MAXIMUM INTEREST RATE: Legal: 12% Judgment: 12%
STATUTE OF LIMITATIONS ON ENFORCEMENT:
Open Account (credit card): 10 years
Written Contract: 10 years
Domestic Judgment: 20 years
Foreign Judgment: 20 years
BAD CHECK LAW DAMAGES: Amount of check plus $25 in fees, plus treble (three times) damages up to $1,000
BANKRUPTCY PROPERTY EXEMPTIONS (General Laws of Rhode Island):
The State of Rhode Island has exempted the property and income below from seizure by the bankruptcy court to pay creditors:
Real Property: None
Personal Property: Clothing, amount needed [9-26-4(1)]; library of a professional in practice, unlimited amount and tools used for work up to $500 [9-26-4(2)]; beds and bedding, furniture and household goods, up to $1,000 total [19-26-4(3)]; books and bibles up to $300 [9-26-4(4)]; burial plot, unlimited amount [9-26-4(5)]; debt secured by promissory note, unlimited amount [9-26-4(7)];cooperative association holdings up to $50 [7-8-25]
Insurance / Annuities: Accident or sickness proceeds or benefits, unlimited amount [27-18-24]; fraternal society benefits, unlimited amount [27-25-18]; life insurance proceeds if policy prohibits proceeds from being used to pay creditors, unlimited amount [27-4-12]; temporary disability insurance, unlimited amount [28-41-32]
Pensions / Retirement Plans: Firefighters and police officers, unlimited amount [9-26-5]; IRAs, unlimited amount [9-26-4(11)]; private employees, unlimited amount [28-17-4]; retirement benefits, unlimited amount [9-26-4(12)]; state and municipal employees, unlimited amount [36-10-34]
Public Benefits / Entitlements: Unemployment compensation, unlimited amount [28-44-58]; workers' compensation, unlimited amount [28-33-27]; aid to aged, blind, disabled and families with dependent children, unlimited amount [40-6-14]; general assistance, unlimited amount [40-6-14]; disability benefits, unlimited amount [28-41-32]; veterans' disability or survivors' death benefits, unlimited amount [30-7-9]
Wages: Earned but unpaid wages due a seaman, unlimited amount [9-26-4(6)]; earned but unpaid wages if debtor received welfare during year before filing bankruptcy, unlimited amount [9-26-4(8)(B)(ii)]; earned but unpaid wages up to $50 [9-26-4(8)(C)(iii)]; wages to the needy if paid by a charitable organization, unlimited amount [26-4(8)]; earnings of a minor child or spouse, unlimited amount [9-26-4(9)]; earned but unpaid wages due member of military on active duty, unlimited amt [30-7-9]
Miscellaneous: Business partnership property [7-12-36]
