Texas Bankruptcy Exemptions

Bankruptcy is a federal procedure dictated by federal code.  However, a state has authority to zone in on parts of federal law and make it more specific to that case.  The state of Texas provides some items that are exempt from liquidation in a bankruptcy.  Those items include the following:

Homestead - up to 10 acres in a city or 100 acres in a rural area.

Personal property such as burial plots, religious books, home furnishings and family heirlooms.

Wages - earned wages and some commissions that have not yet been paid

Pensions - for many state employees including teachers.

The Fears | Nachawati Law Firm is adept and experienced in the allowances made for bankruptcy in the state of Texas.  We are happy to assist you with your bankruptcy needs.