BANKRUPTCY
EXEMPTIONSEXEMPTIONS: Both Federal & State
Debtors filing for bankruptcy must identify those assets which they wish to exclude from the bankruptcy estate. In other words, the debtor must specifically identify each asset he or she wishes to keep. If a debtor fails to list an asset that might otherwise be exempt, the bankruptcy trustee has the right to compel the debtor to turn that asset over to the trustee so that the trustee might sell it and distribute the proceeds to the various unsecured creditors.
Note, however, that all assets are not necessarily exempt. There are substantial limitations on which assets may be exempt, which limitations will either be governed by federal law or Texas law. It is up to the debtor to select which set of exemption statutes will apply to his or her case.
TEXAS EXEMPTIONS
Click for a list of the Texas exemptions that may be claimed when selecting the exemption scheme set forth in section 522(b)(2) of the United States Bankruptcy Code. Note that this list of exemptions may be supplemented with certain additional federal exemptions.
FEDERAL EXEMPTIONS
OTHER EXEMPTIONS
Click to for the federal exemptions that serve as a supplement to the Texas exemption laws. Please note the following exemptions can NOT be used with the federal bankruptcy exemptions set forth in section 522(d) of the United States Bankruptcy Code.
TEXAS EXEMPTIONS
Click for a list of the Texas exemptions that may be claimed when selecting the exemption scheme set forth in section 522(b)(2) of the United States Bankruptcy Code. Note that this list of exemptions may be supplemented with certain additional federal exemptions.
FEDERAL EXEMPTIONS
OTHER EXEMPTIONS
Click to for the federal exemptions that serve as a supplement to the Texas exemption laws. Please note the following exemptions can NOT be used with the federal bankruptcy exemptions set forth in section 522(d) of the United States Bankruptcy Code.
TESTIMONIALS
We received our Chapter 13 confirmation in the mail and I wanted to give you and Christine a big thank you. I know you had to work hard on this mess to get it to this point and we do appreciate it. Hopefully we can see this thing through and be completely debt free except the mortgage of course in the next few years. We are looking forward to that day.
Bob, I do not have the words to describe what I’m feeling right now. I’m so overwhelmed with relief, knowing that I can put this nightmare behind me. THANK YOU so much for representing me and getting me through this. Please know that you have changed my life in a positive way, and for that, I thank GOD and I am so grateful!
I assume you have some idea of what it may feel like to finally put something behind you that dominated your life and nearly destroyed your marriage. I cannot thank you enough for your professionalism, expertise and MOST importantly the support you and Barbara provided during this process. We are so very grateful.
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