Florida Credit Laws
| INTEREST RATE | (Legal: 10%) | Judgment 10% or contractual, set annually by legislature |
| STATUTE OF LIMITATIONS | (In Years) |
Open Acct: 4 - Written Contract 5 - Domestic Judgment 7 Renewable |
| BAD CHECK LAWS | (Civil Penalty) |
After 30 day demand-treble amount in addition to amount owed, bank & court costs & reasonable attorney fees. |
| GENERAL GARNISHMENT EXEMPTIONS | See federal law except 100% head of household up to $500 |
|
| HOMESTEAD EXEMPTION |
The Florida homestead exemption is mandated by state Constitution. The dollar value exemption is unlimited. The exemption is limited to a half acre tract within a city and one hundred and sixty contiguous acres, elsewhere. Property held in tenancy by the entirety may be exempt against debts owed by one spouse. The US Court of Appeals recently held that the exemption will apply even if the owner acquired the property or enlarged it, with the intent to defraud creditors |
|
| ADDING FEES |
silent in addressing whether collection agencies may add interest, fees or collection charges. |