Maryland Credit Laws
| INTEREST RATE | (Legal: 6%) | Judgment 10%, the general usury limit is 24%. |
| STATUTE OF LIMITATIONS | (In Years) | Open Acct: 3 - UCC:4 - Specialty: 12 (contract under seal) - Written Contract 3 - Domestic Judgment 12 - Foreign Judgment 12 |
| BAD CHECK LAWS | (Civil Penalty) |
After 30 day written notice, amount due, $25 fee, twice check amount up to $1000. (At the discretion of the court.) Applies to COD sales only. |
| GENERAL GARNISHMENT EXEMPTIONS |
Greater of 75% of amount to $145 x no. of wks. in which wages due were earned, except in Caroline, Worchester, Kent & Queen Anne's Counties, see federal law. Exemption is up to $3,000 in cash and/or property. |
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| HOMESTEAD EXEMPTION |
There is no Maryland homestead exemption. However, property that is held in tenancy by the entirety may be exempt from the debts owed by one spouse. |
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ADDING FEES |
silent in addressing whether collection agencies may add interest, fees or collection charges. |