Phoenix
Veteran
- Apr 16, 2003
- 8,584
- 7,430
This is not a joke. It is serious and may be helpful to you if USAIR does bite the dust. If USAIR goes under then many of you may be forced into bankruptcy. You should look into the bankruptcy laws in Florida and Texas.
If your primary residence (ie. house) is in Texas or Florida when you declare bankruptcy then your house will not be taken from you. It will not be liquidated to cover your debts. You get to keep it. Even if it is a million dollar house.
Enron Execs purchased huge mansions in Florida for this reason.
If your primary residence (ie. house) is in Texas or Florida when you declare bankruptcy then your house will not be taken from you. It will not be liquidated to cover your debts. You get to keep it. Even if it is a million dollar house.
Enron Execs purchased huge mansions in Florida for this reason.
