{"id":286825,"date":"2021-04-22T07:05:18","date_gmt":"2021-04-22T12:05:18","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/bankruptcy\/bankruptcy-laws-by-state\/arkansas-bankruptcy-exemptions-and-law.html"},"modified":"2021-04-22T07:14:14","modified_gmt":"2021-04-22T12:14:14","slug":"arkansas-bankruptcy-exemptions-and-law","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/bankruptcy\/bankruptcy-laws-by-state\/arkansas-bankruptcy-exemptions-and-law.html","title":{"rendered":"Arkansas Bankruptcy Exemptions and Law"},"content":{"rendered":"\n<div class=\"wp-container-core-columns-is-layout-9d6595d7 fl-sectionWithSidebar fl-container fl-flex fl-flex-wrap fl-gap30\">\n    \n    <div class=\"fl-page-articles fl-section-main fl-section-main-full-width\">\n        <h1 class=\"fl-no-margin-top\">Arkansas Bankruptcy Exemptions and Law<\/h1>\n<section class=\"fl-gutenberg-byline\">\n    <div class=\"fl-gutenberg-byline-content\">\n                    By <a href=\"https:\/\/www.findlaw.com\/company\/our-team.html\">Bret Thurman, J.D.<\/a> | Legally reviewed by <a\n                href=\"https:\/\/www.findlaw.com\/company\/our-team\/joseph-fawbush-esq\/\">Joseph Fawbush, Esq.<\/a>\n                | Last updated\n        <time>\n                            April 22, 2021\n                    <\/time>\n    <\/div>\n\n    \n    <details class=\"fl-gutenberg-byline-toggle fl-gutenberg-byline-legally-reviewed\">\n        <summary>\n            <i class=\"fl-gutenberg-byline-icon\" aria-hidden=\"true\"><\/i>\n            Legally Reviewed\n        <\/summary>\n\n        <div class=\"fl-gutenberg-byline-toggle-content\">\n            <p><em>This article has been written and reviewed for legal accuracy, clarity, and style by <a href=\"https:\/\/www.findlaw.com\/company\/our-team.html\">FindLaw\u2019s team of legal writers and attorneys<\/a> and in accordance with <a href=\"https:\/\/www.findlaw.com\/company\/company-history\/editorial-policy.html\">our editorial standards<\/a>.<\/em><\/p>\n\n        <\/div>\n    <\/details>\n\n    <details class=\"fl-gutenberg-byline-toggle fl-gutenberg-byline-fast-checked\">\n        <summary>\n            <i class=\"fl-gutenberg-byline-icon\" aria-hidden=\"true\"><\/i>\n            Fact-Checked\n        <\/summary>\n\n        <div class=\"fl-gutenberg-byline-toggle-content\">\n            <p><em>The last updated date refers to the last time this article was reviewed by FindLaw or one of our <a href=\"https:\/\/www.findlaw.com\/company\/our-team\/contributing-authors.html\">contributing authors<\/a>. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please <a href=\"https:\/\/lawyers.findlaw.com\/?fli=bylinelink\" target=\"_blank\" rel=\"noopener\">contact an attorney in your area<\/a>.<\/em><\/p>\n\n        <\/div>\n    <\/details>\n<\/section>\n<blockquote>Many Arkansas families are on the edge financially. These families should at least consider filing bankruptcy because in many cases, this federal debt relief program is the only way to ensure a better future. Yet mostly because of\u00a0<a href=\"https:\/\/scholarship.law.upenn.edu\/faculty_scholarship\/300\/\" target=\"_blank\" rel=\"noopener\">bankruptcy-phobia<\/a>, these families hesitate to file.<\/blockquote>\r\n<p>This fear is understandable but unnecessary. There are a lot of misconceptions about what happens in bankruptcy. Hopefully, this page will take away some of that fear by providing answers to some commonly asked questions about bankruptcy in Arkansas. Asset protection in bankruptcy is one of the biggest concerns that people have.<br>\r\n<\/p>\r\n<h2><a id=\"Basics\"><\/a>Arkansas Bankruptcy Law<\/h2>\r\n<p>The United States is a partnership between federal and state governments. Marriage and family laws are one example. The federal government makes some laws in this area, and so do states like Arkansas.<\/p>\r\n<p>Bankruptcy is an even better example of this partnership. The federal Bankruptcy Code establishes many laws in this area. Furthermore, federal courts, instead of state courts, control bankruptcy procedures. Individual states, like Arkansas, make other bankruptcy laws. Most state bankruptcy laws involve property exemptions.<\/p>\r\n<h3>Bankruptcy Basics<\/h3>\r\n<p>Even if they are not familiar with the label, most people are familiar with bankruptcy&#8217;s <a href=\"https:\/\/www.findlaw.com\/bankruptcy\/what-is-bankruptcy\/facing-foreclosure-how-bankruptcy-can-help.html\">automatic stay<\/a>. Section 362 of the Bankruptcy Code immediately stops most creditor adverse actions, such as:<\/p>\r\n<ul>\r\n<li>Foreclosure,<\/li>\r\n<li>Creditor harassment,<\/li>\r\n<li>Eviction,<\/li>\r\n<li>Wage garnishment, and<\/li>\r\n<li>Repossession.