Connecticut Credit Laws
| INTEREST RATE | (Legal: 8%) |
Judgment 10% or contractual, the general usury limit is 45%. The maximum rates to consumers is 12% per annum. |
| STATUTE OF LIMITATIONS | (In Years) |
Open Acct: 6 - Written Contract 6 - Oral Contract 3 - Domestic Judgment 20/25 - Small Claims Judgment 10/15 - Foreign Judgment 20 |
| BAD CHECK LAWS | (Civil Penalty) |
Personal liability of signatory on corporate claims unless signed in corporate capacity. |
| GENERAL GARNISHMENT EXEMPTIONS | 25% you may garnish disposable earnings each week, or 40 x fed. mm. hourly wage, whichever is less. | |
| HOMESTEAD EXEMPTION | The Connecticut limit is $75,000. | |
| ADDING FEES |
No consumer collection agency shall add any charge or fee to the amount of any claim which it receives for collection or knowingly accept for collection any claim to which any charge or fee has already been added to the amount of the claim unless the consumer is legally liable therefore, in which case, the charge or collection fee may not be in excess of fifteen per cent of the amount actually collected on the debt. |