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Franklin Debt Relief, LLC is a member of (TASC) The Association of Settlement Companies. This trade association has developed a standardized industry disclosure for consumers.
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Credit Card Debt Consolidation Help in Kentucky Call Today: (877) 274-1260 |
Start here for debt help! |
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Kentucky Debt Relief Debt settlement, also known as debt negotiation and debt reduction, is the process by which we negotiate and settle a debt for a reduced amount on behalf of a client. In most circumstances, Franklin Debt Relief drastically reduces the monthly payment of our Kentucky clients, and we settle their debts for between 40 and 50% of what is owed. The savings from our debt settlement program are tremendous, and it is the cheapest and fastest debt relief, debt consolidation or debt help option available to consumers throughout Kentucky.If you're overwhelmed with credit cards, medical bills, balances from a repossession, or accounts in collections, call for a free consultation: (877) 274-1260. Pertinent Kentucky Debt Relief and Debt Help Laws (This is intended to be a helpful and informational debt resource for Kentucky consumers and does not constitute legal advice. For legal advice about your situation, contact a licensed professional in Kentucky.)Debt Collection Kentucky (KY) follows the set of federal laws dealing with collection agencies (and law firms that collect debts) that are collectively known as the Fair Debt Collection Practices Act (FDCPA). For more information on the FDCPA follow this link: debt collection. Maximum Interest Rate a Collection Agency Can Charge in Kentucky: 8% Kentucky Wage Protection: 75% of disposable weekly earnings (after tax income) or 30 times federal hourly minimum wage Statute of Limitations A statute of limitations is a law that sets forth the maximum period of time, after certain events, that legal proceedings based on those events may be initiated. For debt, the statutes of limitation apply to the maximum period of time after a consumer has become delinquent on their payments. The key point to remember is that you are considered delinquent not from the date of your last payment, but rather the day after you have gone past due. In other words, if you made your last payment on 3/3/03 and your next payment was due the same day of the next month, the statute of limitations on the debt would not start running until 4/4/04. The statutes of limitations vary from state to state and depend on the type of debt and where the original transaction took place (i.e. if you took the loan out in Texas but currently live in Kentucky, the applicable statutes of limitations would be Texas'.) Oral Agreements: 5 years Written Contracts: 15 years Promissory Notes: 15 years Open Accounts (credit cards): 5 years Bankruptcy Courts Ashland U.S. Bankruptcy Courtroom 2nd Floor Federal Bldg. & U.S. Courthouse Greenup Avenue and 15th St. Ashland, KY 41101 Pikeville U.S. Bankruptcy Courtroom, 608 BB & T Bank Bldg., 334 Main St., Pikeville, KY 41501 Lexington U.S. Bankruptcy Courtroom 100 East Vine St. Lexington, KY 40507 Frankfort U.S. Bankruptcy Courtroom, John C. Watts Federal Bldg. 330 West Broadway, Frankfort, KY 40601 London Second Floor Courtroom U.S. Courthouse 300 South Main Street London, KY, 40741 Covington U.S. Bankruptcy Courtroom, 35 W 5th St Rm 306, Covington, KY 41011 Gene Snyder Federal Courthouse 601 W. Broadway Louisville, Kentucky 40202 Federal Courthouse 241 East Main Street Bowling Green, KY 42101 United States Courthouse 423 Frederica Street Owensboro, KY 42301 United States Courthouse 501 Broadway Paducah, KY 42001 Bankruptcy Exemptions Bankruptcy exemptions are protected assets that the bankruptcy code mandates that a debtor is entitled to keep in order to adequately get a "fresh start" after filing. Bankruptcy exemptions vary from state to state, and the following list is the property that is protected in the bankruptcy code of Kentucky. For more information, follow this link: bankruptcy exemptions. Also, Kentucky is a tenancy by the entirety property state. Click here to learn about what this means if you have debt that's in only one spouse's name. Real Estate, Auto, Personal Property -Real or personal property used as residence to $5,000; sale proceeds exempt -Motor vehicles to $2,500 -$1,000 of any property -Clothing, jewelry, and furnishings to $3,000 total -Burial plot to $5,000, in lieu of homestead -Health aids -Lost earnings payments needed for support -Medical expenses paid and reparation benefits received under motor vehicle reparation law -Prepaid tuition payment fund account -Wrongful death recoveries for person you depended on, needed for support Insurance -Annuity contract proceeds to $350 per month -Cooperative life or casualty insurance benefits -Fraternal benefit society benefits -Group life insurance proceeds -Health or disability benefits -Life insurance policy if beneficiary is a married woman -Life insurance policy if clause prohibits proceeds from being used to pay beneficiary's creditors -Life insurance proceeds or cash value if beneficiary is someone other than insured Public Benefits -Aid to the blind, aged, disabled, and all other public assistance -Crime victims' compensation -Unemployment compensation -Workers' compensation Pensions -ERISA-qualified benefits -IRA, SEPs, and Keoghs deposited more than 120 days before filing -Firefighters, police officers -State employees -Teachers -Urban county government employees Tools of Trade -Library, office equipment, instruments, and furnishings of minister, attorney, physician, surgeon, chiropractor, veterinarian, or dentist to $1000 -Motor vehicle of auto mechanic, mechanical or electrical equipment servicer, minister, attorney, physician, surgeon, chiropractor, veterinarian, or dentist to $2500 -Tools, equipment, livestock, and poultry of farmer to $3000 -Tools of nonfarmer to $300 Other -Alimony, child support needed for support -Property of business partnership |
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