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-   -   Does a chapter 13 look better on credit reports ? (https://www.askmehelpdesk.com/showthread.php?t=190746)

  • Mar 3, 2008, 06:48 PM
    toostressed
    Does a chapter 13 look better on credit reports ?
    I qualify for a chapter 7; however, my property that isn't a homestead may be seized. It's my understanding that filing a chapter 13 will enable me to keep my land. Can someone please advise me on what I can do to exempt my other property (it's right beside my house, sharing the same fence line). I'm in Texas.
  • Mar 3, 2008, 07:02 PM
    Fr_Chuck
    Each state has their own laws as to what is exempt. Normally it is a money value of property. So it may depend on what equity you have in those properties.

    Now under a chapter 13, you work out a payment plan to keep property where you re-affirm certain debts and also pay unsecured according to a budget.

    There is nothing you can do to exempt it, it is either exempt or it will not be under Texas bankrutpcy rules.

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