<\/li>\r\n<\/ul>\r\n<p>Additionally, bankruptcy discharges unsecured debts. Both these words have specific meanings in this context.<\/p>\r\n<p>\u201cDischarge&quot; means the judge <a href=\"https:\/\/www.findlaw.com\/bankruptcy\/chapter-7\/debt-discharge-and-property.html\">eliminates<\/a> the legal obligation to repay a debt. But the collateral consequences remain. Assume John owes tuition money to State U, which is holding his transcript. The financial obligation is dischargeable. But State U may continue withholding John&#8217;s transcript. A bankruptcy lawyer must deal with the transcript issue separately.<\/p>\r\n<p>\u201cUnsecured&quot; means the debtor simply promised to pay. Examples include school tuition, credit cards, payday loans, and medical bills. Some unsecured debts, mostly back taxes and student loans, are only dischargeable in certain situations. Other unsecured debts, mostly criminal court fines alimony, and child support, are not dischargeable at all.<\/p>\r\n<h3>Types of Bankruptcy<\/h3>\r\n<p>The general procedure is the same in all forms of consumer bankruptcy. The specific procedure varies in different chapters.<\/p>\r\n<ul>\r\n<li><a href=\"https:\/\/www.findlaw.com\/bankruptcy\/chapter-7.html\">Chapter 7<\/a> is designed for people with crippling unsecured debts. Medical bills are the leading cause of Chapter 7 filings in Arkansas. Usually, these judges discharge most unsecured debts after a few months.<\/li>\r\n<li><a href=\"https:\/\/www.findlaw.com\/bankruptcy\/chapter-13.html\">Chapter 13<\/a> is designed for people with delinquent secured debts. Past-due mortgage payments are a good example. Chapter 13 gives these debtors up to five years to erase this delinquency. The trustee essentially places your family on an allowance for this period of time. Most or all of your disposable monthly income goes to debt retirement.<\/li>\r\n<\/ul>\r\n<p>A \u201cChapter 20&quot; bankruptcy, which combines elements of Chapter 7 and Chapter 13, is available in some jurisdictions. A bankruptcy lawyer can let you know if a Chapter 20 is right for you.<\/p>\r\n<h2><a id=\"Eligibility\"><\/a>Am I Eligible for Bankruptcy in Arkansas?<\/h2>\r\n<p>Bankruptcy law provides a fresh start to debtors who are honest but unfortunate. Most people are eligible for this fresh start, through Chapter 7 and\/or Chapter 13.<\/p>\r\n<h3>Formal Requirements<\/h3>\r\n<p>The means test is the biggest qualification for Chapter 7 debtors. You are eligible to file if your household&#8217;s annual income is below average for that area. This amount fluctuates and it varies in specific areas. It&#8217;s usually more expensive to live in Little Rock than in other parts of the state. Typically, the amount is about $68,000 for a family of four.<\/p>\r\n<p>Chapter 13 debtors must meet debt ceiling qualifications. Their secured debts cannot exceed $1.3 million and their unsecured debts cannot exceed $400,000. These amounts vary slightly as well.<\/p>\r\n<p>Furthermore, all debtors must meet certain filing qualifications. You must have lived in Arkansas for at least six months. Additionally, you must take a pre-filing debt counseling course. Finally, you must take a post-filing debt management course. These brief and inexpensive classes are usually available online.<\/p>\r\n<h3>Informal Requirements<\/h3>\r\n<p>These unwritten rules vary in different jurisdictions. Only an experienced Arkansas bankruptcy lawyer knows about such informal requirements.<\/p>\r\n<p>These qualifications center on the monthly income and expense schedules that are part of a bankruptcy petition. Chapter 7 bankruptcy debtors normally must show a marginally positive cash flow. If not, the trustee might scrutinize the paperwork even more closely. Chapter 13 bankruptcy debtors, on the other hand, normally must show substantial disposable income. Otherwise, the trustee might question their ability to make a monthly debt consolidation payment.<\/p>\r\n<p>Furthermore, you have a duty to cooperate with the trustee. Some courts are very strict on this point. A judge could dismiss your case because you are late for a meeting. Other courts are more lenient. For example, they might overlook a few late payments, as long as you never go more than about fifteen days delinquent. Of course, it is never a good idea to go late on a payment if it can be avoided, as that could put your bankruptcy in serious jeopardy.<\/p>\r\n<h2><a id=\"Exemptions\"><\/a>What Are the Arkansas Bankruptcy Exemptions?