702-800-9999

Free Debt Evaluation 24/7

State of Louisiana Economy:

Louisiana is strategically located, making the state a prime environment for natural resource production and agriculture. Oil, natural gas, commercial fishing, chemicals, and agriculture are five industries that are a vital part of the state’s economy.

Louisiana Bankruptcy Court Locations:

Eastern District of Louisiana

U.S. Bankruptcy Court
500 Poydras Street
Suite B-601
New Orleans, LA  70130

Western District of Louisiana

U. S. Courthouse
300 Jackson Street
Suite 116
Alexandria, Louisiana 71301-8357

Louisiana Bankruptcy Exemption List

You’ll find some of the more common Louisiana exemptions below. Here are a few things to keep in mind:

Louisiana debtors use state exemptions. Bankruptcy filers in Louisiana can exempt property only using the Louisiana state exemptions. Louisiana is an “opt out” state that doesn’t allow residents to use the federal bankruptcy exemptions.

Spouses can double Louisiana exemptions. Married couples filing a joint bankruptcy in Louisiana can each claim the full exemption amount for most property that they own together. For instance, if both spouses own household goods, they can double the personal property exemptions (everything other than real estate) and protect more property equity. Spouses can’t double the homestead exemption.

Finding the law. Unless otherwise noted, all references are to the ⦁ Louisiana Revised Statutes Annotated.

 

Louisiana COVID-19 Exemption

Louisiana is the first state to exempt stimulus payments related to COVID-19. You’ll use the new law to protect your payments from all creditors other than those collecting spousal or child support. This law doesn’t apply to increases in unemployment compensation received due to COVID-19, however. La. Rev. Stat. Ann. §13:3881(A)(10).

Louisiana Homestead Exemption

You can protect up to $35,000 in equity in the home in which you live and the land on which it sits. The Louisiana homestead exemption is limited to five acres if it’s located in a town or city and up to 200 acres outside of the metro area. For obligations arising as a direct result of a catastrophic or terminal illness or injury, you can exempt the full value of the home. Spouses cannot double the Louisiana homestead exemption. La. Rev. Stat. Ann. § 20:1

Louisiana Motor Vehicle Exemption

To $7,500 of equity in one motor vehicle used by you and your family. You may also exempt up to $7,500 of equity in one motor vehicle which is modified or fitted to assist you or a family member with a physical disability. La. Rev. Stat. Ann. § 13:3881(A)(7), (8)

Other Louisiana Exemptions

  • Personal property. The household goods and furnishings, appliances, clothing, family portraits, arms and military accouterments, musical instruments, poultry, fowl, one cow, dogs, cats, other household pets, and wedding or engagement rings up to $5,000 in value. La. Rev. Stat. Ann. § 13:3881
    The money you receive from the Federal Earned Income Tax Credit is exempt, as well as your guns and ammunition up to a value of $2,500. La. Rev. Stat. Ann. § 13:3881
    You can also protect cemetery spaces and a spendthrift trust. La. Rev. Stat. Ann. §§ 8:313, 9:2004
    )
  • Tools of the trade. Tools, instruments, books, and one utility trailer. La. Rev. Stat. Ann. § 13:3881
  • Wages. 75% of disposable earnings or 30 times the federal minimum wage, whichever is greater. La. Rev. Stat. Ann. § 13:3881
  • Pensions Retirement, and Life Insurance Benefits.All qualified pensions, tax-deferred arrangements, annuity contracts, and proceeds of and payments under tax-deferred arrangements and annuity contracts, except as needed to satisfy support obligations. La. Rev. Stat. Ann. § 13:3881
    Retirement benefits are also exempt for:
    ⦁ State employees. La. Rev. Stat. Ann. § 11:405
    ⦁ Teachers other than for support obligations. La. Rev. Stat. Ann. §§ 11:704, 20:33(1)
    ⦁ Orleans Parish School employees. La. Rev. Stat. Ann. § 11:951.3
    ⦁ Louisiana State University employees. La. Rev. Stat. Ann. § 11:952.3
    ⦁ School employees other than for support obligations. La. Rev. Stat. Ann. § 11:1003
    ⦁ Judicial members other than for support obligations. La. Rev. Stat. Ann. § 11:1378
    ⦁ La. Rev. Stat. Ann. § 11:1403
    ⦁ County clerks other than for support obligations. La. Rev. Stat. Ann. § 11:1526
    ⦁ District attorneys. La. Rev. Stat. Ann. § 11:1583
    ⦁ Municipal employees other than for support obligations. La. Rev. Stat. Ann. § 11:1735
    ⦁ Parochial employees. La. Rev. Stat. Ann. § 11:1905
    ⦁ Registrar of voters. La. Rev. Stat. Ann. § 11:2033
    ⦁ Municipal police. La. Rev. Stat. Ann. § 11:2228
    ⦁ Firefighters, sheriff, and police (other than for support obligations in some cases). La. Rev. Stat. Ann. §§ 11:2182, 11:2263, 11:3140, 11:3513, 33:2035
    ⦁ City of Alexandria employees. La. Rev. Stat. Ann. § 11:3014
    ⦁ City of Monroe bus driver. La. Rev. Stat. Ann. § 11:3770
    ⦁ City of Monroe electrical workers. La. Rev. Stat. Ann. § 11:3770
    ⦁ City of New Orleans Sewage and Water Board. La. Rev. Stat. Ann. § 11:3823
    Qualified retirement accounts are exempt under the federal rules and can be used in every state, regardless of the exemption scheme used.
  • Insurance Benefits. You can protect some life insurance benefits, including the insurance proceeds for exempt property damaged by a natural disaster, fraternal benefit society benefits, and accident and health insurance proceeds. La. Rev. Stat. Ann. §§ 13:3881, 22:558, 22:564, 22:646, 22:647.
  • Miscellaneous Louisiana Exemptions. ⦁ Fraternal benefit society benefits. La. Rev. Stat. Ann. §§ 22:558, 22:564
    ⦁ Workers’ compensation other than support obligations. La. Rev. Stat. Ann. § 23:1205
    ⦁ Unemployment compensation. La. Rev. Stat. Ann. § 23:1693(A)
    ⦁ Public assistance. La. Rev. Stat. Ann. § 46:111
    ⦁ Crime victims’ compensation. La. Rev. Stat. Ann. § 46:1811

Get our FREE "Bankruptcy" E-Book Today!

FREE "Bankruptcy" E-Book Now