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.
Note: Exemptions may have changed since our last update.
» Read the complete Louisiana bankruptcy
exemptions here
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