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Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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I feel that I need to file Bankruptcy. I lost my home due to

Customer Question

I feel that I need to file Bankruptcy. I lost my home due to foreclosure in Georgia, which also had a second mortgage on it. I have very small credit card debt. My husband has a judgement for a persona loan thru a loan shark company in Georgia. We have an older car that is paid for, some furniture-nothing to speak of really. We have a car that I continue to make payments on each month. We moved from Georgia To Texas to start over- I have a good job, making only about 35,000; my husband works in the car business and sometimes makes decent money, but when the car business and economy went bust in Georgia, we pretty much lost everything we had. Now, Iam afraid that if Wells Fargo sells my home, that I will still be left owing money that they didn't collect from the forced-sell and I cannot pay the second mortgage, etc. and the credit card debt. After I pay my current rent, pay the car payment, and utilities- I have almost no disposable cash left over.
Submitted: 8 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 8 years ago.


You may want to consider a Chapter 7 bankruptcy. It will discharge the debts you mentioned regardless of where they were incurred. I will explain.


As an individual, there are two types of bankruptcy available. A Chapter 7 and a Chapter 13. There are distinct differences in between a Chapter 7 and a Chapter 13 bankruptcy.


A Chapter 7 bankruptcy could discharge (erase) all of your unsecured debt such as credit cards, judgments and personal loans. It would be an opportunity for a fresh financial start. However, you may have to surrender assets, if any, that exceed your exemption.


A Chapter 13 bankruptcy is a repayment plan for an individual. It may require that you repay some of your unsecured credit card debt over a 3 -5 year period. However, you may retain assets that exceed your exemption.

Here are the exemptions for Texas:


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

Thank you,


Ellen and other Bankruptcy Law Specialists are ready to help you
Customer: replied 8 years ago.

What do you do if you cannot afford a bankruptcy lawyer? Also, can wages be garnished in the state of Texas?

Expert:  Ellen replied 8 years ago.

Wages cannot be garnished in TX for most types of debt. Taxes and child support are the exceptions.

If you cannot afford a lawyer, you can try Legal Aid or purchase and complete the paperwork yourself.