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Ellen
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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My stepmother passed away last Dec. and my father found out

Resolved Question:

My stepmother passed away last Dec. and my father found out later that she had run up a lot of debt on his credit cards. He has been trying to pay them off but it takes almost all the money he has with little keft to live on. What happens if he just stops making the payments? He has property that is paid for and is afraid it could be attached. Please help him.
Submitted: 8 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 8 years ago.

Hello,

 

So sorry to hear of your father's situation.

 

A Chapter 7 bankruptcy may help him with his financial problems.

 

A Chapter 7 bankruptcy could discharge (erase) all of the credit card and any other unsecured debt.

 

In Texas, wages and homestead protected property are exempt from creditor claims under Texas Property Code Section 42.001. (The exception is attachment for child support, IRS taxes and student loans.) Therefore your father's wages and current homestead cannot be legally attached or lost in a bankruptcy.

 

I hope that the information which I provided was helpful to you.

 

 

Best wishes for a successful outcome. If you have additional questions, please do not hesitate to submit them to me directly.

 

 

Thank you,
FLAandNYLAWYER

 

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THIS IS FOR INFORMATION ONLY. NO ATTORNEY-CLIENT RELATIONSHIP EXISTS. PLEASE CONSULT A LAWYER IN YOUR STATE FOR LEGAL ADVICE

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