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Louisiana Collection Laws

Louisiana Collection Laws

Discover Louisiana’s Rules For Garnishment, Liens, and Property Foreclosure

A loan provider, collection law or agent company that has an assortment account is really a creditor. What the law states offers creditors a few way of gathering delinquent financial obligation. But before a creditor can begin, the creditor must visit court to receive a judgment.

The court might give a judgment to your creditor. A judgment is just a statement by a court the creditor has got the legal right to need a wage garnishment, a levy regarding the debtor’s bank reports, a lien regarding the debtor’s home, as well as in some states, ask a sheriff to seize the debtor’s property that is personal. The guidelines calls these treatments. A creditor awarded a judgment is known as a judgment-creditor. Which of the tools a judgment-creditor will make use of is dependent upon the circumstances. We discuss all these remedies below.

Louisiana Wage Garnishment

Probably the most typical technique utilized by judgment-creditors to enforce judgments is wage garnishment, by which a judgment creditor would contact the debtor’s manager and need the boss to subtract a specific percentage of the debtor’s wages each pay period and send the cash to your creditor.

Louisiana has two forms of garnishment procedures: wage and bank. Louisiana exemptions could be the limitation of wage garnishments to 25% % of this judgment-debtor’s adjusted earnings that are disposableLouisiana Revised Statute 13:3881).