MassachusettsState Collection Laws

STATE INTEREST RATES AND USURY LIMITS:

• Legal Rate: 6%

• Contract Rate: No limit

• Judgment Rate: 12% from the date of commencement of the action

• Corporate Rate: No set rate

 

LEGAL AGE:

• Age of Majority: 18

• Emancipation:  18 unless legally incapacitated for reasons other than insufficient age

• Contracts: Minors 15 or older may contract for life or endowment insurance. Minors 16 or older may contract for motor vehicle liability insurance.

 

DEBT RESPONSIBILITY: DOCTRINE OF NECESSARIES

• Both spouses are liable jointly or separately for debts for necessaries given to either spouse or member of their family.

 

STATUTE OF LIMITATIONS FOR CIVIL ACTIONS:

• Contracts: 6 years

• Contracts Under Seal: 20 years. Mass. Gen. Laws Ann. ch. 260, § 1

• Contracts for Sale: 4 years

•Judgments: 20 years

 

This information is not to be construed as legal advice. Legal advice must be tailored to the specific circumstances of each case. Although we attempt to provide up-to-date information, laws and regulations often change. We make no claims, promises, or guarantees about the accuracy or completeness of this document. For legal advice please contact an attorney. 

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