Louisiana Bankruptcy Exemptions
New Louisiana Bankruptcy Information to our friends in the gulf coast area of Louisiana considering filing chapter 7 bankruptcy. Due to the devastation caused by hurricane Katrina, the Louisiana Bankruptcy Courts have temporarily waived the new bankruptcy law requirements for your area.
You will still be required to use the new Louisiana Bankruptcy Forms to File Bankruptcy in Louisiana
The U.S. Trustee Program will terminate the waiver in the Middle and Western Districts of Louisiana and the Southern District of Mississippi effective March 10, 2008.
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FEDERAL BANKRUPTCY EXEMPTIONS ARE NOT AVAILABLE
All Bankruptcy law references are to Louisiana Revised Statutes Annotated unless otherwise noted. |
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ASSET |
EXEMPTION |
LAW PROVISION |
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HOMESTEAD
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Up to $25,000, but cannot exceed 5 acres if the residence in a municipality, or 200 acres if not located in a municipality. As to obligations arising directly as a result of a catastrophic or terminal illness or injury, exemption is the full value of the based on value one year before seizure
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20:1 |
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Spouse or child of deceased owner may claim homestead exemption; spouse given home in divorce gets homestead |
20:1 |
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INSURANCE |
Fraternal benefit society benefits |
22:558 |
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Group insurance policies or proceeds |
22:649 |
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Health, accident or disability proceeds or avails |
22:646 |
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Life insurance proceeds or avails; if policy issued within 9 months of filing, exempt only to $35,000 |
22:647 |
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MISCELLANEOUS |
Property of minor child |
13:3881A(3), Civil 223 |
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PENSIONS |
Gratuitous payments to employee or heirs whenever paid |
20:33(2) |
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ERISA-qualified benefits if contributions made over 1 year before filing for bankruptcy |
13:388D(1), 20:33(4) |
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PERSONAL PROPERTY |
Arms, military accouterments, bedding, linens and bedroom furniture, chinaware, glassware, utensils, silverware, (non-sterling), clothing, family portraits, musical instruments, heating and cooling equipment, living room and dining room furniture, poultry, fowl 1 cow, household pets, pressing irons, sewing machine, refrigerator, freezer, stove, washer and dryer; Motor Vehicle to $7,500; 1 firearm to $500 |
13:3881A(4) |
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Cemetery plot, monuments |
8:313 |
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Engagement and wedding rings to $5,000 |
13:3881A(5) |
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PUBLIC BENEFITS |
Aid to blind, aged disabled , AFDC |
46:111 |
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Crime victims’ compensation |
46:1811 |
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Unemployment compensation |
23:1693 |
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Workers’ compensation |
23:1205 |
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TOOLS OF TRADE |
Tools, instrument, books, pickup truck (maximum 3 tons) non-luxury auto and trailer, needed to work |
13:3881A(2) |
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WAGES |
Minimum 75% of earned but unpaid wages; bankruptcy judge may authorize more for low-income debtor |
13:3881A(1) |
Louisiana Bankruptcy Courts
See the list below for Bankruptcy Courts by District. Click on the District link to go directly to that Bankruptcy Court's web site.
| BANKRUPTCY COURTS |
NUMBER OF COPIES |
Eastern District
501 Magazine Street
New Orleans, LA 70130
Telephone: (504) 589-7878
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contact clerks office |
Middle District
707 Florida Street, Rm. 119
Baton Rouge, LA 70801
Telephone: (504) 389-0211
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contact clerks office
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Western District
Shreveport Division
300 Fannin Street, Ste. 2201
Shreveport, LA 71101
Telephone: (318) 676-4267
Alexandria Division
300 Jackson Street
Alexandria, LA 71301
Telephone: (318) 473-7387
Lafayette-Opelousas Division
P.O. Box J 70571
250 S. Union, Rm. 205
Opelousas, LA 70570
Telephone: (318) 948-3451
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contact clerks office
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