Bankruptcy and Judgments: What are the State Exemptions for Texas?
Wednesday, January 13th, 2010Texas has very favorable exemptions for the consumer. You can think of exemptions as those items you are allowed to keep if you are sued by a creditor who obtains a judgment against you. A creditor can’t force you to sell your home in Texas, and in true Texas spirit, they can’t force you to sell your guns either. There is one major exception to the liberal rules for judgment exemptions: a homestead isn’t protected if you are sued by the federal government, so make sure you pay your income taxes!
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