Louisiana Collection Laws
Many states impose responsibilities, liabilities and penalties upon companies for activities of Louisiana debt collectors engaged by them in the collection of debts. You need to know the Louisiana collection laws and state debt collections law.
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You can be held accountable for what your Louisiana collection attorney does or
doesn't do. You must know the Louisiana collection laws, and the information here
can reduce your liability by giving you the state debt collections law
information for making informed decisions. Please study the Louisiana collections laws listed below
and make sure your Louisiana collection lawyer abides by them to the letter.
Debt collections law vary, and knowing the right collection
law for your state and your debtor's state is essential. Here you can read up
on: Louisiana Statute of Limitations, Louisiana Judgments, Louisiana Garnishments,
Louisiana Interest Rates, Louisiana Bad Check Laws and Louisiana Collection Agency
Requirements.
Louisiana Revised Statute Title 47, Section 1516 and 1516.1
INTEREST RATE
Legal: 9.75%
Judgment: 9.75%
STATUTE OF LIMITATIONS (IN YEARS)
Open Acct.: 3
Written Contract: 10
Promissory Notes: 5
Domestic Judgment: 10
Foreign Judgment: 10
BAD CHECK LAWS (CIVIL PENALTY)
After 30 day written demand (certified or registered), twice check amount.
Attorney fees & court costs
GENERAL GARNISHMENT EXEMPTIONS
75% disposable earnings per work week, but not less than 30 x fed. min. hourly
wage.
COLLECTION AGENCY BOND & LICENSE
Bond: Yes - $10,000
License: Yes
Fee:
$200 Initial
$200 Investigation
$200 Renewal
$100 Branch
$100 Branch Renewal
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