What happens when you file for bankruptcy?

[sogwap]

Texas

Can anyone tell me what exactly happens when you file for bankruptcy in Texas, meaning can they or do they own your home, land, etc. (if you own it)? How long before your credit is clean, etc. Do you have to have an attorney?

I know NOTHING about it.

 

[justalayman]

what do you mean "what happens...?"

 

[bigun]

Yeah you asked a pretty broad question. A lot of things can happen depending on your income and equity in the property you own and a few other things.

Here are Tx. exemptions-they're pretty generous.

Texas Bankruptcy Exemptions TX Bankrupcy Exemtions

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