Ohio Credit Laws
| INTEREST RATE | (Legal: |
1% above short rate pursuant to Ohio Revised code 134303 (for 2005 rate is 5%) - Judgment 10% (unless written contract) |
| STATUTE OF LIMITATIONS | (In Years) |
Open Acct: 6 - Sales Contract (UCC2-725) - Written Contract 15 - Domestic Judgment 21 renew every 5 - Foreign Judgment 21 renew every 5 |
| BAD CHECK LAWS | (Civil Penalty) |
The greater of $200 or three times the amount of check and attorney fees (no maximum) |
| GENERAL GARNISHMENT EXEMPTIONS | See federal law. | |
| HOMESTEAD EXEMPTION | Ohio is $5000. Property held in tenancy by the entirety is exempt from the debts of one spouse | |
|
ADDING FEES |
The laws or regulations of this state are silent in addressing whether collection agencies may add interest, fees or collection charges.
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