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New York Debt Collection Laws and Statutes

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

STATE: NEW YORK

Interest Rate

  • Legal: 16%
  • Judgment: 9%

STATUTE OF LIMITATIONS (IN YEARS)

  • Open Account: 6
  • Sale of Goods: 4
  • Written Contract: 6
  • Domestic Judgment: 20 (10 year renewable lien)
  • Foreign Judgment: 20 (10 year renewable lien)

BAD CHECK LAWS (CIVIL PENALTY)

Face value of check plus two time scheck amount up to a maximum of $400 on NSF or $750 on “no account” (Demand prescribed by law). GEN.OB 1.1-104

GENERAL GARNISHMENT EXEMPTIONS

90% of earnings, except 1st $154.50 week wholly exempt (only if the person earns minimum wage).

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