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Maryland Debt Collection Laws and Statutes

Below you will find important information on Maryland state debt recovery laws including: Maryland Statutes, Judgments, Garnishments, Interest Rates, and Bad Check Laws.

STATE: MARYLAND

Interest Rate

  • Legal: 6%
  • Judgment: 10% or contractual

STATUTE OF LIMITATIONS (IN YEARS)

  • Open Account: 3
  • Written Contract: 3
  • UCC: 4
  • Specialty: 12 (contract under seal)
  • 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

1) The greater of (a) 75% of the disposable wages due; OR (b) 30 times the federal minimum hourly wages under the Fair Labor Standards Act in effect at the time the wages are due; AND 2) any medical insurance payment deducted from an employee’s wages by the employer. Other federal exemptions may be available. Disposable wages means the part of wages that remain after deduction of any amount required to be withheld by law.

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DEBT COLLECTIONS

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