Kentucky Credit Laws
| INTEREST RATE | (Legal:8_%) | Judgment 12%, the general usury limit is more than 4% greater than the Federal Reserve rate or 19%,whichever is less. On loans above $ 15,000 there is no limit. |
| 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 disposble income or 30 times the federal minimum hourly wage (whichever is less) | |
| HOMESTEAD EXEMPTION |
Kentucky homestead exemption limit is $5,000. The sale proceeds of the homestead are exempt. |
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ADDING FEES |
silent in addressing whether collection agencies may add interest, fees or collection charges. |