Iowa Credit Laws
| INTEREST RATE | (Legal: 5%) | Judgment 5%,
general consumer transactions are governed at a maximum rate of 12%. |
| STATUTE OF LIMITATIONS | (In Years) |
Open Acct: 5 - Written Contract 10 - Domestic Judgment 10 - can be renewed in the next year - Foreign Judgment 10 - can be renewed in the next year |
| BAD CHECK LAWS | (Civil Penalty) | Triple check up to $500 over check amount |
| GENERAL GARNISHMENT EXEMPTIONS |
See federal law. |
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| HOMESTEAD EXEMPTION |
homestead exemption limit in Iowa is unlimited. The property may not exceed a 1/2 acre in a city or town, or 40 acres elsewhere. |
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ADDING FEES |
A debt collector shall not use a fraudulent, deceptive, or misleading representation or means to collect or attempt to collect a debt or to obtain information concerning debtors. The following conduct is fraudulent, deceptive, or misleading within the meaning of this subsection: A representation that an existing obligation of the debtor may be increased by the addition of attorney's fees, investigation fees, service fees or other fees or charges, when in fact such fees or charges may not legally be added to the existing obligation. |