Louisiana Laws on Wage Garnishments, Statute of Limitations on Debt and Bankruptcy Property Exemptions
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 yearsPromissory Notes: 5 yearsDomestic Judgment: 10 yearsForeign Judgment: 10 yearsBAD CHECK LAW DAMAGES: Twice the check amount plus attorney's fees and court costs
LOUISIANA 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]
How to Deal with Debt Collectors
Federal and State Laws Regarding Debt Collection
State Laws Regulating Wage Garnishments
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)]
