Introduced February 12, 2025
SB145
Log in to followAN ACT relating to retail installment contracts.
Amend KRS 190.100 to authorize holders of retail installment contracts that utilize installment periods that are under 28 days to have a shorter waiting period prior to charging a delinquency and collection fee.
Plain-language summary
This bill changes the rules for certain short-term retail installment contracts — specifically those with payment periods under 28 days. It allows the companies holding these contracts to begin charging late and collection fees after a shorter waiting period than was previously required. Who it may affect: Kentuckians who purchase goods or services using short-term installment payment plans.
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Legislative History
Primary Sponsor
David Givens
Senator · Senate District 09
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