Self Help Repossession Notices are Often Targeted: The Louisiana Additional Default Remedies Act provides the “self-help” laws permitting creditors to repossess motor vehicles and motorcycles directly. This is a form of non-judicial repossession that creditors can do themselves. It can certainly save a creditor some court and legal fees, but certain steps must be carefully followed, especially if the creditor wishes to later pursue a deficiency judgment. Basic Requirements of Repossession Notices: A number of notices or letters must be sent to the debtor in order to properly effect a “self-help” repossession and to later be able to sue the debtor
Author: Maro Petkovich, Jr.
Mr. Petkovich serves as the firm’s managing partner. His practice centers on representing regional and national lending institutions. He also handles estate planning, successions, and personal injury matters on a routine basis.
Health Care Decisions without Medical Power of Attorney: If a person is unable to make decisions about personal medical care, some other person must provide direction in decision making. Many people create a medical power of attorney in advance of any anticipated physical problems. A power of attorney allows them to appoint an agent or representative to manage their affairs when they become unable to do so themselves. However, if there is no medical power of attorney in place and no judicially appointed tutor or curator, then health care professionals usually rely on the next of kin or even a close
How Attorneys Collect Foreign Judgments Across State Lines: Debtors often move across state lines. A judgment in one state is virtually unenforceable if the debtor does not hold property there or is not working there. When a debtor or assets are discovered in another state, collection attorneys must take extra steps to enforce a foreign judgment in that state. The United States Constitution requires that states give “full faith and credit” to the laws and court judgments of other states. Most states have therefore enacted laws that provide the procedure for enforcing an out-of-state judgment. However, the process varies widely
Successions When a Legatee or Heir Dies: Successions are either intestate or testate. Intestate successions occur when there is no will, the will is invalid, or the will does not dispose of all the decedent’s property. Testate successions occur when there is a valid notarial or olographic will. An heir is a person who inherits property in an intestate succession. A legatee is a person who is bequeathed property in a testate succession. In Louisiana there are three ways to inherit: (1) in his or her own right, (2) via representation, or (3) via transmission. An heir inherits in his or her
Inheriting Mortgaged Property: In most instances, the estate debts must be fully paid during the succession proceedings. However, some debts such as mortgages are not easily paid in full. Clients often ask if they have to refinance when they inherit property with a mortgage. Heirs generally have a few options when inheriting mortgaged property. The property can be sold and the sale proceeds can pay off the mortgage. Other assets in the succession can be used to pay off the mortgage. The succession can be renounced, in which case the property will likely be foreclosed on if there are no
Forced Heirship and Collation: Forced heirship is unique to Louisiana and can dramatically impact your estate plan. Likewise, collation can have a profound impact on the forced portion and on your succession proceedings. Forced heirship is designed to prevent a person from disinheriting certain children or grandchildren. It was born under the presumption that parents desire to treat their children equally. What is Forced Heirship? Per La. Civ. Code art. 1494, a forced heir must receive a portion of their parent’s estate. This is so regardless of a will or trust to the contrary. For example, if a will leaves
Buy-Sell Agreements: Owners of closely held businesses may not think about what will happen when a co-owner wants to sell his or her interests in the business, unexpectedly passes away, files for bankruptcy, or goes through a divorce. If you don’t know what would happen to your business and its ownership in one of these situations, you should consider a buy-sell agreement or amending your existing business documents. Afterall, preparation and planning are essential to sustaining any business. These situations do not need to disrupt your business operations. Buy-sell agreements allow owners to avoid costly commercial litigation while preserving their involvement in
Importance of a Power of Attorney: Most people recognize the importance of comprehensive estate planning, although they may choose to avoid it for as long as possible. One important part of your estate plan is your power of attorney (POA). Basically, a POA is a document that empowers an individual to make legal decisions for you in the event that you become incapacitated or are unable to do so for yourself. You can choose the extent of the authority you grant in the “agent” by working together with an experienced estate planning attorney to determine how to best represent your
Fair Debt Collection Practices Act (FDCPA): The Fair Debt Collection Practices Act (FDCPA) regulates the collection practices of third-party debt collectors and law firms engaged in collections. The FDCPA is found at 15 USC 1692 et seq. It was designed to protect consumers by eliminating abusive, deceptive, and unfair debt collection practices. It also protects reputable debt collectors and law firms from unfair competition. Below is a comprehensive outline of restrictions and requirements that debt collectors must follow to ensure FDCPA compliance. When Does the FDCPA Apply? The FDCPA applies only to the collection of debt incurred by a consumer
Louisiana Default Judgment Laws: It has been a year since Louisiana’s new default judgment laws went into effect on January 1, 2022. Practitioners and judges alike have now had enough time to adjust to the changes in the law. As a practitioner who takes default judgments every week, these changes were of particular interest to myself, my staff, and my clients. One of the first questions I received last January was: “[i]s it going to be harder to get a default judgment?” My short answer then was that it appeared it would be a give and take; that one step