immediately at 1-321-319-4131
Testimonials
"As a small businessman, I need all my money just to make ends meet. Using Invoice Guard™ has saved me money. As soon as I turned the account over to them, they called my Debtor and he brought a check right over to me." Read More "Our company thinks your program is fantastic. As a contractor, we always have issues with our payables. You guys are the best! It’s nice to find a product that really is a great value."Read More
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