Dec 29, 2023

Commercial Debt Collection Laws in Versailles KY

Versailles, pronounced “ver-SALES” by locals, is one of Kentucky’s oldest cities, steeped in history that reflects the state’s cultural heritage. The city is located in north-central Kentucky and has a population of nearly 11,000 residents.


Versailles Commercial Debt Collection Laws

The commercial debt collection laws in Versailles are similar to those in the state of Kentucky, and were developed to regulate how creditors and debt collectors file law suits. The legal interest rate is 8 percent and the judgment rate is 12 percent. The statute of limitations includes:

  • Open Accounts: 5 years
  • Written Contracts: 15 years
  • Oral Contracts: 5 years
  • Domestic Judgments: 15 years
  • Foreign Judgments: 15 years

Read more information on commercial debt collection laws in Kentucky.


History of Versailles

Founded in 1792, Versailles pays homage to the French palace of Versailles, perhaps hinting at the aspirations of the city’s founders for a place of beauty and refinement. As the seat of Woodford County, Versailles has played a pivotal role in the development of the surrounding area.

One of Versailles’ most distinguishing features is its commitment to preserving its historic architecture. The downtown area, lined with well-preserved 19th-century buildings, exudes a timeless charm that transports visitors back to a bygone era. The iconic courthouse square is surrounded by quaint shops, local boutiques, and charming eateries, making it a focal point for both residents and tourists alike.

The allure of Versailles extends beyond its architectural treasures. The city is renowned for its connection to the Thoroughbred industry, a hallmark of the Bluegrass Region. Horse enthusiasts and breeders from around the world are drawn to Versailles for its lush pastures, expansive horse farms, and the storied Keeneland Race Course, just a short drive away. The rolling hills and expansive fields create a picturesque backdrop for the equine activities that have become synonymous with the region.


Versailles Export & Culture

Woodford County, where Versailles is located, has a long-standing tradition of bourbon production. The region is home to several esteemed bourbon distilleries, adding to Versailles’ cultural tapestry. Visitors can explore the bourbon-making process, tour distilleries, and savor the distinctive flavors that have made Kentucky bourbon internationally celebrated.

The sense of community is a defining characteristic of life in Versailles. The city hosts various events and festivals throughout the year that bring residents together, fostering a strong sense of camaraderie. The Midway Fall Festival, held in nearby Midway, and the Twilight Festival in Versailles itself are just a few examples of the vibrant community spirit that permeates the area.


Contact Prestige Services, Inc.

Contact Prestige Services, Inc., if you own a business and are owed money from another company, that way our representatives can help get money returned to you. We offer a variety of services to businesses like yours, including free final notice forms, professional skip tracing, bank account searches, and more. We only take a contingency fee if we collect money in the debt collection process—so if our debt recovery service fails, there won’t be any fees for you.

For more information on the services we provide, visit our Services page.

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 »

Comodo SSL