Legal Question in Credit and Debt Law in Texas
Summary Judgement
My wife just received a summary judgement notice for a credit card debt. How will this affect me, her spouse? Our home loan is in my name, however, I notice that when I pay taxes it's listed on both of our names. What happens when we sell home, will our profit be garnished? If she files bankruptcy can they delete the judgment?
Asked on 2/11/07, 8:38 pm
1 Answer from Attorneys
Peter Bradie
Bradie, Bradie & Bradie
Re: Summary Judgement
The debt is probably a community debt. If you sell your homestead, you have six months within which to roll the proceeds of that sale into a new homestead, before it may be reachable.
Bankruptcy is a very extreme solution and not to be undertaken unless the debt is so large that it can never be repaid.
Answered on 2/12/07, 12:17 pm
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