Texas Bankruptcy

Don’t let debt get you down. Filing Chapter 7 bankruptcy was created to eliminate debt and silence creditors. Talk to a Texas bankruptcy attorney today about your options.

Connect to a Texas bankruptcy lawyer—for free and with no obligation—by entering your ZIP code below and filling out a 2-minute bankruptcy evaluation form.

Filing Chapter 7 Bankruptcy in Texas

Texas residents struggling with their finances should know that Chapter 7 bankruptcy may be able to wipe out their debt once and for all.

We can help you understand the basics of filing bankruptcy in Texas–check out the below paragraphs for Texas bankruptcy information. But, most importantly, we can connect you with a local Texas bankruptcy lawyer. All you have to do is fill out the above form to get started. Make the first move right now and contact us today.

Texas Bankruptcy Laws

Chapter 7 bankruptcy, also known as a “liquidation” bankruptcy, involves a discharge of unsecured debt.

The liquidation (conversion of property to cash) comes into play during the sale of non-exempt assets. This means that when a person files Chapter 7 bankruptcy, a bankruptcy trustee can sell some of his or her possessions and use the money raised to pay off the debtor’s debt.

But don’t panic—most Chapter 7 bankruptcy filers get to keep most, and usually all, of their property.

Texas Bankruptcy Exemptions

Luckily, you don’t have to worry about losing all of your worldly possessions to the Texas bankruptcy court. Texas bankruptcy law outlines specific exemptions that detail which property you’re allowed to keep.

These exemptions include the following.

Homestead: The full value of your home. Homestead is limited to:

• 200 acres for a family outside a city or town.
• 100 acres for a single adult outside a city or town.
• 10 acres for anyone in a city or town.

Wages: 100 percent of your wages and personal commissions.

Vehicle: Full value of one automobile. Note: This value counts towards the $60,000 cap on personal property exemptions.

Personal Property:

• Up to $60,000 worth of any personal property, including car, for a family.
• Up to $30,000 worth of any personal property, including car, for a single adult.
• 100 percent of certain health aids and religious books. This exemption doesn’t count towards the total value cap.

Questions? Talk to a Texas Chapter 7 Bankruptcy Lawyer

If you’re still uncertain how to interpret Texas bankruptcy law, you’re not alone. A Texas bankruptcy lawyer can help determine which belongings are protected from the liquidation sale.

To get your Chapter 7 bankruptcy case started today, simply call us toll free at 877-226-6844 or fill out the above free online case evaluation form.

Make the first move right now and contact us today.

Note: Keep in mind all laws are complex. If you need legal advice or want to fully understand how these laws affect you, please speak with a local attorney.

Laws may have changed since our last update. For the latest information on your state’s bankruptcy laws, speak to a local bankruptcy lawyer.