Each of the states throughout the USA has their own state bankruptcy laws, as a well as, the federal bankruptcy laws that they need to follow. Each state is different. The majority of the bankruptcy laws in Texas that are followed are the federal ones. A good example of this is the exemptions that you can use as a means for protecting your property. In Texas you can choose to use either the federal bankruptcy exemptions or you can use the state exemptions; however you will not be able to use both. You must choose one or the other.
Another rule of the Texas bankruptcy is that you must complete a credit counseling course. This is mandatory and once you have completed this you will receive a certificate of completion which must be filed with the bankruptcy courts. This course must be completed and filed within a 180 day period before you file your bankruptcy.
Then after you have filed your bankruptcy you have to take another course. This course is called the debtor education course. You will not be able to receive a bankruptcy discharge unless the course has been completed as outlined by the courts. No matter what state you are filing for bankruptcy in it is always a wise idea to utilize the services of a qualified bankruptcy attorney. These are the professionals that know the law of your state and what the requirements are no matter whether you are qualifying for a Chapter 7 or Chapter 13 bankruptcy.
One of the benefits of applying for bankruptcy in Texas is that there is a great homestead exemption as well as specific exemptions for your belongings that can be utilized.
Contact us today for a free consultation and discover the many benefits of having an experienced bankruptcy attorney on your side.