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Kentucky Commercial Collection Agency

Kentucky’s debt collection laws and statute of limitations were developed to regulate how debt collectors and creditors file law suits, collect debt, and maintain other consumer protection factors. This page will provide a list of informative economy data and collection laws in your learning process of Kentucky including: state debt, statute of limitations, state spending, interest rates, collection agency bond/license data, and more.

The population in 2015 was 4,425,092, with spending as $31.3 billion which was an increase of 7.66% from the $28.9 billion in 2014. Federal funds were $11.8 billion, state funds were at $19.5 billion, and per capita spending was $7,082. Kentucky debt in 2012 was a staggering $86.2 billion and per capita debt was almost $20,000. Based on the state’s debt data, it’s understandable that the state credit rating has held an AA- score from 2004–2014 (BallotPedia.org).

Kentucky collection laws are similar to the Federal Fair Debt Collection Practices Act (FDCPA), which is designed to protect debtors from outside debt collectors and any harassment situations. The law also provides a segment that attorneys are covered by the FDCPA. The federal law also states that debtors can not be harassed about a debt or bill; harassment includes: telling debtor’s neighbors or employers that debtors owe debt, contact a debtor’s employer about debt, calling a debtor between 8:00 a.m. or after 9:00 p.m., and a variety of other harassment tactics (KYJustice.org).

SUMMARY OF KENTUCKY COLLECTION LAWS*

INTEREST RATE
Legal: 8% – Judgment 12%

STATUTE OF LIMITATIONS (IN YEARS)
Open Acct: 5 – Written Contract 15 – Oral Contract 5 – Domestic Judgment 15 – Foreign Judgment 15

BAD CHECK LAWS (CIVIL PENALTY)
N/A

GENERAL GARNISHMENT EXEMPTIONS
25% of disposable income or 30 times the federal minimum hourly wage (whichever is less)

COLLECTION AGENCY BOND & LICENSE
Bond: No – License: No – Fee: No

* These are not comprehensive statutes and therefore PSICollect.com and Prestige Services, Inc. disclaims any liability resulting from reliance by any party upon the legality and accuracy of the contents thereof.

Below is a list of the states in the US that we cover.
We are a nationwide operation and service all states, as well as Canada & Mexico.

Alabama
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
District of Columbia
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Washington
West Virginia
Wisconsin
Wyoming
Puerto Rico

We are an international collection agency and service the entire U.S. as well as foreign countries. In addition, we represent clients from any country outside the U.S. Let us know how we can help you today! Contact us here »