COLLECTION LAWS – NEVADA (NV)
(1) Pre-Judgment Interest Rate: In Nevada, the pre-judgment interest rate is set at the prime rate plus 2%. This is governed by Nevada Revised Statutes (NRS) Section 17.130.
(2) Post-Judgment Interest Rate: The post-judgment interest rate in Nevada is the prime rate as published by the Federal Reserve plus 2%. This is regulated by NRS Section 17.130.
(3) Statute of Limitations for Written Contract: The statute of limitations for bringing a lawsuit to enforce a written contract in Nevada is six years. This is outlined in NRS Section 11.190(1)(a).
(4) Statute of Limitations for Oral Contract: For oral contracts, the statute of limitations in Nevada is four years from the date the cause of action accrues. This is stated in NRS Section 11.190(2)(c).
(5) Statute of Limitations for Open Account: The statute of limitations for an open account, which includes credit card debt, in Nevada is four years. This is specified in NRS Section 11.190(2)(a).
(6) Statute of Limitations for Contract for Sale of Goods: The statute of limitations for a contract for the sale of goods in Nevada is four years. This is governed by NRS Section 104.2725.
(7) Statute of Limitations for Promissory Note: Nevada sets the statute of limitations for a promissory note at six years from the due date or the date of acceleration, whichever is later. This can be found in NRS Section 104.3313.
(8) Statute of Limitations for Enforcement of Domestic Judgment: The statute of limitations for enforcing a domestic judgment in Nevada is six years. This is outlined in NRS Section 17.130(2).
(9) Statute of Limitations for Enforcement of Foreign Judgment: Nevada allows enforcement of foreign judgments within six years from the date the foreign judgment becomes final. This is stated in NRS Section 17.330.
(10) Garnishment Exemptions: In Nevada, certain income and property are exempt from garnishment. Exemptions include, but are not limited to, certain government benefits, retirement accounts, and a portion of an individual’s wages. The specific exemptions are defined in NRS Chapter 21.
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.