Sunset Valley, TX Bankruptcy Law Firms & Lawyers

Generally if the retirement fund is an ERISA qualified tax exempt account it will be considered exempt property. However, depending on the exemption whether you use Texas or Federal there may be a limit on the amount that is considered exempt. You would need to discuss the matter with your bankruptcy attorney to determine exactly what is exempt prior to filing.

Someone who hasn't filed bankruptcy is unaffected by a new spouse's filing. There is one distinction. If the couple is applying for a joint debt the credit reports are, in effect, "married." If the non-filer applies in their name only the credit reports remain separate.

You can file bankruptcy any time you want (assuming you are eligible to file under a given chapter). Whether it is "too late" or not depends on what it is you're trying to accomplish, and you don't provide enough information to even begin answering that question. For example, if your goal is to stop the foreclosure sale and use bankruptcy to catch up on the payments, then it is too late to file after the foreclosure sale has taken place. If your goal is to discharge any deficiency you owe under applicable state law after the foreclosure sale, then it's never too late to file, although there can be significant tax consequences depending on when you file your case.  You would need to discuss that with a tax attorney who has bankruptcy experience. Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.