Legal Question in Bankruptcy in Texas

This won't be comprehensive enough to address all of your questions, but I do want to try to help with two issues I see in your question.

First, do not assume you can't qualify for Chapter 7. Those "online means test calculators" that you see are notoriously inaccurate. The means test itself allows for pages and pages of deductions that are not included in the online calculators. Just because your income is above the median does NOT mean you can't get a Chapter 7. It will depend on how much over the median you are compared to all of the deductions available to you. I don't know that you CAN get a Chapter 7, but I don't want you to assume it's not available to you if you really need it.

Second, the bank won't garnish your wages in Texas. There are some instances where wages can be garnished, but they are very narrow and a business loan generally won't qualify. The bank could garnishment your bank account-- seize all the money you have in it-- or attempt some other ways of collecting their debt, but taking money out of your paycheck is not one of them.

I hope these general guidelines help put your mind at ease, at least a little bit.

Rustin Polk

Dallas Bankruptcy Lawyer

More free bankruptcy information at http://www.214bankruptcy.com

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You need to consult with a bankruptcy attorney to discuss the details of your situation. There may be other options to discharge the debt.

While a chapter 13 may cause a portion of your money to be taken from your wages,

it may not be as much as you fear.

You may be able to file a 7 using a legal theory that has worked in many cases. If the "partnership" was set up correctly then I would attempt to make the argument that the real estate "scam" constituted a business debt in which case you could very likely file a chapter 7 case and avoid the entire process of the "income limit" you are referring to. Please visit www.northtexasdebtfreedom.com