{"id":286825,"date":"2021-04-22T07:05:18","date_gmt":"2021-04-22T12:05:18","guid":{"rendered":"https:\/\/ability-fl-prod.internetbrands.com\/ability-law\/bankruptcy\/bankruptcy-laws-by-state\/arkansas-bankruptcy-exemptions-and-law.html"},"modified":"2026-09-10T10:08:50","modified_gmt":"2026-09-10T15:08:50","slug":"arkansas-bankruptcy-exemptions-and-law","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/state\/arkansas-law\/arkansas-bankruptcy-exemptions-and-law.html","title":{"rendered":"Arkansas Bankruptcy Exemptions and Law"},"content":{"rendered":"\n
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Arkansas Bankruptcy Exemptions and Law<\/h1>\n\n
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\n By Lyle Therese A. Hilotin-Lee, J.D.<\/a> | Legally reviewed by Catherine Hodder, Esq.<\/a>\n | Last updated\n
\n \n <\/i>\n Legally Reviewed\n <\/summary>\n\n
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This article has been written and reviewed for legal accuracy, clarity, and style by FindLaw\u2019s team of legal writers and attorneys<\/a> and in accordance with our editorial standards<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n\n

\n \n <\/i>\n Fact-Checked\n <\/summary>\n\n
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The last updated date refers to the last time this article was reviewed by FindLaw or one of our contributing authors<\/a>. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please contact an attorney in your area<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n<\/section>\n\n\n

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Key Takeaways<\/h2>\n

Bankruptcy exemptions protect specific property from creditors when you file for bankruptcy in\u00a0Arkansas<\/span>. You can choose between\u00a0Arkansas<\/span>\u00a0state exemptions or federal bankruptcy exemptions, and each set protects different amounts for your home, vehicle, retirement accounts, and other belongings.<\/p>\n\n <\/div>\n <\/div>\n<\/div>\n\n

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Understanding which exemptions apply to your situation can be confusing, especially since\u00a0Arkansas<\/span>\u00a0lets you choose between two exemption systems. If you are considering bankruptcy and want to know what you can keep,\u00a0contact an\u00a0Arkansas<\/span> bankruptcy attorney<\/a>. They can review your assets and help you choose the exemption system that best protects your property in your circumstances.<\/p>\n

Arkansas<\/span>\u00a0Bankruptcy Law<\/span><\/strong><\/h2>\n

Bankruptcy law<\/span> comes from both federal and state sources. The federal Bankruptcy Code<\/span> sets the main rules, and federal courts handle bankruptcy cases<\/span>. States like Arkansas<\/span> add their own laws, mostly about which property you can keep through exemptions.<\/p>\n

Bankruptcy Basics<\/strong><\/h3>\n

Most people have heard of the\u00a0automatic stay<\/span> in bankruptcy<\/a>, even if they don\u2019t know the term. Section 362 of the\u00a0Bankruptcy Code<\/span>\u00a0stops most creditor actions right away, including:<\/p>\n