Posted on March 3, 2010 at 2:58 am Hi, could you tell me the Louisiana debt statute of limitations? What does it say?

Posted on March 3, 2010 at 3:34 am Louisiana debt statute of limitations?Contracts: 10 years.Open accounts: 3 years.Lawsuits, which are filed but not pursued, become null three years after the last action taken.Judgment: 10 years, and if not renewed within the ten years become a nullity

Posted on March 3, 2010 at 3:41 am Louisiana debt statute of limitations - I'm not sure if there's a different set of rulesin Louisiana like in California - but basically, when the SoL on debt collection isup in a state - it means that the collectors even if they sue you for judgment -would come against the SoL defense - that is if you use it against them.

Posted on March 3, 2010 at 3:44 am Speaking of judgment - if you're wondering what it is - it's a legal right by your creditor/collectorto: garnish your wage or levy your bank account or put a lien on your property. Any of thosecan be done to you (unless your state has a rule against it).

Posted on March 3, 2010 at 3:52 am Hello, I checked in the FTC site if Louisiana has its own collection rules -Sale of goods under the Uniform Commercial Code:Transactions for the sale (and leasing) of goods is governed mainly by sales laws of each state. Every state, with the exception of Louisiana, has adopted, Article Two of the Uniform Commercial Code (UCC) as the main body of law regulating transactions in goods. Goods are defined as all things movable and identified to the contract of the sale. It does not include secured transactions, leases, money exchanged as the price, or real property (land and property permanently attached to a piece of land). To be identified to the contract a good must be existing and one of the objects that is or will be exchanged. Transactions between merchants and consumers and those solely between merchants are regulated by Part Two. All transactions that are for more that $500 must be in writing. 

Posted on March 3, 2010 at 5:03 am Right. It's a common mistake to think that once the SoL is up on a debt -that collectors would not sue. They would actually sue until you put up theSoL defense. And you still owe that debt. I read somewhere that - technically -debt collectors can attempt to collect forever. So ..it's wiser to find ways topay what you owe. That is, if it's validated. If it's really yours.

Posted on March 3, 2010 at 5:05 am I'll follow up on question - could you tell me the Louisiana debt statute of limitations? What does it say?---- with WHAT ARE THE WAYS TO PAY CREDIT CARD DEBT on a tight budget?

Posted on March 3, 2010 at 6:12 am Via debt relief programs. The program fees are significantly lower than the regularmonthly payments. For example with debt settlement  - It is 15% of the total debt amount. - if the requirement is for theconsumer to have a debt amount of close to $10,000 (accounts past due or almost) - his/her monthly fee is $150/mo. Don't forget to ask though about the other fee structures.