COLLECTION LAWS – MASSACHUSETTS (MA)
(1) Pre-Judgment Interest Rate: According to Massachusetts General Laws Chapter 231, Section 6B, the pre-judgment interest rate is determined by the court and is generally set at the same rate as the post-judgment interest rate.
(2) Post-Judgment Interest Rate: The post-judgment interest rate in Massachusetts is governed by Massachusetts General Laws Chapter 231, Section 6B. Currently, the post-judgment interest rate is set at 12% per annum.
(3) Statute of Limitations for Written Contract: The statute of limitations for a written contract in Massachusetts is six years. As per Massachusetts General Laws Chapter 260, Section 2, any action to enforce a written contract must be brought within six years from the date the cause of action accrues.
(4) Statute of Limitations for Oral Contract: For an oral contract, the statute of limitations in Massachusetts is also six years. Massachusetts General Laws Chapter 260, Section 2A specifies that the action to enforce an oral contract must be commenced within six years from the date the cause of action arises.
(5) Statute of Limitations for Open Account: In the case of an open account, the statute of limitations is generally six years in Massachusetts. Pursuant to Massachusetts General Laws Chapter 260, Section 2, the action to enforce an open account must be brought within six years from the date the cause of action accrues.
(6) Statute of Limitations for Contract for Sale of Goods: For contracts involving the sale of goods, including both written and oral contracts, the statute of limitations in Massachusetts is four years. This is established by Massachusetts General Laws Chapter 106, Section 2-725, which states that any action for breach of contract for sale must be commenced within four years after the cause of action accrues.
(7) Statute of Limitations for Promissory Note: The statute of limitations for a promissory note in Massachusetts is six years. According to Massachusetts General Laws Chapter 106, Section 3-118, any action to enforce a promissory note must be commenced within six years from the due date or the date of the note, whichever is later.
(8) Statute of Limitations for Enforcement of Domestic Judgment: In Massachusetts, the statute of limitations for the enforcement of a domestic judgment is 20 years. Massachusetts General Laws Chapter 260, Section 20 establishes that an action on a judgment must be brought within 20 years from the date the judgment is entered.
(9) Statute of Limitations for Enforcement of Foreign Judgment: The statute of limitations for the enforcement of a foreign judgment in Massachusetts is 20 years as well. Massachusetts General Laws Chapter 235, Section 23 provides that an action on a foreign judgment must be commenced within 20 years from the date of the judgment. (10) Garnishment Exemptions: Massachusetts law provides certain exemptions from garnishment. Wages are generally protected, with exemptions based on a percentage of the debtor’s disposable earnings. Massachusetts General Laws Chapter 246, Section 29 sets forth the guidelines for calculating the amount that is exempt from garnishment.
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.