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Mississippi Debt Collection Laws and Statutes

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

STATE: MISSISSIPPI

Interest Rate

  • Legal: 8%
  • Judgment: amount is contract, if no contract amount – court decides.

STATUTE OF LIMITATIONS (IN YEARS)

  • Open Account: 3
  • Written Contract: 3
  • Sales (UCC) Contract: 6
  • Domestic Judgment: 7
  • Foreign Judgment: 7 (3 if resident)
  • Deficiency Suit: 1 year from date of sale

BAD CHECK LAWS (CIVIL PENALTY)

On checks up to and including $25.00, additional damages would be 100% of check amount. On checks from $25.01 to $200.00, additional damages would be 50% of check amount but not less that $25.00. On checks over $200.00, additional damages would be 25% of check amount.

GENERAL GARNISHMENT EXEMPTIONS

See federal law. State Law: 30 days wages after service of process.

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