Nexa Collections

Collection Agencies in Georgia and Laws

Directory >> USA >> Georgia

List of collection agencies in Georgia

If you need a cost-effective debt collection agency fully licensed to recover medical or small business debt in Georgia: Contact us

Debt Collection Laws in Georgia

Here are some relevant federal and state laws that were in effect as of 2021:

  1. Fair Debt Collection Practices Act (FDCPA): This federal law protects consumers from abusive, deceptive, or unfair debt collection practices. It sets limits on when and how debt collectors can contact consumers and provides consumers with rights to dispute debts and obtain information about the debts.
  2. Fair Credit Reporting Act (FCRA): Another federal law, the FCRA regulates the collection and use of consumer credit information. It provides consumers with the right to access their credit reports and to dispute any inaccuracies.
  3. Georgia Industrial Loan Act: This state law regulates loans of $3,000 or less. It requires lenders of such loans to be licensed and provides protections for consumers from high-interest rates and fees.
  4. Georgia Debt Collection Law: Georgia law prohibits deceptive and unfair practices by debt collectors. For example, a debt collector cannot falsely represent the character, amount, or legal status of a debt. It also cannot threaten to take legal action that it does not intend to take.
  5. Statute of Limitations in Georgia: In Georgia, there is a time limit for when creditors can sue consumers for unpaid debts. As of 2021, the statute of limitations for written contracts was six years, and for open-ended accounts such as credit cards, it was also six years.
  6. Georgia Garnishment Laws: If a creditor obtains a court judgment against a debtor in Georgia, they can garnish the debtor’s wages or bank accounts. Georgia law limits the amount that can be garnished to 25% of a debtor’s disposable earnings for the week or the amount by which a debtor’s disposable earnings for the week exceed thirty times the federal minimum hourly wage.
  7. Exemptions in Georgia: Georgia law has exemptions that protect certain property from being seized by creditors. This includes some equity in a home (homestead exemption), some personal property, and certain types of retirement accounts.
  8. Licensing Requirements: Third-party debt collectors in Georgia do not need to be licensed, but they must comply with federal and state laws regulating debt collection practices.

Please make sure to verify the most current legal information or consult an attorney or legal advisor with expertise in debt collection laws in Georgia for the latest details on debt collection laws in the state.

The Industrial Loan Division is responsible for licensing and regulating the small loan industry under the provisions of the Georgia Industrial Loan Act. This statute limits loan amounts to consumers not to exceed $3000 and a period not greater than 36 months and 15 days. This law offers protection in addition to the federal Fair Debt Collection Practices Act (FDCPA).

Debt collectors and collection lawyers in Georgia can attempt various actions like Wage garnishment, Put levy on Bank accounts and even Place a lien on the debtor’s property by obtaining a judgment from the court.

A Georgia debt collection agency can collect all across the state, including Atlanta, Columbus, Augusta, Macon, Savannah, Athens, Sandy Springs, Roswell, Johns Creek and Albany.