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Texas debt scam
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Ok, so I live in Texas. From what I read, you cannot have you wages garnished for debts(other than child support alimony, taxes or student loans). 401ks are impenetrable from what I read. I make $100k per year. I am being sued by my exwife over custody. Since I basically can't lose my aoftware engineering job, I am thinking about loading up about $50-80k in credit card and personal loan debt to fight her and stop paying. I want to pay on my car and house, but not on any unsecured debt. I also intend to to owe several companies a little money instead of few companies a lot. Texas has a statute of limitations of 4 years of last payment activity on debt. I know this isn't moral, but I have my reasons for working the system like this. Can anyone think of something I've missed?
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Gee.

That sounds like a legal question.

There are these guys you can find in the phonebook or online that answer legal questions and give advice.

They call them... law doctors. Something like that.
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>>1027369
I'm more thinking along strategic lines than legal lines. I'm pretty confident that they can only sue me for known assets(like bank account balances, land, vehicles, etc)
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>>1027375

Texas is a homestead state. Texas and Florida are the only ones. You can put your money into a house and it's untouchable. This is the reason lots of criminals from all over will move to Florida. Pretty sure OJ Simpson did this during his trial too.
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>>1027390
http://www.dallasnews.com/business/personal-finance/headlines/20120817-texas-law-puts-protective-umbrella-over-debtors.ece

Not just your house, though.
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>>1027365
okay
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>>1027365
After the 4 years Junk Debt Buyers cannot buy the debt from credit card companies and then sue you in court and win a judgement? Thats sweet.
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>>1028051
In Texas they can't take you house or car unless they have a Leon against them. IOW, credit lenders get BTFO unless you have some asset they can point to in order to get a judgement. If your money is all in Ira,401k, car, house, and you make payments on car and house, they can't touch you.
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>>1028155
Nice very nice indeed
Thread replies: 9
Thread images: 1
Thread DB ID: 394788



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