BANKRUPTCY EXEMPTIONS IN TEXAS
COUNSEL FROM SEASONED DALLAS BANKRUPTCY LAWYERS
Filing for bankruptcy can seem like a daunting task. What will happen to your assets? Will you get to keep your home, your car, or your belongings? While you may feel like choosing to file will result in the loss of all your property, this is not always the case. When you work with a Board Certified Dallas Bankruptcy Lawyer, like the ones at Fuller & Eason, you can be confident that your exemptions will be maximized to preserve as much property as possible.
At our firm, we have more than two decades of experience that we can utilize to benefit your case. Not only do we understand the ins and outs of bankruptcy law, but we are also well aware of the personal element of filing for bankruptcy. We are here to walk you through each and every step, ensuring you are able to pursue the debt-free future you deserve.
Have questions about exemptions? Contact us now for your free bankruptcy evaluation!
WHAT EXEMPTIONS DO I QUALIFY FOR?
Texas has certain laws that dictate the amount of exemptions available to individuals seeking to file bankruptcy. When you work with a seasoned legal advocate, you can craft a plan that utilizes each exemption as effectively as possible.
Depending on the chapter you choose to file, you may be able to use the following:
- Texas homestead exemption: Property cannot exceed 10 acres within a city or town, or 100 acres for individuals and 200 acres for families in other areas.
- Texas auto/truck exemption: One motor vehicle can be exempted for each family member or single adult who holds a driver’s license or relies on another to drive them.
- Texas personal property exemption: This covers clothing, food, furniture, family heirlooms, pets and some livestock, tools and equipment, and additional possessions.
You may also chose to use federal exemptions, however, you cannot use both state and federal. It is also important to note that if you elect to file jointly as a married couple, you are each entitled to your own exemptions, which means you could double the amount of property you exempt.
DON’T WAIT—FINANCIAL FREEDOM IS JUST A PHONE CALL AWAY!
At Fuller & Eason, we understand that navigating the bankruptcy process can be extremely challenging. That is why our firm is here to provide the support and guidance you need to make the most of the exemptions available to you. Let us review your case today and help you determine whether you should utilize state or federal exemptions for your filing.
Now is the time to take the first step! Reach out to our Dallas bankruptcy lawyers today.