COLLECTION LAWS – WASHINGTON (WA)
(1) Pre-Judgment Interest Rate:
In the state of Washington, the pre-judgment interest rate is governed by RCW 4.56.110. According to this statute, the pre-judgment interest rate is set at the greater of 12% per year or the rate calculated by adding 4% to the yield of the 13-week Treasury bill.
(2) Post-Judgment Interest Rate:
Post-judgment interest rate in Washington is determined by RCW 4.56.110 as well. As per this statute, the post-judgment interest rate is set at 12% per year.
(3) Statute of Limitations for Written Contract:
The statute of limitations for a written contract in Washington is six years, as specified in RCW 4.16.040. This means that legal action to enforce a written contract must be initiated 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 Washington is three years. RCW 4.16.080 establishes this time limit, indicating that legal action to enforce an oral contract must be commenced within three 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 in Washington is also three years. RCW 4.16.080 applies to open accounts as well, requiring legal action to be initiated within three years from the date the cause of action accrues.
(6) Statute of Limitations for Contract for Sale of Goods:
For contracts related to the sale of goods, Washington follows the Uniform Commercial Code (UCC). Under RCW 62A.2-725, the statute of limitations for a contract for the sale of goods is four years. Legal action to enforce such a contract must be commenced within four years from the date the cause of action arises.
(7) Statute of Limitations for Promissory Note:
The statute of limitations for a promissory note in Washington is also six years. According to RCW 4.16.040, legal action to enforce a promissory note must be initiated within six years from the date the cause of action accrues.
(8) Statute of Limitations for Enforcement of Domestic Judgment:
In Washington, the statute of limitations for the enforcement of a domestic judgment is ten years. This is outlined in RCW 4.16.020, which states that an action to enforce a judgment must be brought within ten years from the date of its entry.
(9) Statute of Limitations for Enforcement of Foreign Judgment:
For the enforcement of a foreign judgment in Washington, the statute of limitations is ten years. RCW 6.36.025 establishes this time limit, specifying that an action to enforce a foreign judgment must be initiated within ten years from the date of its entry.
(10) Garnishment Exemptions:
Washington has specific exemptions regarding garnishment. Under RCW 6.27.150, certain types of income are exempt from garnishment, including Social Security benefits, public assistance, unemployment benefits, and workers’ compensation benefits, among others. It is important to consult the specific statute and seek legal advice to understand the full scope of garnishment exemptions in Washington.
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.