If you’re drowning under the weight of debt in Arkansas, filing for bankruptcy might provide you with much-needed relief. While you might worry that you will lose everything by filing for bankruptcy, most people get to keep everything by claiming the proper exemptions. Scroll down to learn what assets are exempt from bankruptcy in Arkansas.
What Are the Advantages of Filing for Bankruptcy in Arkansas and Oklahoma?
Many people worry about filing for bankruptcy because of the social stigma it carries. It’s important to remember that bankruptcy gives people who are unable to repay their debts a way to resolve their financial problems. If you can’t pay all of your bills, filing for protection under the U.S. Bankruptcy Code might allow you …
What Happens When You Go Bankrupt?
Are you undergoing financial hardship? You might consider bankruptcy to be a last resort. However, if you file for bankruptcy, you may have the chance to secure a clean financial slate or pay down a portion of your debts at a lower interest rate, depending on the type of bankruptcy that you choose. The attorneys at the …
When to Declare Bankruptcy
Are you behind on your mortgage payments and facing foreclosure? Have you been avoiding calls from bill collectors? Are you facing a creditor lawsuit? If you’re confronting large debts that you’re unable to pay, you may feel overwhelmed, anxious, and unsure of how to handle the situation. This may lead you to consider filing for …
How to File Chapter 13 Bankruptcy
If you’re struggling under the weight of unmanageable debt, bankruptcy might be a good choice for you. The two most popular types of consumer bankruptcy are Chapter 7 and Chapter 13. If your income is too high for Chapter 7 bankruptcy, or you want to be able to keep your non-exempt property, Chapter 13 might …
Life After Chapter 7 Bankruptcy
If you are thinking about filing for protection under Chapter 7 of the Bankruptcy Code (or have already filed), you might wonder what life after Chapter 7 bankruptcy will be like for you. Many people worry that after bankruptcy, they will never again have good credit and they won’t be able to secure new credit, …
Can I File Bankruptcy and Keep My House? What About My Car?
Some people who are overwhelmed by debts worry that they might lose all of their property if they file for bankruptcy protection. The fact is that you are able to keep a significant portion of your property when you file for bankruptcy because of the state and federal exemptions. Both Arkansas and Oklahoma have a …
Can You Make Too Much Money to File for Bankruptcy?
If you earn a high amount of income but are struggling to repay a substantial amount of unsecured debt, you might believe that your income disqualifies you from being able to file for bankruptcy. Can you make too much money to file for bankruptcy? The answer to this question is generally no. However, the bankruptcy …
What Are the Steps to File for Bankruptcy?
If you are having trouble paying your debts, bankruptcy might be a good option for you to consider. Filing for bankruptcy can put an immediate end to the collection actions of creditors, including wage garnishments, creditor lawsuits, annoying phone calls, and others. Depending on the type of bankruptcy that you file, it is possible to …
Am I Eligible for Bankruptcy?
If you’re struggling under the weight of unmanageable debt, you might wonder, “Am I eligible for bankruptcy?” Most individuals are eligible to file for consumer bankruptcy under either Chapter 7 or Chapter 13 of the Bankruptcy Code. To learn which chapter might be a better choice for you, schedule a consultation with the Law Offices …
