COLLECTION LAWS – HAWAII (HI)
(1) Pre-Judgment Interest Rate: The pre-judgment interest rate in Hawaii is determined by Hawaii Revised Statutes (HRS) Section 478-2.5. The pre-judgment interest rate is set at the rate of 10% per annum.
(2) Post-Judgment Interest Rate: The post-judgment interest rate in Hawaii is governed by HRS Section 478-3. Currently, the post-judgment interest rate is 10% per annum, unless a different rate is specified by statute or agreed upon by the parties.
(3) Statute of Limitations for Written Contract: The statute of limitations for a written contract in Hawaii is set forth in HRS Section 657-1. The statute provides that actions based on a written contract must be commenced within six years from the date the cause of action accrues.
(4) Statute of Limitations for Oral Contract: The statute of limitations for an oral contract in Hawaii is also covered by HRS Section 657-1. Similar to written contracts, actions based on an oral contract must be initiated within six years from the date the cause of action arises.
(5) Statute of Limitations for Open Account: The statute of limitations for an open account in Hawaii is outlined in HRS Section 657-1. An open account action must be brought within six years from the date of the last item in the account.
(6) Statute of Limitations for Contract for Sale of Goods: The statute of limitations for a contract for the sale of goods in Hawaii is addressed in HRS Section 490:2-725. According to this statute, actions related to the sale of goods must be commenced within four years from the date the cause of action accrues.
(7) Statute of Limitations for Promissory Note: The statute of limitations for a promissory note in Hawaii is governed by HRS Section 490:3-118. Actions on a promissory note must be initiated within six years from the due date or the date of the last payment.
(8) Statute of Limitations for Enforcement of Domestic Judgment: The statute of limitations for the enforcement of a domestic judgment in Hawaii can be found in HRS Section 657-5. A domestic judgment may be enforced within ten years from the date the judgment becomes final.
(9) Statute of Limitations for Enforcement of Foreign Judgment: The statute of limitations for the enforcement of a foreign judgment in Hawaii is covered by HRS Section 657-9. An action to enforce a foreign judgment must be commenced within five years from the date of entry of the foreign judgment.
(10) Garnishment Exemptions: The specific garnishment exemptions in Hawaii are detailed in HRS Section 651-124. The exemptions include certain types of property, such as wages, government assistance benefits, retirement benefits, and tools of trade, up to certain specified amounts.
Disclaimer: Please note that the presented content is an outline of legal regulations, serving as a general overview rather than an exhaustive representation of comprehensive statutes. It is crucial to recognize that this outline does not constitute “legal advice.” Moreover, it is important to acknowledge that subsequent changes to the listed statutes may occur subsequent to this publication. It is recommended to consult an attorney in the jurisdiction to confirm the information is up-to-date and accurate.