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> I'm seriously considering moving to Texas because of debtor laws - any health incident can cause one to accumulate a large amount of "debt" in a hurry, and be
by arbuge 7y ago
> I'm seriously considering moving to Texas because of debtor laws - any health incident can cause one to accumulate a large amount of "debt" in a hurry, and being able to tell creditors to pound sand gives a hell of a lot of peace of mind.
Can you elaborate on this? What is so favorable about Texas law specifically as far as debtors are concerned?
- ThrustVectoring 7y agoWage garnishment isn't a thing for creditors like hospitals, unlimited IRA protection, homestead exemption in bankruptcy up to at least 10 acres (and case law includes the rented-out portion of duplexes through quadplexes), and annuities get exempted out too. Basically creditors can seize accounts and trash your credit rating, and that's about it in Texas.