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Texas Bankruptcy Exemptions - All Categories

A detailed listing of state and federal exemption laws, with statutory citations.

Texas Exemption Updates

If there's changes in Texas’s exemptions, here's where you'll find out about them.

Is Texas Adjusting Its Bankruptcy Exemptions for Inflation in 2023?

The Federal Government adjusts Federal exemption amounts every three years. Does Texas adjust exemption amounts?

Can I Use the Federal Bankruptcy Exemptions in Texas?

Federal bankruptcy law has its own list of exemptions 11 U.S.C. § 522, but some states require you to use only the state law exemptions instead, while other states offer a choice of the state or federal exemptions. Find out what Texas does.

Bankruptcy Exemptions FAQ

Your questions about bankruptcy exemptions, answered.

Can I Keep My Car or Truck If I File For Chapter 7 Bankruptcy in Coryell County, TX?

The answer is, it depends.. on a lot of things: Do you lease or own? If you own the car and are making payments on it, how much of the equity in the car is protected by exemptions allowed in Texas? Most people who file for bankruptcy can end up keeping their car, or at least some kind of vehicle that can get them to work and back, but the answer depend on your particular circumstances.

Can I Keep Property That I've I Pledged as Collateral For a Debt?

When you file, you'll be asked by the court to decide what you want to do about property you've pledged as collateral, and then you have 45 days to act on it. Your options include surrendering the property, "redeeming" the property by essentially buying it outright at it's current (reduced) market value, or "reaffirming" the debt via a contractual agreement to retain your personal liability and keep making payments, or in some cases, "ride through" - that is, keep making payments on the secured debt even though your personal liability has been wiped out.

Can I Give Property Away To Friends Or Relatives To Avoid Losing It In Bankruptcy?

The short answer is “no.” Such transfers in the years before bankruptcy can be undone by the trustee. And if the court thinks you’re tying to hide assets they can deny your discharge.

What Happens to My Property If I File For Chapter 7 Bankruptcy In Texas?

It's important to have a good understanding of what will happen to your property if you file for Chapter 7 bankruptcy.

What Will Happen to My Home If I File For Bankruptcy in Texas?

Whether you can keep your house depends on several things, your mortgage, your state's homestead exemption, and foreclosure rules in your state.

Texas Exemption Notes

A capsule summary of exemption law in Texas

Can Bankruptcy Prevent Foreclosure in Texas?

If you own your home and are facing foreclosure, Chapter 13 is the most likely type of bankruptcy you'd file if you plan to keep your home. Here's why.

Texas Motor Vehicle Exemption & Other Personal Property Exemptions

How much equity in your car or truck can you protect if you file for bankruptcy in Texas?

Texas Wage Garnishment Exemption

Wages are protected by federal non bankruptcy law, and by state wage garnishment laws, which are generally more generous than the Federal wage garnishment protection. There are typically exceptions to this exemption for things like child support, and other priority debts.

Texas Tools of Trade Exemptions

Most states allow an exemption for "tools of trade or profession"... this can include tools, books, even vehicles. Sometimes can be an alternative to the motor vehicle exemption.

Public Benefits Exemptions for Texas

Texas Insurance Exemptions - Life, Disability, Survivors Benefits

Most states have exemptions for life insurance but it's important to figure out what part of the insurance is exempt. Also disability and survivors benefits are often exempt

Texas WildCard Exemption

Almost every state has an exemption for "any property" which is sometimes called the "wildcard" or "grubsteak" exemption. Generally this exemption is useful because it can be combined with other exemptions to fully protect equity that might otherwise go unprotected.

Texas Pension and Retirement Exemptions
Will I Lose My Retirement Savings If I File For Bankruptcy?

Retirement accounts that are recognized by the IRS are exempt by law in bankruptcy up to over a million dollars. State law may provide additional protection for specific kinds of pensions, under state law.

Texas Miscellaneous Exemptions

Are Child Tax Credit (CTC) Payments Exempt From Creditors in Texas?

The federal government Child Tax Credit (CTC) payments are subject to attachment by creditors unless protected by a state exemption.

Table of Federal Bankruptcy Exemptions Under §522(d)

Federal Bankruptcy Exemptions can be used in 20 states and the District of Columbia

Table of Federal “Non-Bankruptcy” Exemptions

Some exemptions exist under Federal law, wholly separate from the bankruptcy code, and protect such assets from the reach of creditors regardless of whether bankruptcy is at issue. These exemptions can only be claimed if you are using state exemptions, (regardless of whether a state has 'opted out' of the federal bankruptcy exemptions under § 522(d)).

What Happens to Funds In My Bank Account if I File For Bankruptcy In Texas?

Monies received from exempt sources might lose their exempt status if co-mingled with non exempt funds in your bank account. Here are some tips about how to protect your assets when it comes to bank accounts.

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