<\/h2>\r\n<p>Most people work very hard to acquire things like homes, motor vehicles, and retirement accounts. If you have debt problems, creditors could seize these assets and sell them to pay off your debts. In some cases, creditors do not even need a court order to do these things.<\/p>\r\n<p>Bankruptcy exempts (protects) some of your property. The aforementioned automatic stay is part of this protection. Additionally, some assets are permanently exempt under state or federal law. Generally, only luxury items, like private planes and vacation homes, are nonexempt.<\/p>\r\n<p>Arkansas is one of the few states which allows you to choose between federal and state bankruptcy exemptions. You must pick one or the other. You cannot cherry-pick items from each list.<\/p>\r\n<h3>Federal Exemptions<\/h3>\r\n<p>These exemptions are found in the <a href=\"https:\/\/codes.findlaw.com\/us\/title-11-bankruptcy\/\" target=\"_blank\" rel=\"noopener\">Bankruptcy Code<\/a>, which is in Title 11 of the U.S. Code. The major exemptions are:<\/p>\r\n<ul>\r\n<li><b>Homestead exemption:<\/b> Up to $25,150 of home equity is exempt. So, if you have less equity than that, the bankruptcy trustee cannot seize your home. Most people who have lived in the same home for less than ten years have very little home equity. The bank applies most of the money they pay to amortized interest.<\/li>\r\n<li><b>Motor vehicle:<\/b> Federal law protects up to $4,000 in vehicle equity. Most people have almost no equity in new cars. And, most used cars have almost no value. You may use the entire exemption on one vehicle or spread it out over several vehicles.<\/li>\r\n<li><b>Personal property:<\/b> Items in this category include appliances, furniture, clothes, and other household goods ($13,400), jewelry ($1,700), tools of the trade ($2,525), medical devices (unlimited amount), and life insurance payments or dividends ($13,400). These values are subject to some special rules, which are outlined below.<\/li>\r\n<li><b>Public benefits:<\/b> Social Security, VA disability, unemployment, and other government benefits are fully exempt regardless of their amount. To preserve this exemption, it&#8217;s best to put this money into a separate account. Always speak to a lawyer before you move money.<\/li>\r\n<li><b>Retirement accounts:<\/b> IRAs, 401(k)s, 529 plans, and other tax-deferred accounts are exempt as well. The amount is a bit uncertain. The Bankruptcy Code contains some limits. But the Supreme Court <a href=\"https:\/\/www.supremecourt.gov\/opinions\/13pdf\/13-299_6k4c.pdf\" target=\"_blank\" rel=\"noopener\">recently implied<\/a> that these accounts are 100% exempt regardless of value.<\/li>\r\n<li><b>Wildcard:<\/b> You may protect up to $13,900 in otherwise nonexempt property. This property could be cahs in a bank account or any other tangible real or personal property.<\/li>\r\n<\/ul>\r\n<p>An item&#8217;s bankruptcy value is not the same as its fair market value. You must list the item&#8217;s as-is cash value on Schedule A or Schedule B.<\/p>\r\n<p>As one example, if Ramon&#8217;s house needs foundation work, a home investor would probably only pay pennies on the dollar for the property. That offer arguably establishes the home&#8217;s as-is cash value. Complex issues like this should be left to your Arkansas bankruptcy attorney.<\/p>\r\n<h3>State Exemptions<\/h3>\r\n<p>The Arkansas state exemptions are available as well. These exemptions protect:<\/p>\r\n<ul>\r\n<li>House (unlimited amount for single-family homes, $800 in equity for condominiums or trailers)<\/li>\r\n<li>75% of your current wages<\/li>\r\n<li>Car ($1,200 in equity)<\/li>\r\n<li>Personal property ($200)<\/li>\r\n<li>Tools of the trade ($750)<\/li>\r\n<li>Jewelry (one item)<\/li>\r\n<li>Life insurance ($20,000)<\/li>\r\n<li>Government benefits (unlimited)<\/li>\r\n<li>Retirement account (unlimited)<\/li>\r\n<li>Wildcard ($200)<\/li>\r\n<\/ul>\r\n<p>Some of these amounts increase if a married couple files jointly. An attorney can further maximize these exemptions, perhaps by placing items in a trust.<\/p>\r\n<h2>Connect With a Dedicated Attorney<br>\r\n<\/h2>\r\n<p>To get a fresh start and protect your property, reach out to an experienced <a href=\"https:\/\/lawyers.findlaw.com\/bankruptcy-law\/arkansas\/?fli=dcta\" target=\"_blank\" rel=\"noopener\">Arkansas bankruptcy lawyer<\/a> today. After-hours, virtual, and home visits are available.