Call for a free bankruptcy consultation

Louisville |

502-485-9200

New Albany |

812-945-9200
Schwartz Bankruptcy Law Center

What is the Texas Motor Vehicle Exemption?

Everyone knows that there are rules that have to be followed when it comes to bankruptcy. Some people know a little more than others, and realized that there are some exemptions regarding what they will have to forfeit in their bankruptcy actions. What many don't realize that when it comes to exemptions there are Federal 

Everyone knows that there are rules that have to be followed when it comes to bankruptcy. Some people know a little more than others, and realized that there are some exemptions regarding what they will have to forfeit in their bankruptcy actions. What many don't realize that when it comes to exemptions there are Federal exemptions and there are also State exemptions.

Right To Ride

Texas has its own rules when it comes to the various types of exemptions, and this includes exemptions for motor vehicles. Usually the vehicles are one of the types of properties that many people worry about losing. More often than not this is secured property. This means that the creditor can hold the property as security and if the payments are not made then the creditor can seize the vehicle.

Each state is different when it comes to what value they will place on a vehicle for exemption purposes. In Texas the State laws pertaining this are quite liberal. In most cases it will allow the entire value of one of the household vehicles to be total exempt for each licensed household member. In some cases an unlicensed household member has to rely on someone else to operate the vehicle for them. In this case that vehicle will fall into the Texas motor vehicle exemption rules.

It should never be assumed what will and will not be exempted in any form of bankruptcy or in any State. It is most important to use the services of an experienced bankruptcy attorney in Kentucky to handle this matter for you.

No Comments

Leave a comment
Comment Information
Make A Payment Email Us For a Response

Need A Solution To Your Debt Problems?

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Make A Payment
Schwartz Bankruptcy Law Center

Office Locations:

Louisville Office
3339 Taylorsville Road
Louisville, KY 40205

Phone: 502-485-9200
Fax: 502-485-9220
Louisville Law Office Map

New Albany Office
501 State Street
New Albany, Indiana 47150

Phone: 812-945-9200
Fax: 502-485-9220
Map & Directions

Phone:

LOUISVILLE |

NEW ALBANY |

Fax: