Louisiana Bankruptcy Exemptions

Homestead

20:1 - Property you occupy 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. Spouse or child of deceased owner, or spouse obtaining home in divorce may also claim the exemption.

Personal Property

8:313 - Cemetery plot and monuments.

9:2004 - Spendthrift trusts.

13:3881 - Living room, dining room, and bedroom furniture; clothing; chinaware, glassware, utensils, and silverware (but not sterling); refrigerator, freezer, stove, washer and dryer; bedding and linens; family portraits; musical instruments; heating and cooling equipment; pressing irons and sewing machine; arms and military accoutrements; poultry, household pets and 1 cow; engagement and wedding rings up to $5,000; disaster relief insurance proceeds; motor vehicle up to $7,500.

Wages

13:3881 - The greater of the following: 30 times the federal minimum hourly wage per week or minimum 75% of disposable weekly earnings. Judge may approve more for low income debtor.

Pensions

11 U.S.C. § 522 - Tax exempt retirement accounts; Traditional and Roth IRAs up to $1,095,000 per person.

13:3881 - ERISA-qualified benefit contributions, if deposited more than 1 year before filing.

20:33 - Gratuitous payments to employee or heirs from employer, whenever paid.

11.1003 - School employees

11.1378 - Judges

11.1403 - Assessors

11.1526 - Court clerks

11.1583 - District attorneys

11.1735 - Municipal employees

11.1905 - Parochial employees

11.2033 - Voting registrars

11.2182 - Sheriffs

11.2263 - Firefighters

11.3513 - Police officers

11.405 - State employees

11.704 - Teachers

11.952.3 - Louisiana University employees

Public Benefits

23:1205 - Workers' compensation.

23:1693 - Unemployment compensation.

13.3881 - Earned Income tax credit.

46:111 - Public assistance; Aid to blind, aged, and disabled.

46:1811 - Crime victims' compensation.

Tools of Trade

13:3881 - Tools, books, instruments, motor vehicle up to $7,500, and one firearm up to $500 needed for work.

Insurance

22:558 - Fraternal benefit society benefits.

22:646 - Health, accident or disability proceeds.

22:647 - Life insurance proceeds up to $35,000 if policy was issued within 9 months of filing; annuity contract proceeds.

22:649 - Group insurance policies or proceeds:

Miscellaneous

13.3881 - Property of a minor child.

Other - Add any applicable Federal Nonbankruptcy Exemptions


HOME BANKRUPTCY STEPS FREE CONSULTATION EMERGENCY FILING


This website contains information related to law and is NOT LEGAL advice. It contents is for information only. If you need legal advice, please consult an attorney or act as your own.
All documents typed are prepared by Rica Gilmore.