<\/p>\r\n<p><i><b>Note:<\/b> State laws are always subject to change through the passage of new legislation, rulings in the higher courts (including federal decisions), ballot initiatives, and other means. While we strive to provide the most current information available, please consult an attorney or conduct your own legal research to verify the state law(s) you are researching.<\/i><\/p>\r\n<p><a href=\"https:\/\/lawyers.findlaw.com\/bankruptcy-law\/minnesota\/?fli=dcta\" target=\"_blank\" rel=\"noopener\">&nbsp;<\/a><\/p>\r\n\n<section class=\"fl-faq\">\n    <div\n            class=\"fl-accordion fl-faq-container fl-container\"\n            id=\"faq\"\n            data-testid=\"fl-accordion\"\n    >\n        <div class=\"fl-faq-heading-row fl-flex\">\n            <ul\n                    class=\"fl-faq-buttons fl-flex fl-flex-row fl-items-center fl-no-spacing\"\n                    aria-label=\"View all Frequently Asked Questions\"\n            >\n                <li class=\"fl-faq-buttons-item\">\n                    <button\n                            id=\"button-show-faq\"\n                            data-testid=\"button-show-faq\"\n                            class=\"fl-accordion-filter-button fl-accordion-filter-button-show\"\n                            type=\"button\"\n                            data-focus-other-button=\"true\"\n                            aria-current=\"true\"\n                            aria-disabled=\"true\"\n                            disabled=\"\"\n                    >\n                        Show All\n                    <\/button>\n                <\/li>\n                <li><span aria-hidden=\"true\">|<\/span><\/li>\n                <li class=\"fl-faq-buttons-item\">\n                    <button\n                            id=\"button-hide-faq\"\n                            data-testid=\"button-hide-faq\"\n                            class=\"fl-accordion-filter-button fl-accordion-filter-button-hide\"\n                            type=\"button\"\n                            data-focus-other-button=\"true\"\n                            aria-current=\"true\"\n                            aria-disabled=\"true\"\n                            disabled=\"\"\n                    >\n                        Hide All\n                    <\/button>\n                <\/li>\n            <\/ul>\n        <\/div>\n        <div class=\"fl-faq-questions\">\n            <h3\n                    class=\"fl-faq-title fl-no-margin\"\n                    data-testid=\"fl-faq-title\"\n            >\n                Frequently Asked Questions About Arkansas Bankruptcy\n            <\/h3>\n                            <div\n                        class=\"fl-accordion-item\"\n                        id=\"section-1-faq\"\n                        aria-labelledby=\"button-1-faq\"\n                        data-testid=\"fl-accordion-item\"\n                >\n                    <h4\n                            class=\"fl-accordion-header fl-flex fl-items-center fl-justify-between fl-no-margin\"\n                            data-testid=\"fl-faq-question-header-1\"\n                    >\n                        <button\n                                id=\"button-1-faq\"\n                                aria-expanded=\"true\"\n                                aria-controls=\"content-1-faq\"\n                                class=\"fl-accordion-button fl-accordion-button-h4 fl-flex fl-flex-auto fl-justify-between is-opened fl-text-underline\"\n                                type=\"button\"\n                        >\n                            How much does bankruptcy cost in Arkansas?\n                            <span aria-hidden=\"true\">\n                                <i\n                                        class=\"fa fa-angle-down small\"\n                                        aria-hidden=\"true\"\n                                ><\/i>\n                            <\/span>\n                        <\/button>\n                    <\/h4>\n                    <div\n                            class=\"fl-accordion-content active\"\n                            data-testid=\"fl-faq-question-content-1\"\n                            id=\"content-1-faq\"\n                            role=\"region\"\n                            aria-labelledby=\"button-1-faq\"\n                    >\n                        <p>The bankruptcy filing fee, which is sometimes payable in installments (and can sometimes be waived), is usually about $350. As for professional fees, most Arkansas bankruptcy lawyers offer pre-petition or post-petition installment plans. Some people can file bankruptcy with nothing down.