Pelley Law Office LLP
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Exemptions

As a debtor filing for bankruptcy in Texas, you have an advantage.  The advantage is that you have an election to make as to whether you want to take the Texas list of exemptions or the list of exempt property under the Federal Bankruptcy Code.

Exempt property is property you get to keep if you file a bankruptcy.

Under the Texas property code, no cash or stocks (that are not under a retirement umbrella) are exempt.  However, if you have less than $20,000 per spouse of equity in your homestead then you will have a wildcard exemption under the federal list to claim otherwise non-exempt property as exempt.

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Office Locations

Plano office
Sherman office
Dallas office

Plano Office
1312 14th Street, Suite 100
Plano, Texas 75074

Phone: 972-608-0335
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Sherman Office
905 North Travis Street
Sherman, Texas 75090

Phone: 903-813-4778
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Dallas Office
6060 North Central Expressway, Suite 602
Dallas, Texas 75206

Phone: 214-733-1775
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