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Texas Bankruptcy Exemptions

 

Texas has both a state and federal exemption system. You must choose one system of exemptions (assets you keep) to follow through your bankruptcy.

 

Texas State Exemptions System

Homestead

No limit

Personal property of a debtor which may be exempt from garnishment, attachment, execution or other seizure exclusive of liens, security interests, or other encumbrances. If it is provided for a family the limit is $60,000

 

Federal Exemptions System

Homestead
$20,200*
Life insurance policy with loan value, in accrued dividends or interest
$9,850

$475 per item in any household goods up to a total of $9,850;

$9,850
Jewelry $1,225
Motor vehicle $3,225
Personal injury compensation payments $18,450
Tools necessary for employment $1,850
$925 of any property $925