<\/p>\n\n                    <\/div>\n                <\/div>\n                            <div\n                        class=\"fl-accordion-item\"\n                        id=\"section-2-faq\"\n                        aria-labelledby=\"button-2-faq\"\n                        data-testid=\"fl-accordion-item\"\n                >\n                    <h4\n                            class=\"fl-accordion-header fl-flex fl-items-center fl-justify-between fl-no-margin\"\n                            data-testid=\"fl-faq-question-header-2\"\n                    >\n                        <button\n                                id=\"button-2-faq\"\n                                aria-expanded=\"true\"\n                                aria-controls=\"content-2-faq\"\n                                class=\"fl-accordion-button fl-accordion-button-h4 fl-flex fl-flex-auto fl-justify-between is-opened fl-text-underline\"\n                                type=\"button\"\n                        >\n                            How do I start bankruptcy in Arkansas?\n                            <span aria-hidden=\"true\">\n                                <i\n                                        class=\"fa fa-angle-down small\"\n                                        aria-hidden=\"true\"\n                                ><\/i>\n                            <\/span>\n                        <\/button>\n                    <\/h4>\n                    <div\n                            class=\"fl-accordion-content active\"\n                            data-testid=\"fl-faq-question-content-2\"\n                            id=\"content-2-faq\"\n                            role=\"region\"\n                            aria-labelledby=\"button-2-faq\"\n                    >\n                        <p>You do not need a lawyer to represent you in civil or criminal court, and you do not need a lawyer to file a voluntary petition. Many debtors are DIY (Do-It-Yourself) filers. Others work with bankruptcy petition preparers.<\/p>\n<p>These options might be a good idea if you are filing a no-asset Chapter 7. The&nbsp;<a href=\"https:\/\/www.uslegalforms.com\/search\/?state=ar&amp;query=bankruptcy&amp;field=anywhere\" title=\"Find Bankruptcy Forms\" target=\"_blank\" rel=\"noopener\">forms are available here<\/a>. Otherwise, the process is much too complicated to go through by yourself. And, a nonlawyer bankruptcy petition preparer cannot give you legal advice or represent you at a confirmation hearing.<\/p>\n<p>An Arkansas bankruptcy lawyer does more than give you legal advice, fill out the paperwork accurately, and represent you if things go sideways. An attorney can also unlock some&nbsp;<a href=\"https:\/\/www.findlaw.com\/bankruptcy\/chapter-13\/chapter-13-background-and-advantages.html\" title=\"Advanced Options\">advanced options<\/a>, such as a lien strip-off or cram-down, which could save your family thousands of dollars.<\/p>\n\n                    <\/div>\n                <\/div>\n                            <div\n                        class=\"fl-accordion-item\"\n                        id=\"section-3-faq\"\n                        aria-labelledby=\"button-3-faq\"\n                        data-testid=\"fl-accordion-item\"\n                >\n                    <h4\n                            class=\"fl-accordion-header fl-flex fl-items-center fl-justify-between fl-no-margin\"\n                            data-testid=\"fl-faq-question-header-3\"\n                    >\n                        <button\n                                id=\"button-3-faq\"\n                                aria-expanded=\"true\"\n                                aria-controls=\"content-3-faq\"\n                                class=\"fl-accordion-button fl-accordion-button-h4 fl-flex fl-flex-auto fl-justify-between is-opened fl-text-underline\"\n                                type=\"button\"\n                        >\n                            What happens when someone declares bankruptcy?\n                            <span aria-hidden=\"true\">\n                                <i\n                                        class=\"fa fa-angle-down small\"\n                                        aria-hidden=\"true\"\n                                ><\/i>\n                            <\/span>\n                        <\/button>\n                    <\/h4>\n                    <div\n                            class=\"fl-accordion-content active\"\n                            data-testid=\"fl-faq-question-content-3\"\n                            id=\"content-3-faq\"\n                            role=\"region\"\n                            aria-labelledby=\"button-3-faq\"\n                    >\n                        <p>In a nutshell, when you declare bankruptcy, you get a fresh start. The automatic stay halts wage garnishment and other adverse creditor actions. Property exemptions protect your real and personal property from creditor seizure. Finally, the judge either discharges (eliminates) your debts or gives you up to five years to repay them.