Montana Credit Laws
| INTEREST RATE | (Legal: 10%) |
The general usury limit is above 6% greater than New York City banks' prime rate. Judgments bear interest at the rate of 10% per annum. |
| STATUTE OF LIMITATIONS | (In Years) |
Contract not in Writing 5 - Written Contract 8 - Domestic Judgment 10 (District Court) - Justice of Peace Judge 10 - Tort Claim (Subrogation) Prop & Personal 3 |
| BAD CHECK LAWS | (Civil Penalty) |
$100 minimum or 3 times face value up to $ 500 plus face value of check and under UCC the value of the check plus $30 service charge per check, |
| GENERAL GARNISHMENT EXEMPTIONS |
See Federal law. |
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| HOMESTEAD EXEMPTION |
The homestead exemption limit in Montana is $100,000. Farmland property must not exceed 320 acres. Property outside the city must not exceed 1 acre, and property within the city must not exceed ¼ acre. |
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ADDING FEES TO DEBT |
silent in addressing whether collection agencies may add interest, fees or collection charges |