Kentucky Debt Collection Laws

In addition to being regulated by the Fair Debt Collection Practices Act (FDCPA), Kentucky collection agencies are also regulated by Kentucky debt collection laws. Discover: Kentucky collection requirements, bad check laws (NSF), statutes of limitations for both debts and judgments, garnishments plus Kentucky collection agency license and bonding information.

Summary of the Kentucky fair debt collection practices laws:

KENTUCKY INTEREST RATE

Legal: 8%
Judgment: 12%

KENTUCKY STATUTE OF LIMITATIONS |in years|

Open Accounts: 5
Written Contract: 15
Oral Contract: 5
Domestic Judgment: 15
Foreign Judgment: 15

KENTUCKY BAD CHECK LAWS |NSF|

N/A

KENTUCKY WAGE GARNISHMENT EXEMPTIONS

75% of disposable income or 30 times the federal minimum hourly wage |whichever is greater|

KENTUCKY COLLECTION AGENCY BONDING and LICENSING REQUIREMENTS

Bond: No
License: No
Fee: No

Below is the Kentucky debt collection statute:

We could not locate a Kentucky state statute regulating debt collection agencies. That does not mean one does not exist.

Kentucky Debt Collection Laws

Knowing and abiding to the proper Kentucky debt collection laws is important for both creditors and collection agencies alike. There are debtor’s rights attorneys who are just waiting for creditors or collection agencies to slip up. If you mistakenly violate the Kentucky debt collection laws, you could create a liability for your business and even open yourself up to a expensive lawsuit.

Please note: Kentucky debt collection laws can change over time, and you need to consult with an attorney before you use this information.

Kentucky Debt Collection Laws

kentucky debt collection laws, ky debt collection laws, kentucky collection laws, Kentucky Collection agency license