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nip9 t1_je41est wrote

This is all dependent on your state whether or not you can file alone or must file jointly(community property states normally force joint filing). Your state laws would also dictate how much home equity is exempt; some states have unlimited homestead protections while in others creditors can go after all but 15-25k of your homes value.

With 80k of debt you should get a consultation with a local lawyer who can tell you the specifics for your state.

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Reddituser4866 t1_je42sya wrote

Yep, this is local lawyer not Reddit territory.

One little difference or minor law change in your local Jurisdiction can be the difference between say you just wrecking your credit or you losing your house. Best to talk to a professional.

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Obv_thrownaway111 OP t1_je41mmt wrote

Texas.

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nip9 t1_je4pgzo wrote

Texas is a community property state. So all debts incurred during the marriage belong to both spouses. You both would have to file together.

Upside is Texas has some of the best protections from creditors. As you noted your homestead exemption is unlimited. You can each exempt your vehicles and combined can protect up to 100k in crs and other assets. Your income cannot be garnished for consumer/medical debts.

So even absent filing for bankruptcy the only thing at risk would be large amounts of money sitting in a bank account that could be levied after a creditor would sue you and win a judgement against you.

You do need to really prioritize your budget. You should never be paying a cent toward credit cards or unsecured loans before ensuring your mortgage is fully paid.

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