Legal Question in Bankruptcy in Texas

Divorce with a Bankrupcy

I kicked my husband out of the house, he moved into our rent house, he went crazy over the separation and did not go to work for 2 days and got fired (after working there 10 years). We owe alot of bills so i need to file bankrupcy. Will we lose one of our houses because of the bankrupcy? I do not want him to have to move back in with me. Or do we have to file separate bankrupcy's allowing us to keep one house each?

We have no other assets and limited cash about 15,000.00, but we owe alot on credit cards. How long does it take for a judgement to be put against us on our credit cards and should we file bankrupcy before or after the judgement? Most important can they seize our assets (Cars, and houses) when we go to court (judgement against us) for owing money on the credit cards ?

Asked on 10/16/03, 10:21 pm

1 Answer from Attorneys

Lawrence Maun Lawrence J. Maun, P.C.

Re: Divorce with a Bankrupcy

You have raised many issues. As a married couple you may claim only one homestead, which is exempt from claims of creditors. If you file bankruptcy you may keep your homestead as long as you make the payments due on your mortgage. It may be possible to also keep the second house if there is no equity in it. If you are recently delinquent on credit card bills, it should take several months for any judgments to be obtained against you. However, you should seek legal advice to preserve what assets you do have. It is a bad idea to pay creditors until you run out of money and then seek advice. With your situation, and admittedly I don't know all the facts, it appears you should be very selective on which creditors you pay. If you wish call to discuss. Larry Maun 713.266.2560

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Answered on 10/17/03, 10:31 am

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