Louisiana STATE LAW

Here is a link to the complete text of Lousiana Law, the most interesting parts for credit repair are as follow

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

tape recording

– One party state

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)]
– Burial 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)]