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Did you know that after a certain amount of time in Louisiana you can wipe out debts? True story!

I know it sounds cliche, but I've been doing the whole 'new year, new me' and part of that has been listening to a podcast from Kevin Trudeau called Think Now. It's all about building wealth and eliminating stress which is good for your overall health emotionally and financially and can even help your marriage!

In Louisiana, we're not known for our financial health. But did you know, that according to ProtectingConsumerRights.com, in Louisiana, the statute of limitations for contracts whether oral or written is 10 years?

Now just because you've had a certain bill or debt for ten years or more, it doesn't mean that you automatically don't have to pay for it anymore. After all, most mortgages are 30-year loans. However, ProtectingConsumerRights.com says, 'Creditors have a limited period of time in which to file suit over an unpaid debt. Each type of debt has a specific time period in which a lawsuit can be filed against someone who owes a debt so that the one who is owed can obtain a judgment. The judgment allows one to pursue assets and wages, and force payment through involuntary means.'

What is a 'Statute of Limitations?'

ProtectingConsumerRights.com adds that a 'statute of limitations' as referenced above, 'That limited time period is known as the statute of limitations. Once that limitation period passes, and no lawsuit was filed, the debt does not need to be paid by the consumer. As a rule of thumb, a creditor relinquishes its right to file suit and collect a debt that it is owed after this time period has expired."

Is the 'Statute of Limitations' the same for all kinds of debt?

No. The 'statute of limitations' is different with regard to different kinds of debt. ProtectingConsumerRights.com says, 'Open accounts, like credit card agreements, have a much shorter statute of limitations period of 3 years as do lawsuits, which are filed but not pursued. Judgments both domestic (in-state) and foreign (out of state) have a limitations period of 10 years and if not the judgment is not renewed within the ten years, it becomes a nullity.'

The good news? Debt relief exists for Louisiana residents. You just have to do the research to make it happen. Don't forget to search websites like Grants.gov and Benefits.gov for free money!

Top 10 Most Dangerous Towns in Louisiana

Louisiana has tons of awesome people and charm. Along with all of the good stuff, we've got some pretty dangerous parts. Below, you'll find the top 10 most dangerous towns in our state based on the likely hood a crime will affect the average citizen living there. Some of these entries are what you'd expect, but others were complete surprises to me. Watch your back as you travel through the Sportsman's Paradise - especially if you happen to pass through these towns.

Take a Peek at Pure Luxury in Louisiana's 2nd Most Expensive Home

These Amazing Louisiana Kids Are Looking for a Forever Home

If you grew up in a home with at least one of your parents, count your blessings. If you've got room in your home and your heart, maybe you could be that blessing for one (or more) of these amazing kids. If you'd like to find out more about adoption or foster care, you can visit the experts at Adopt US Kids.