Louisiana Debt Solutions

Learn about debt relief options in Louisiana

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What are your Louisiana Debt Relief Options?

Looking for the best debt relief programs in the state of Louisiana? You’ve come to the right place. Unemployment in the Pelican State is one of the highest in the United States, and unfortunately, many households are in a dire financial situation. If you find yourself in debt and are not sure how to get out, you need to look at a Louisiana debt program that will work for your individual situation.

Who qualifies for debt relief in Lousiana?

Whether you are facing daunting credit card debts mortgage debt or other financial issues, help is available. Louisiana averages $5,359 in credit card debt per household. So if food, energy, and transportation costs have busted your budget, the first step in reclaiming your financial life is getting the Louisiana debt relief information you need to find a debt relief program that will work for you.

What is the debt statute of limitations for Louisiana debt?

For families living in Louisiana, the state offers protection and programs like Louisiana debt consolidation programs, or other debt relief plans. Understanding the state’s statutes of limitations is important to know your rights under the consumer protection laws. Although it varies state by state, the statute of limitations is a specific limitation on the time in which creditors can file legal action against you for past due debts. In the Pelican State, the statutes of limitations on outstanding debts include:

  • Oral Contracts—10 Years
  • Written Contracts—10 Years
  • Promissory—10 Years

Additionally, the state’s consumer protection laws ensure that collection efforts conform to established norms and procedures that limit the hours and places they can call to reach you for payment.

What are the Lousiana Debt Collection laws?

Louisiana follows the set of laws known as the Fair Debt Collection Practices Act.

Details include:

  • Creditors cannot contact anyone not residing or present in the debtor’s home (except credit bureaus and other creditors), unless the original creditor a) is determining the debtor’s current location if the creditor has reason to believe he or she moved or changed jobs; or b) is seeking property owned by the debtor for the seizure to satisfy the debt; or c) the debtor consented.
  • Creditors can only mail one notice per month after a debtor has told the creditor to stop contacting them.
  • Creditors can contact the debtor up to four times in order to settle the debt.

Maximum Interest Rate a Collection Agency Can Charge in Louisiana: 12%

Louisiana Wage Protection: 75% of disposable weekly earnings (after-tax income) or 30 times federal hourly minimum wage.

Louisiana Debt Settlement vs Debt Consolidation

Trying to find out the difference between debt settlement and consolidation? Louisiana residents should learn all their options before making a choice on which debt relief services are available and which one to choose. Debt settlement is when your credit card debt is negotiated to a lower amount. Credit cards need to be delinquent for this option.  Debt consolidation is when you move all your credit card balances to a personal loan or new line of credit. You need a good credit score for this option.

Has your financial situation been affected by covid in Lousiana?

Millions of people have been negatively affected by the Covid-19 pandemic. If you’ve relied on credit cards to get by and are now having trouble paying them off, you could qualify for an Americor debt relief program.

Find the best Louisiana Debt Relief Option for you.

It’s time to find your debt freedom. You don’t need to lose sleep at night over your debt, but you do need to get control of your finances if you ever hope to sleep soundly again. You need to discuss the range of debt relief options available to you, and our team of financial experts is standing by to help you with the Louisiana debt relief program you need help you to get back on a good financial footing.

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