This page provides general legal information and calculation tools, not legal advice. DocketMath is not a law firm and does not provide legal representation, and using this site does not create an attorney-client relationship. Laws change and exceptions apply, so deadlines and amounts specific to your situation should be confirmed with a licensed attorney in your jurisdiction.

Bankruptcy Exemption in Louisiana

Louisiana law permits a bankruptcy debtor to exempt up to $35,000 of equity in their principal residence under the homestead exemption. This rule is governed by La. R.S. § 20:1, which sets out the specific conditions and limits, and is applied in bankruptcy through 11 U.S.C. § 522(b)(2), allowing states to opt out of the federal exemption scheme. Additional exemptions for personal property, such as those under La. R.S. § 13:3881 and La. R.S. § 20:33–34, cover other assets but do not alter the homestead cap. The worked example below illustrates how the $35,000 figure applies. For a precise estimate based on individual circumstances, the DocketMath calculator can compute the applicable exemption amount.

Governing authority

In Louisiana, the bankruptcy exemption rule is set by La. R.S. § 20:1; La. R.S. § 13:3881; La. R.S. § 20:33; La. R.S. § 20:34; 11 U.S.C. § 522(b)(2). The verified packet cites La. R.S. § 20:1; La. R.S. § 13:3881; La. R.S. § 20:33; La. R.S. § 20:34; 11 U.S.C. § 522(b)(2) (https://www.legis.la.gov/legis/Law.aspx?d=77632).

Louisiana bankruptcy exemption: the verified value is $35,000 under La. R.S. § 20:1; La. R.S. § 13:3881; La. R.S. § 20:33; La. R.S. § 20:34; 11 U.S.C. § 522(b)(2). The verified packet cites La. R.S. § 20:1; La. R.S. § 13:3881; La. R.S. § 20:33; La. R.S. § 20:34; 11 U.S.C. § 522(b)(2) (https://www.legis.la.gov/legis/Law.aspx?d=77632).

Estimate your own result: every situation has exceptions that can change the outcome. Use the bankruptcy exemption calculator to estimate your specific figure.

This page provides general legal information and calculation tools, not legal advice. DocketMath is not a law firm and does not provide legal representation, and using this site does not create an attorney-client relationship. Laws change and exceptions apply, so deadlines and amounts specific to your situation should be confirmed with a licensed attorney in your jurisdiction.