Bankruptcy Law Questions? Ask a Bankruptcy Lawyer.
Thank you for giving me the opportunity to assist you. I encourage you to ask me for clarification, if you are not clear with my Answer.
Question: Citibank "mastercard" is suing my wife due to the fact that we cannot pay it and has raised the interest rate to 29.9% , the debt amount is $8,797.51.... They issued us a summons to court by a firm called Allen L. Adkins & Associates P.C. There wanting us to agree or deny the allegations in a reply letter. Are we protected under the laws of Texas? DO we just let it default and not respond or show up to hearing summons?
Response: If you do not have any non-exempt assets, then you do no need to bother with answering the lawsuit. Exempt assets mean those assets that cannot be touched by your creditors. Non-exempt assets means those assets that can be reached by your creditors. So, if all your assets cannot be touched, if they are all exempt, then the creditor is wasting its time filing a lawsuit. See Texas Property Code Sections 42.001 to 42.022 and Section 41.001 to 41.008:
The assets that are exempt are numerous in Texas, click on the links below to see the complete list.
Can they sieze our bank account and if so , would i need to take my wife off my bank account???
Response 1: Kindly review the links that I provided to you previously. The exemptions are numerous as to what the creditor can seize and not seize and if you have any questions after that let me know.
The credit card is in her name , does that tie me in as well since she is my wife?
Response 2: Yes, if she opened the account during your marriage because Texas is a community property state. Otherwise, no.
Is my name cleared of that lawsuit?
Response 3: Yes, if she is the only one being sued.
Will my credit in my name be affected?
Response 4: No, if she is the only one being sued.