Louisiana State Bankruptcy Exemptions
Laws That Keep Your Creditors' Hands Off Your Property
Exemptions are laws passed by every state that allow you to protect certain types of your property from your creditors when you file bankruptcy-such as your home, car, pensions and IRAs, motor vehicles, clothing, tools, and other important property. Louisiana law provides a number of exemptions that protect your property, and your Louisiana TotalBankruptcy.com attorney will be able to advise you on which exemptions are best for you.
Homestead
Up to $25,000 in value is exempt.
Wages
75 percent of disposable earnings.
Automobiles
Up to $7,500 for one motor vehicle.
Other Property
100 percent of the value of tools, instruments, and books used in a trade or business; 100 percent of the value clothing, furniture, appliances, and related household items; and $5,000 in the value of wedding and engagement rings.
» Read the complete Louisiana bankruptcy exemptions here.
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Please understand that this information is provided for illustration purposes only and is not legal advice. If you would like more information about exemptions, please call our 24-hour toll free hotline at 1 (877) 349-1309 or use our free online evaluation form to get started with your bankruptcy case today!
Note: Laws may have changed since our last update. For the latest information on your state’s bankruptcy laws, speak to a local bankruptcy lawyer.