Legal Question in Bankruptcy in Texas

Re: Will I lose my home?

Under the Texas Property Code your homestead is exempt property as is at least one car. However, if either asset is subject to a valid security interest, ie. you financed the car or the house has a mortgage on it, the lender must be paid if you want to keep the asset. The house to be exempt must be your homestead. Good credit may take a long time, but there are car dealers who will finance cars for people with poor credit records. Generally a large down payment and high interest rates are associated with such loans.