File Form 1099-A, Acquisition or Abandonment of. Secured Property, for each borrower if you lend money in connection with your trade or business and, in full or.You may owe a debt, but you still have rights. And debt collectors have to obey the law. Sec. 1702.001. SHORT TITLE. This chapter may be cited as the Private Security Act. Depending on the type of bankruptcy you file in Texas, your debt may be forgiven, and you might even be able to keep some of your assets. Qualified principal residence indebtedness can be excluded from income for discharges before January 1, 2026. Reminders. Discharge of student loan debt. InCharge assists Texans experiencing problems paying their bills or struggling financially with free, nonprofit debt management programs and credit counseling.