New Jersey § 56:11-60 Medical creditor, debt collector, interest rates, limited wage garnishing.

New Jersey Statutes

§ 56:11-60 — Medical creditor, debt collector, interest rates, limited wage garnishing.

New Jersey § 56:11-60

Title 56TRADE NAMES, TRADE-MARKS AND UNFAIR TRADE PRACTICES

This text of New Jersey § 56:11-60 (Medical creditor, debt collector, interest rates, limited wage garnishing.) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.J. Stat. Ann. § 56:11-60 (2026).

Text

5.A medical creditor or medical debt collector shall not: a. charge an interest rate on a medical debt of more than three percent per annum. The interest rate that shall apply to any judgment on medical debt shall be calculated pursuant to applicable court rules but shall not exceed three percent; or b. garnish the wages of a patient with annual income less than 600 percent of the federal poverty level to collect medical debt owed by that patient. L.2024, c.48, s.5.

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5. A medical creditor or medical debt collector shall not: a. charge an interest rate on a medical debt of more than three percent per annum. The interest rate that shall apply to any judgment on medical debt shall be calculated pursuant to applicable court rules but shall not exceed three percent; or b. garnish the wages of a patient with annual income less than 600 percent of the federal poverty level to collect medical debt owed by that patient. L.2024, c.48, s.5.