Question
Chapter 7 bankruptcy Texas?
Ok so here's my stats: Im a 31 year old LVN, I make 2560 a month Gross, My unsecured (credit card) debts are about 40,000. Student loans which I will keep paying of 23,000. My car which I am keeping is 460 a month (26k owed) Then of course monthly bills. I have already met with a BK lawyer and as I just recently changed jobs, I was making more at the other one. I have to wait until September when I will fall under the maximum amount to file a CH 7 in Texas. I pretty much got in a bad marriage he didnt make much money and I was in college so we used MY credit cards for everything. Well now im working on divorce and also working on clearing up my life (credit). Lawyer told me to stop paying those debts that I plan on having discharged. So im saving that money but in cash in my apartment so it wont be in a bank account. My attorney fees will be $2009. Anyone have any advice on what to expect? I am upside down on my car. its blue book is about 18 k
6 months ago - 4 answers
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You'll probably receive a discharge of all credit card debts. Depending on the value of the car, you may be allowed to keep. (If it is upside-down, then the BK Judge might say, "No").
by zeuz- 6 months ago
If your wanting to keep your car then its not going to be included in BK. Your payment will be the same.
by B- 6 months ago
Don't keep your savings in cash or a checking or savings account. If you do, you'll probably use it in bankruptcy. Texas has a large amount of exemptions, so your car may be exempt (you may keep it). Other Texas exemptions include: 2 firearms, 2 horses or mules, saddles, 12 head of cattle, 120 foul. The total amount is $30,000 ($60,000 for head of family). Your student loan won't be discharged, so you should continue paying that.
by Edaphos- 6 months ago