© Bruce C. Ward October 2000
Effective July 1, 1999, Kansas law was amended to make it easier to file foreign judgments in Kansas, particularly Federal Court judgments. A harsh ruling on the statute of limitations on foreign judgments was also changed by the amendment. This amendment was sponsored by the Kansas Credit Attorneys Association. Apparently, the Judicial Council did not like the change dealing with the statute of limitations, and introduced legislation to undo the change. That law was passed in 2000 and became effective on July 1, 2000. So the law is back where
we started prior to 1999.
If there is no agreement by the debtor to pay interest, creditors are allowed interest of 10% on liquidated sums owed, as a matter of law. To charge higher interest, there must be an agreement by the debtor to pay a higher rate of interest. There can be restrictions on how much interest can be charged and other requirements that must be met. Judgments bear interest at a rate provided by law, usually 12%. If you send us a claim where interest has been charged, please send along a copy of the agreement allowing the interest. |