<\/p>\n\n                    <\/div>\n                <\/div>\n                            <div\n                        class=\"fl-accordion-item\"\n                        id=\"section-4-faq\"\n                        aria-labelledby=\"button-4-faq\"\n                        data-testid=\"fl-accordion-item\"\n                >\n                    <h4\n                            class=\"fl-accordion-header fl-flex fl-items-center fl-justify-between fl-no-margin\"\n                            data-testid=\"fl-faq-question-header-4\"\n                    >\n                        <button\n                                id=\"button-4-faq\"\n                                aria-expanded=\"true\"\n                                aria-controls=\"content-4-faq\"\n                                class=\"fl-accordion-button fl-accordion-button-h4 fl-flex fl-flex-auto fl-justify-between is-opened fl-text-underline\"\n                                type=\"button\"\n                        >\n                            How much debt do you have to have to file Chapter 7?\n                            <span aria-hidden=\"true\">\n                                <i\n                                        class=\"fa fa-angle-down small\"\n                                        aria-hidden=\"true\"\n                                ><\/i>\n                            <\/span>\n                        <\/button>\n                    <\/h4>\n                    <div\n                            class=\"fl-accordion-content active\"\n                            data-testid=\"fl-faq-question-content-4\"\n                            id=\"content-4-faq\"\n                            role=\"region\"\n                            aria-labelledby=\"button-4-faq\"\n                    >\n                        <p>There is no Chapter 7 debt ceiling. People who file Chapter 13 cannot have more than $1.4 million in secured debt or $400,000 in unsecured debt. As a rule of thumb, if you currently pay more than 10% of your income on things like credit cards, there is no realistic way to pay off that debt.<\/p>\n\n                    <\/div>\n                <\/div>\n                            <div\n                        class=\"fl-accordion-item\"\n                        id=\"section-5-faq\"\n                        aria-labelledby=\"button-5-faq\"\n                        data-testid=\"fl-accordion-item\"\n                >\n                    <h4\n                            class=\"fl-accordion-header fl-flex fl-items-center fl-justify-between fl-no-margin\"\n                            data-testid=\"fl-faq-question-header-5\"\n                    >\n                        <button\n                                id=\"button-5-faq\"\n                                aria-expanded=\"true\"\n                                aria-controls=\"content-5-faq\"\n                                class=\"fl-accordion-button fl-accordion-button-h4 fl-flex fl-flex-auto fl-justify-between is-opened fl-text-underline\"\n                                type=\"button\"\n                        >\n                            How bad is filing for bankruptcy?\n                            <span aria-hidden=\"true\">\n                                <i\n                                        class=\"fa fa-angle-down small\"\n                                        aria-hidden=\"true\"\n                                ><\/i>\n                            <\/span>\n                        <\/button>\n                    <\/h4>\n                    <div\n                            class=\"fl-accordion-content active\"\n                            data-testid=\"fl-faq-question-content-5\"\n                            id=\"content-5-faq\"\n                            role=\"region\"\n                            aria-labelledby=\"button-5-faq\"\n                    >\n                        <p>Bankruptcy does not \u201cruin&quot; your credit score. For one thing, bankruptcy filers typically don&#8217;t have an outstanding credit score to begin with. Furthermore, bankruptcy looks much better than foreclosure, repossession, and other entries which indicate that the debtor quit. If you file bankruptcy, at least you are doing something to improve your financial situation.