Legal Question in Bankruptcy in Texas

7 or 13 if own property abroad?

We would like to pay off our debts although find it hard. We live abroad, our debts are in the US. My husband used to work for--name removed--American company that closed operations here after Sept/11/2001. We had a 75% decrease in our income and the money we now make is in the local currency. The exchange rate (1 dollar = 3 of the local money) makes it very hard to keep credit card monthly pmts. We own property here:--name removed--apartment, a beach house, a car, and 2 computers, basically. Should we file for chapter 7 or 13?? Thanks for your help.


Asked on 7/13/03, 6:41 pm

1 Answer from Attorneys
Andrew Nichols Law Office of Andrew B. Nichols

Re: 7 or 13 if own property abroad?

I'm not exactly sure if you own property in Texas or not. If so, you can contemplate filing bankruptcy in Texas. I usually recommend most clients attempt to file for complete relief under chapter 7. PLEASE READ MY FIRM PHILOSOPHY! Everyone deserves a chance to start over fresh. The problem in your case is that both of you would need to attend a hearing in Texas if you filed. Again, I'm not clear if you are still living abroad or if this is feasible. Please feel free to give me a call to discuss your situation in more detail. ph. (214) 979-7330

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Answered on 7/14/03, 10:12 am


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