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Kentucky STATE LAW

WAGE GARNISHMENT EXEMPTION:

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

MAXIMUM INTEREST RATE:

– Legal: 8%
– Judgment: 12%

STATUTE OF LIMITATIONS ON ENFORCEMENT:

– Open Account (credit card): 5 years
– Written Contract: 15 years
– Oral Contract: 5 years
– Domestic Judgment: 15 years
– Foreign Judgment: 15 years

BAD CHECK LAW DAMAGES:

– None

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One party state

BANKRUPTCY PROPERTY EXEMPTIONS:
(Kentucky Revised Statutes)

– Cannot use federal exemptions, but can use the federal non–bankruptcy exemptions


– The State of Kentucky exempts the property and income below from seizure by the bankruptcy court to pay creditors:

Real Estate:

– Real or personal property used as residence (or proceeds from sale) up to $5,000 [427.060 and 427.090]

Personal property:

– Clothing, jewelry or furnishings up to $3,000 [427.010(1)]
– Health aids, unlimited amount [427.010(1)]
– Motor vehicle up to $2,500 [427.010(1)]
– Personal injury recoveries up to $7,500, but does not include pain and suffering or pecuniary loss [427.150(2)(c)]
– Tools of a non–farmer up to $300 [427.30]
– Tools, equipment, livestock and poultry of farmer up to $3,000 [427.010(1)]
– Lost earnings payments, amount needed for support [427.150(2)(d)]
– Burial plot up to $5,000 in lieu of real estate exemption [427.060]
– Medical expenses benefits received under state motor vehicle reparation law, unlimited amount [304.39–260]
– Library, instruments, equipment and furnishings of minister, attorney, physician, surgeon, chiropractor, veterinarian or dentist up to $1,000 [427.040]
– Motor vehicle of mechanic, mechanical or electrical equipment serviceman, minister, attorney, physician, chiropractor, veterinarian or dentist up to $2,500 [427.030 and 427.040]
– Wrongful death recoveries [427.150(2)(b)]

Insurance / Annuities:

– Group life insurance proceeds, unlimited amount [304.14–320]
– Health or disability benefits, unlimited amount [304.14–310]
– Fraternal society benefits, unlimited amount [427.110(2)]
– Annuity contract proceeds up to $350 per month [304.14–330]
– Life insurance policy if beneficiary is a married woman, unlimited amount [304.14–340]
– Life insurance proceeds if policy prohibits proceeds from being used to pay creditors, unlimited amount [304.14–350]
– Life or casualty insurance benefits, unlimited amount [427.110(1)]
– Life insurance proceeds or cash value if beneficiary is someone other than insured, unlimited amount [304.14–300]

Pensions / Retirement Plans:

– Firefighters and police officers, unlimited amount [67A.620, 95.878, 427.120, 427.125]
– Teachers, unlimited amount [161.700]; state employees, unlimited amount [61.690]
– Urban county government employees, unlimited amount [67A.350]
– Other pensions, unlimited amount [427.150(2)(e)]

Public Benefits / Entitlements:

– Unemployment compensation, unlimited amount [341.470]
– Workers compensation, unlimited amount [342.180]
– Crime victims compensation, unlimited amount [427.150(2)(a)]
– Aid to aged, blind, disabled and families with dependent children, unlimited amount [205.220]

Wages:

– 75% of earned but unpaid wages [427.010(2) and (3)]

Miscellaneous:

– Alimony or child support, amount needed for support [427.150(1)]
– Business partnership property, unlimited amount [362.270]
– Any real or personal property up to $1,000 [427.160]