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 debtorвЂ™s bank reports, a lien regarding the debtorвЂ™s home, as well as in some states, ask a sheriff to seize the debtorвЂ™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 debtorвЂ™s manager and need the boss to subtract a specific percentage of the debtorвЂ™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).