Louisiana has laws regarding the time frame during which a debtor may be sued for an outstanding debt. The laws stipulate what the state has judged as a reasonable period of time within which creditors may attempt to collect an unpaid debt through the courts.
Types
The laws establish four types of debt: oral contracts, written contracts, promissory notes and open accounts.
Significance
Each debt type has a statute of limitations, beyond the expiration of which a creditor may not sue a debtor.
Written Contract
A written contract is a contract in which the terms have been specified on paper and signed by the debtor.
Time Frame
The statute of limitations on a written contract in Louisiana is 10 years. Until this time has passed, a debtor is at risk for being sued by a creditor.
Considerations
A creditor who files suit in connection with a written contract before the statute of limitations has passed may be able to garnish up to 25 percent of the debtor's wages, according to Louisiana garnishment laws.
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