Delaware Credit Laws
| INTEREST RATE | (Legal: 8%) | Judgment 10% general usury rate is 12% |
| STATUTE OF LIMITATIONS | (In Years) |
Sale of Goods: 4 - Open Acct.: 4 - Written Contract 3 - Domestic Judgment No provision - Foreign Judgment No provision |
| BAD CHECK LAWS | (Civil Penalty) |
Amount due, cost of suit, protest fees |
| GENERAL GARNISHMENT EXEMPTIONS | 85% of disposable earnings ordisposable earnings minus 127.50 weekly according to schedule. | |
| HOMESTEAD EXEMPTION |
Delaware provides a $50,000 exemption in bankruptcy or insolvency matters. |
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| ADDING FEES | If the borrower's account is referred to an attorney (not a regularly salaried employee of the licensee) or to a third party for collection and if the agreement governing, or the bond, note or other evidence of, the loan so provides, charge and collect from the borrower a reasonable attorney's fee. In addition, following a borrower's default, the licensee may, if the agreement governing, or the bond, note or other evidence of, the loan so provides, recover from the borrower all court, alternative dispute resolution or other collection costs (including, without limitation, fees and charges of collection agencies) actually incurred by the licensee. |