Debt Kit -- Settle unsecured debts for less than half of amount owed Credit Kit -- Improve credit rating and reduce monthly payments by $200+ |
WAGE GARNISHMENT EXEMPTION: 75% of disposable weekly earnings, but not less than 30 times the federal minimum hourly wage MAXIMUM INTEREST RATE: Legal: 9.75% Judgment: 9.75% STATUTE OF LIMITATIONS ON ENFORCEMENT: Open Account (credit cards): 3 years Written Contract: 10 years Promissory Notes: 5 years Domestic Judgment: 10 years Foreign Judgment: 10 years BAD CHECK LAW DAMAGES: Twice the check amount plus attorney's fees and court costs BANKRUPTCY PROPERTY EXEMPTIONS (Louisiana Revised Statutes Annotated): Cannot use federal exemptions, but can claim the federal non-bankruptcy exemptions The State of Louisiana has exempted the property and income below from seizure by the bankruptcy court to pay creditors: Real Estate: Real property used as a residence up to $15,000, not to exceed 160 acres [20:1] Personal property: Clothing, arms, bedding and linens, china, glassware and silverware, household furniture, stove, washer, dryer, refrigerator and freezer, sewing machine, family portraits, heating/cooling equipment, musical instruments, pets, poultry and one cow [13:3881A(4)]; wedding and engagement rings up to $5,000 [13:3881A(5)]; tools, books, instruments, pickup truck (up to three tons), non-luxury automobile, or utility trailer, amount needed for work [3:3881A(2)]; cemetery plot / monuments, unlimited amount [8:313] Insurance / Annuities: Fraternal society benefits, unlimited amount [22:558]; group insurance policies or proceeds, unlimited amount [22:649]; health, accident or disability proceeds, unlimited amount [22:646]; life insurance proceeds, unlimited amount, but only $35,000 if policy was issued within nine months of filing bankruptcy [22:647] Pensions / Retirement Plans: Retirement benefits, unlimited amount if contribution was more than one year before filing bankruptcy [13:3881D(1)]; gratuitous payments to an employee or heir, unlimited amount [20:33(2)] Public Benefits / Entitlements: Unemployment compensation, unlimited amount [23:1693]; crime victims compensation, unlimited amount [46:1811]; aid to aged, blind, disabled and families with dependent children, unlimited amount [46:111]; workers compensation, unlimited amount [23:1205] Wages: 75% of earned but unpaid wages [13:3881A(1)(a)] Miscellaneous: Minor child's property, unlimited amount [13:3881A(3)] |
Debt > State Statutes > Louisiana |
Debt > State Statutes > Louisiana |
Debt and Bankruptcy Laws -- Louisiana |
WAGE GARNISHMENT EXEMPTION: 75% of disposable weekly earnings, but not less than 30 times the federal minimum hourly wage MAXIMUM INTEREST RATE: Legal: 9.75% Judgment: 9.75% STATUTE OF LIMITATIONS ON ENFORCEMENT: Open Account (credit cards): 3 years Written Contract: 10 years Promissory Notes: 5 years Domestic Judgment: 10 years Foreign Judgment: 10 years BAD CHECK LAW DAMAGES: Twice the check amount plus attorney's fees and court costs BANKRUPTCY PROPERTY EXEMPTIONS (Louisiana Revised Statutes Annotated): Cannot use federal exemptions, but can claim the federal non-bankruptcy exemptions The State of Louisiana has exempted the property and income below from seizure by the bankruptcy court to pay creditors: Real Estate: Real property used as a residence up to $15,000, not to exceed 160 acres [20:1] Personal property: Clothing, arms, bedding and linens, china, glassware and silverware, household furniture, stove, washer, dryer, refrigerator and freezer, sewing machine, family portraits, heating/cooling equipment, musical instruments, pets, poultry and one cow [13:3881A(4)]; wedding and engagement rings up to $5,000 [13:3881A(5)]; tools, books, instruments, pickup truck (up to three tons), non-luxury automobile, or utility trailer, amount needed for work [3:3881A(2)]; cemetery plot / monuments, unlimited amount [8:313] Insurance / Annuities: Fraternal society benefits, unlimited amount [22:558]; group insurance policies or proceeds, unlimited amount [22:649]; health, accident or disability proceeds, unlimited amount [22:646]; life insurance proceeds, unlimited amount, but only $35,000 if policy was issued within nine months of filing bankruptcy [22:647] Pensions / Retirement Plans: Retirement benefits, unlimited amount if contribution was more than one year before filing bankruptcy [13:3881D(1)]; gratuitous payments to an employee or heir, unlimited amount [20:33(2)] Public Benefits / Entitlements: Unemployment compensation, unlimited amount [23:1693]; crime victims compensation, unlimited amount [46:1811]; aid to aged, blind, disabled and families with dependent children, unlimited amount [46:111]; workers compensation, unlimited amount [23:1205] Wages: 75% of earned but unpaid wages [13:3881A(1)(a)] Miscellaneous: Minor child's property, unlimited amount [13:3881A(3)] |
Debt Kit -- Settle unsecured debts for less than half of amount owed Credit Kit -- Improve credit rating and reduce monthly payments by $200+ |
