Kentucky Statute of Limitations on Debt Collection

The statute of limitations is an established rule that sets a time limit within which a creditor is able to sue you for payment of a debt. The amount of time that a creditor has to sue you is different for each state and if the time that is allowed by your state has passed, a creditor is unable to sue you for the debt. Before a consumer agrees to pay off their debt in Kentucky they should check what the statute of limitations is for their state to ensure that the debt is still due and payable. In Kentucky, the statute of limitations for credit card debt is more complex than most other states.

Kentucky law states that for an oral contract or verbal agreement, a debt collection agency has 5 years since the last action on the debt to file a lawsuit (KRS 413.120). For any written contract, Kentucky allows for the creditor to have 15 years to file a lawsuit for a resident of Kentucky. Additionally:

• An action for credit fraud: 5 years (KRS 413.120)
• If a creditor in Kentucky is looking to recover real property: 15 years (KRS 413.0 10)
• Pursuing a lawsuit against a creditor who owes money on a judgment, contract or bond: 15 years (KRS 413.110)
• All other actions that are not specifically provided for by the statute of limitations in Kentucky: 10 years (KRS 413.160)

If you want to get any more information or if you have questions about the Statute of Limitations in Kentucky, contact The Consumer Advocacy Center at 312-782-5808.