Louisiana Demand for Payment of an Open Account by Creditor
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How to fill out Demand For Payment Of An Open Account By Creditor?
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FAQ
Debts from a breach of contract in Louisiana have a prescription period of 10 years beginning from the date of breach or last payment to the debt account. This period covers all types of general contracts except those assigned specific periods following their governing codes within the state's laws.
Louisiana Laws - Louisiana State Legislature. A money judgment rendered by a trial court of this state is prescribed by the lapse of ten years from its signing if no appeal has been taken, or, if an appeal has been taken, it is prescribed by the lapse of ten years from the time the judgment becomes final.
An action to recover costs, expenses, fees, and attorney fees may be brought no later than sixty days after the rendering of judgment by the district court, unless the district court decision is appealed.
A. A money judgment may be revived at any time before it prescribes by an interested party by the filing of an ex parte motion brought in the court and suit in which the judgment was rendered. The filing of the motion to revive interrupts the prescriptive period applicable to the judgment.
Under Louisiana law, in a lawsuit to collect money based on an open account, the creditor can get attorney fees and all court costs, unless the amount the court awards is less than they requested. Attorney fees of 25% of the total debt owed are common unless seriously challenged.
The state of Louisiana is unique in that nearly all civil actions have a one-year statute of limitations (most states range from two to five years for more claims). The exceptions are the three-year limits on collections of rent and debts and a 10-year statute of limitations for contracts and judgments.
The statute of limitations for most Louisiana debts is 10 years. Louisiana exempts 75% of wages from garnishment. Louisiana does not allow liens on personal property.