<\/p>\n\n                    <\/div>\n                <\/div>\n                            <div\n                        class=\"fl-accordion-item\"\n                        id=\"section-6-faq\"\n                        aria-labelledby=\"button-6-faq\"\n                        data-testid=\"fl-accordion-item\"\n                >\n                    <h4\n                            class=\"fl-accordion-header fl-flex fl-items-center fl-justify-between fl-no-margin\"\n                            data-testid=\"fl-faq-question-header-6\"\n                    >\n                        <button\n                                id=\"button-6-faq\"\n                                aria-expanded=\"true\"\n                                aria-controls=\"content-6-faq\"\n                                class=\"fl-accordion-button fl-accordion-button-h4 fl-flex fl-flex-auto fl-justify-between is-opened fl-text-underline\"\n                                type=\"button\"\n                        >\n                            Can you rent after bankruptcy?\n                            <span aria-hidden=\"true\">\n                                <i\n                                        class=\"fa fa-angle-down small\"\n                                        aria-hidden=\"true\"\n                                ><\/i>\n                            <\/span>\n                        <\/button>\n                    <\/h4>\n                    <div\n                            class=\"fl-accordion-content active\"\n                            data-testid=\"fl-faq-question-content-6\"\n                            id=\"content-6-faq\"\n                            role=\"region\"\n                            aria-labelledby=\"button-6-faq\"\n                    >\n                        <p>A bankruptcy filing does not disqualify you from renting property. It&#8217;s illegal to discriminate against people who file. Some landlords have credit score requirements, but that&#8217;s a separate issue.<\/p>\n\n                    <\/div>\n                <\/div>\n                            <div\n                        class=\"fl-accordion-item\"\n                        id=\"section-7-faq\"\n                        aria-labelledby=\"button-7-faq\"\n                        data-testid=\"fl-accordion-item\"\n                >\n                    <h4\n                            class=\"fl-accordion-header fl-flex fl-items-center fl-justify-between fl-no-margin\"\n                            data-testid=\"fl-faq-question-header-7\"\n                    >\n                        <button\n                                id=\"button-7-faq\"\n                                aria-expanded=\"true\"\n                                aria-controls=\"content-7-faq\"\n                                class=\"fl-accordion-button fl-accordion-button-h4 fl-flex fl-flex-auto fl-justify-between is-opened fl-text-underline\"\n                                type=\"button\"\n                        >\n                            Can I keep my cell phone in Chapter 7?\n                            <span aria-hidden=\"true\">\n                                <i\n                                        class=\"fa fa-angle-down small\"\n                                        aria-hidden=\"true\"\n                                ><\/i>\n                            <\/span>\n                        <\/button>\n                    <\/h4>\n                    <div\n                            class=\"fl-accordion-content active\"\n                            data-testid=\"fl-faq-question-content-7\"\n                            id=\"content-7-faq\"\n                            role=\"region\"\n                            aria-labelledby=\"button-7-faq\"\n                    >\n                        <p>Absolutely. You have the opportunity to keep paying on cell phones, internet, insurance, and other executory contracts. These payments must not affect your ability to make a monthly Chapter 13 debt consolidation payment.<\/p>\n\n                    <\/div>\n                <\/div>\n                    <\/div>\n    <\/div>\n<\/section>\n\n<div class=\"was-this-helpful\">\n    <div\n            class=\"was-this-helpful__question-container\"\n            aria-labelledby=\"was-this-helpful__question\"\n            role=\"group\"\n    >\n        <span\n                id=\"was-this-helpful__question\"\n                class=\"was-this-helpful__question fl-text-lg-bold\"\n        >Was this helpful?