STATE: MISSISSIPPI

Interest Rate

• Legal: 8%
• Judgment: amount is contract, if no contract amount – court decides.

STATUTE OF LIMITATIONS (IN YEARS)

• Open Account: 3
• Written Contract: 3
• Sales (UCC) Contract: 6
• Domestic Judgment: 7
• Foreign Judgment: 7 (3 if resident)
• Deficiency Suit: 1 year from date of sale

BAD CHECK LAWS (CIVIL PENALTY)

On checks up to and including $25.00, additional damages would be 100% of check amount. On checks from $25.01 to $200.00, additional damages would be 50% of check amount but not less that $25.00. On checks over $200.00, additional damages would be 25% of check amount.

GENERAL GARNISHMENT EXEMPTIONS

See federal law. State Law: 30 days wages after service of process.