does anyone know where I can find info on the laws that govern collection agency's in the state of Oregon?

Question

My Boss is considering opening up another business (collections) because we don't have any good ones here in Bend. He asked me to research it and I have found only dead ends. I would appreciate any leads!! Thank you!

Answer 1

Oregon Collection Agency Laws
Following is some important information on Oregon state statute of limitations including: Oregon Statutes, Oregon Judgments, Oregon Garnishments, Oregon Interest Rates, Oregon Bad Check Laws and Oregon Collection Agency Requirements.

INTEREST RATE
Statutory + Judgment: 9% simple interest per annum (Unless specified by contract)

STATUTE OF LIMITATIONS (IN YEARS)
Open Acct.: 6
Sale of Goods: 6 (4 yrs UCC Transaction)
Written Contract: 6
Domestic Judgment: 10 - Renewable at 10
Foreign Judgment: 10

BAD CHECK LAWS (CIVIL PENALTY)
Can recover reasonable attorney fees & statutory damages of three times the amount of the NSF check plus$500 if demand letter is sent to debtor 30 days before suit is filed.

GENERAL GARNISHMENT EXEMPTIONS
75% of disposable earnings or 40 x fed. min. hourly wage.

COLLECTION AGENCY BOND & LICENSE
Bond: No
License: Registration only
Fee: Established by director
Exemption for out-of-state collectors: Contact state authorities. Out-of-state agencies may be exempt if [1] collecting for out-of-state client; [2] the debt was incurred by an Oregonian outside the state; and [3] the state where the collection agency is headquartered has a registration program comparable to Oregon's law.

Here's is the application:

http://dfcs.oregon.gov/forms/2778.doc

Look at the links in here:

http://licenseinfo.oregon.gov/index.cfm?fuseaction=license_seng&link_item_id=1734

Here is a page I clicked on in the above link: Statues and regulation links are at the bottom of the page:

http://dfcs.oregon.gov/collection_agencies.html

Answer 2

Ring the sequence company and artwork out a fee plan. they gets off your lower back in the event that they might see you're making an attempt and in case you stick to the plan. If the repo guy has already taken the bike then what befell to the money that it grew to become into offered for? in case you have helped him get the bike, what variety of individual is he being by way of letting you're taking the autumn for non-fee. you have a baby to think of approximately and now there will be a mark against your credit background, which sooner or later you may desperately prefer a loan and this could reason issues. lower back like I pronounced, seek advice from the credit company. specific it could sense humiliating despite the fact that if it is going to save your sanity interior the long-term. additionally seek advice from the guy that had the bike and tell him to initiate looking different suggestion on a thank you to pay the debt, despite the fact that if it skill he has to sell the mattress he sleeps in. that's bigoted to you and your daughter. upward thrust up to your rights and your baby's, via fact of course this guy won't. Any guy which will permit a baby go through for his own issues is susceptible. do no longer make excuses for him, take care of your baby. stable success!