Below you will find important information on Delaware state debt recovery laws including: Delaware Statutes, Judgments, Garnishments, Interest Rates, and Bad Check Laws.
STATE: DELAWARE
Interest Rate
- Prejudgment interest at legal rate: 6% (as of 12/2002) or contractual rate.
- Post-judgment interest at legal or contract rate
STATUTE OF LIMITATIONS (IN YEARS)
- Open Account: 4
- Sales of Goods (UCC): 4
- Written Contract: 3
- Promissory Notes: 6
- Personal Injury and Damage to Personal Property: 2
- Judgments: 10
- Justice of the Peace Court: 3
- Superior Court: 10
BAD CHECK LAWS (CIVIL PENALTY)
N/A
GENERAL GARNISHMENT EXEMPTIONS
Wage garnishment may not exceed 15% of disposable earnings or reduce disposable earnings to less than $150.00 a week.