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List of collection agencies in Tennessee
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The statute of limitations on debt in Tennessee is six years. Tennessee exempts 75% of the debtor’s wages for most garnishments. Tennessee Fair Debt Collection Practices Act and Federal FDCPA laws protect debtors from harassment, abuse and misrepresentation by debt collectors.
- Consent of just 1 party is needed to record the call.
- Commercial collection agencies have been delivering a very decent recovery rate for their clients.
- Most collection activity happens in these 5 cities – Columbia, Chattanooga, Knoxville, Memphis and Nashville.
- Debt collectors cannot call debtors frequently before 8:00 am and 9:00 pm.
- Creditors cannot add fees or interest in TN unless it was specified in the original contract.
Tennessee residents have an average credit card debt of $4,669 .
The average graduate from a Tennessee institution is leaving campus with $26840 in student loan debt.