Texas Bankruptcy Laws

Federal and Texas bankruptcy laws allow debtors to keep certain property

In Texas, a debtor has the choice of using either the federal exemption statutes or the Texas exemptions.

Under the federal exemptions, as a debtor you can keep the following:

  • Your home, including co-op or mobile home, to $20,200
  • Life insurance payments for the person you depended on, needed for support
  • Life insurance policy with loan value, in accrued dividends or interest to $10,775
  • Unmatured life insurance contract, except credit insurance policy
  • Alimony, child support needed for support
  • Pensions and retirement benefits
  • Health aids
  • Jewelry to $1,350
  • Lost earnings payments
  • Your motor vehicle to $3,225
  • Personal injury compensation payments to $20,200, wrongful death payments, crime victims' compensation, public assistance, Social Security, unemployment compensation, and veterans' benefits
  • Tools of trade up to $20,200
  • Wild card - $1,075 of any property plus up to $10,125 of any amount of unused homestead exemption
  • ERISA-qualified benefits needed for support
  • $550 per item in any household goods up to a total of $10,775

Corpus Christi bankruptcy law

Under the Texas exemptions, in Corpus Christi, bankruptcy laws allow you generally to keep the following:

  • $30,000 worth of personal property ($60,000 for head of family), including one two-, three- or four-wheeled vehicle; two horses, mules or donkeys and a saddle, blanket and bridle for each; 12 head of cattle; 60 head of other livestock; 120 fowl; pets. Athletic and sporting equipment, home furnishing, family heirlooms; food and clothing; jewelry (but not to exceed 25 per cent of total exemptions); tools of your trade
  • Your home, if not more than 10 acres in town or 100 acres out of town (200 acres for families)
  • Unemployment, disability, veterans', workers' compensation and Social Security benefits
  • Retirement plan and life insurance proceeds
  • Alimony and child support
  • Business partnership property
  • Farming or ranching vehicles and implements
  • Burial plots
  • Health aids

The skilled legal guidance you need

A lawyer skilled in bankruptcy law in Corpus Christi at the Cavada Law Office can answer all your questions about bankruptcy laws in Corpus Christi. The firm has years of experience representing corporations and individuals in all types of Texas bankruptcy proceedings. To schedule a free consultation to discuss your case with us, contact us today.


4646 Corona, Suite 165   •   Corpus Christi, TX 78411   •   Telephone: 361-814-6500   •   Fax: 361-814-8618
LexisNexis Martindale-Hubbel

This web site is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship. [ Site Map ] [ Bookmark Us ]