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Copyright 1999 The Houston Chronicle Publishing Company
The Houston Chronicle
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May 10, 1999, Monday
3 STAR EDITION
SECTION: A;
Pg. 22
LENGTH: 127 words
HEADLINE: CREDIT DUE;
Bentsen preserves homestead protection against creditors
SOURCE: Staff
BODY:
The U.S. House of Representatives last week passed a bill to make it harder for
Americans to escape credit card debts through the bankruptcy courts. Thanks to
Rep. Ken Bentsen, D-Houston, the bill allows states such as Texas to reject the
bill's $ 250,000 ceiling on homesteads that can be shielded from creditors.
Without Bentsen's amendments, Texans would have lost the generous homestead
protection the state constitution provides. Rising real estate values would
place even relatively modest houses and farms at the disposal of creditors.
The
bankruptcy reform bill now goes to the Senate, where it will be up to U.S. Sens. Phil Gramm and
Kay Bailey Hutchison to make sure that the legislation retains the homestead
protection option for Texas.
TYPE: Editorial Opinion
LOAD-DATE: May 11, 1999