The main goal of federal bankruptcy law is to provide the honest debtor with a fresh start. To help you detemine whether or not you need a fresh start, please feel free to use our credit card debt calculator to see how long it will take to pay off your credit card debt.
Bankruptcy is initiated by filing a petition. You must also file a statement of your assets and liabilities and schedules listing all of your creditors.
Any property a debtor can keep after the bankruptcy is determined by the specific exemptions available under state law. Our Texas Bankruptcy Information website allows you to search for exemptions. Fortunately, Texans are allowed some federal exemptions in addition to state exemptions, so please check those out as well.
Before you declare bankruptcy, be sure to check out our list of recommended alternative options. We have also setup a Frequently Asked Questions section to answer some of the most common and basic questions you might have about bankruptcy in Texas.