Puerto Rico Statute of Limitations

Every Puerto Rico Collection Agency may collect files in Ponce, Carolina, Cabo Rojo, Isabela, Arecibo, Guayama, Humacao, Aguadilla, Mayaguez, Cayey, Caguas, and San Juan. Fidelity Information Corporation is a nationally recognized collection agency successfully collecting in every state including Puerto Rico.

Recover your delinquent accounts through an Puerto Rico Collection Agency Service. Puerto Rico collection agency services can locate debtors and collect the money owed to your business, practice or facility. Using Fidelity Information Corporation or OldDebts as your Puerto Rico collection agency service can save you time and money.

With our custom-designed debt collection system, our collection agency can be more effective in recovering delinquent accounts, after more than 31 days have passed. We offer two ways to collect, which are our contingency method or our low flat fee instead of a percentage.

Following is some important information on Puerto Rico state debt recovery laws including: Puerto Rico Statutes, Puerto Rico Judgments, Puerto Rico Garnishments, Puerto Rico Interest Rates, and Puerto Rico Bad Check Laws.

STATE: PUERTO RICO

Interest Rate

• Legal: 9.25% changes every 6 months (01/01/2007 - 06/30/07) The Legal Interest is granted by the Judge in the Judgment. The rate established for the legal interest is regulated by the Commissioner of the Board of Financial Institution every 6 months.

STATUTE OF LIMITATIONS (IN YEARS)

• Open Account: 3
• Merchandise Open Account: 3
• Written Contract: 15
• Mortgage: 20
• Domestic Judgment: 15
• Foreign Judgment: 15

BAD CHECK LAWS (CIVIL PENALTY)
See articles 1851-1856 of the Puerto Rico Penal Code regarding bad check laws.

GENERAL GARNISHMENT EXEMPTIONS
75% of last 30 days' earnings for family support.