Texas Laws and Legal Materials

Welcome to OVLG’s Texas laws and legal information center. Know state laws, legal information, court information, links to state government websites, and much more.

Overview of debt consolidation & settlement

Debt consolidation is a consumer debt relief plan where many delinquent accounts are merged together so that the debtor can take the advantage of a single and lowered monthly payment. However, in brief, debt settlement program helps you settle your debt by paying much less than the original outstanding balance.

Additional legal resources for consumers

  1. Texas state debt collection laws
  2. Payday loan laws in Texas
  3. Statute of limitations (SOL) on debt

Texas bankruptcy laws

If you file bankruptcy to get rid of your debt obligations, you should take a look into the Texas bankruptcy laws for the smooth progress of your case. However, it is ‘property exemption’ that most of the petitioners think of at the very beginning.

Few key points to consider:

  • Jewelry worth $15,000 is exempted for debtor who is a family member and $7,500 for individual debtor.
  • Unpaid commissions for personal services are exempted up to $ 7,500 for unmarried person or $ 15,000 for debtors with family.

» Know more about Texas bankruptcy laws

Company formation in Texas

In Texas, incorporating a corporation is made by filing the required documents and fees with the Secretary of State. However, apart from this, there are some additional filing provisions that you need to know.

Steps that involve an LLC formation

  • Choosing a business name for the LLC
  • Filing certificate of formation with the Secretary of the State
  • Execution an operating agreement
  • Determining tax and other regulatory obligations
  • Creating a bank account

» Details of LLC formation in Texas

Steps that involve formation of Non-profit Corporation

  • Choosing a business name
  • Recruiting and/or appointing directors
  • Incorporation of the non-profit corporation
  • Acquiring Employer Identification Number (EIN)
  • Registration with the Department of revenue
  • Application of tax exemption

» Details of Non-profit Corporation formation

Texas wills and living trusts

Preparation of a will is a significant step in planning the allocation of your estate after your death. But did you know:

  • What is the need of a Texas will?
  • What if someone dies without a will?
  • Does one require a lawyer to draft a will in Texas?
  • What are the requirements to sign a will in Texas?
  • Does the will need to be notarized?
  • Can a Texas will be used to name an executor?

» Read more to know the answers

Probate can be avoided through living trusts and you can even reduce or completely eliminate federal estate taxes for your estate. But:

  • What living trust is all about?
  • Do you need a living trust in Texas?
  • Do you still need a will if you make a living trust in Texas?
  • Do living trusts reduce estate tax in Texas?
  • What is the procedure of creating a living trust in Texas?

» Read more to know the answers

Additional State Legal Resources

Disclaimer: The aforesaid attorney is licensed to practice law within the state of Texas only.

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Disclaimer: The contents of this web site are not intended to establish an attorney-client relationship, provide the reader with legal advice, or substitute for legal advice from an attorney.
  • The debt settlement program typically lasts between 6 months to 4 years time.
  • At least 30% of the debt amount per creditor needs to be accumulated in the trust account for OVLG to give the creditor any settlement offer.
  • Not all creditors or debt collectors will accept a reduction in the balance, interest rate, or fees a customer owes such creditor or debt collector.
  • Pending completion of the represented debt-relief services, the customer's creditors or debt collectors may pursue collection efforts, including initiation of lawsuits.
  • That the use of the debt-relief service will likely adversely affect the consumer's creditworthiness, may result in consumers being sued by their creditors, and may increase the amount owed to creditors as a result of the accrual of additional fees and interest.
  • Savings a customer realizes from use of a debt-relief service may be taxable income.
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