Note: The following is a fictional scenario created for illustrative purposes to help our readers in Oklahoma and Arkansas understand the types of bankruptcies and how to take advantage. Introduction In the realm of financial distress, bankruptcy offers a hopeful path to relief for individuals and businesses overwhelmed by debt. Despite the stigma it may … Read more
Scot Allison is a graduate of the University of Arkansas School of Law. In 2013, he began his legal career working as a Deputy Public Defender for Washington County, where he represented clients who were accused of felony and misdemeanor criminal charges. In 2018, he took an attorney position at Legal Aid of Arkansas, where … Read more
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. … Read more
The news is always full of celebrity bankruptcy stories. Whether it’s from a bitter divorce, a business deal gone wrong, or simply financial irresponsibility, even the rich and famous aren’t immune to bankruptcy. In fact, some of the entertainment industry’s most notable — and wealthy — figures have filed for bankruptcy multiple times. Recent studies … Read more
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 … Read more
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 Law Offices … Read more
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 … Read more
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 … Read more
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, buy a … Read more
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 … Read more
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