<\/span>\n        <button\n                class=\"was-this-helpful__button fl-text-sm\"\n                aria-label=\"Yes\"\n                value=\"yes\"\n        >\n            <span class=\"was-this-helpful__button-text fl-text-bold\">Yes<\/span>\n            <i class=\"was-this-helpful__button-icon\">\n                <svg width=\"22\" height=\"22\" viewBox=\"0 0 22 22\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n                    <g id=\"thumbs-up\" clip-path=\"url(#clip0_604_3418)\">\n                        <path id=\"Vector\"\n                              d=\"M6 21H3C2.46957 21 1.96086 20.7893 1.58579 20.4142C1.21071 20.0391 1 19.5304 1 19V12C1 11.4696 1.21071 10.9609 1.58579 10.5858C1.96086 10.2107 2.46957 10 3 10H6M13 8V4C13 3.20435 12.6839 2.44129 12.1213 1.87868C11.5587 1.31607 10.7956 1 10 1L6 10V21H17.28C17.7623 21.0055 18.2304 20.8364 18.5979 20.524C18.9654 20.2116 19.2077 19.7769 19.28 19.3L20.66 10.3C20.7035 10.0134 20.6842 9.72068 20.6033 9.44225C20.5225 9.16382 20.3821 8.90629 20.1919 8.68751C20.0016 8.46873 19.7661 8.29393 19.5016 8.17522C19.2371 8.0565 18.9499 7.99672 18.66 8H13Z\"\n                              stroke=\"#666666\" stroke-width=\"2\" stroke-linecap=\"round\"\n                              stroke-linejoin=\"round\"><\/path>\n                    <\/g>\n                    <defs>\n                        <clipPath id=\"clip0_604_3418\">\n                            <rect width=\"22\" height=\"22\" fill=\"white\"><\/rect>\n                        <\/clipPath>\n                    <\/defs>\n                <\/svg>\n            <\/i>\n        <\/button>\n        <button\n                class=\"was-this-helpful__button fl-text-sm\"\n                aria-label=\"No\"\n                value=\"no\"\n        >\n            <span class=\"was-this-helpful__button-text fl-text-bold\">No<\/span>\n            <i class=\"was-this-helpful__button-icon\">\n                <svg width=\"22\" height=\"22\" viewBox=\"0 0 22 22\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n                    <g id=\"thumbs-down\" clip-path=\"url(#clip0_604_3423)\">\n                        <path id=\"Vector\"\n                              d=\"M16 0.999995H18.67C19.236 0.989986 19.7859 1.18813 20.2154 1.55681C20.645 1.9255 20.9242 2.43905 21 3V10C20.9242 10.5609 20.645 11.0745 20.2154 11.4432C19.7859 11.8119 19.236 12.01 18.67 12H16M9.00003 14V18C9.00003 18.7956 9.3161 19.5587 9.87871 20.1213C10.4413 20.6839 11.2044 21 12 21L16 12V0.999995H4.72003C4.2377 0.994543 3.76965 1.16359 3.40212 1.47599C3.0346 1.78839 2.79235 2.22309 2.72003 2.7L1.34003 11.7C1.29652 11.9866 1.31586 12.2793 1.39669 12.5577C1.47753 12.8362 1.61793 13.0937 1.80817 13.3125C1.99842 13.5313 2.23395 13.7061 2.49846 13.8248C2.76297 13.9435 3.05012 14.0033 3.34003 14H9.00003Z\"\n                              stroke=\"#666666\" stroke-width=\"2\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\/>\n                    <\/g>\n                    <defs>\n                        <clipPath id=\"clip0_604_3423\">\n                            <rect width=\"22\" height=\"22\" fill=\"white\"\/>\n                        <\/clipPath>\n                    <\/defs>\n                <\/svg>\n            <\/i>\n        <\/button>\n    <\/div>\n    <span class=\"was-this-helpful__taken-action fl-text-sm-bold\"><\/span>\n    <div class=\"was-this-helpful__feedback-container\">\n        <div class=\"was-this-helpful__choose-option-message\" role=\"status\">\n            <p class=\"was-this-helpful__choose-option-message-text\"><\/p>\n        <\/div>\n        <form class=\"was-this-helpful__feedback-form\">\n            <div class=\"was-this-helpful__feedback was-this-helpful__feedback--positive\">\n                <fieldset>\n                    <legend class=\"was-this-helpful__feedback-form-title\" tabindex=\"0\">Why was this helpful?<\/legend>\n                    <div class=\"fl-radio-button-field fl-flex was-this-helpful__feedback-form-title\">\n                        <input\n                                id=\"was-this-helpful__radio-button--understandable\"\n                                class=\"fl-radio-button-field-input\"\n                                type=\"radio\"\n                                name=\"positive-feedback\"\n                                value=\"Easy to understand\"\n                        >\n                        <label\n                                class=\"fl-radio-button-field-label fl-text-sm was-this-helpful__radio-label\"\n                                for=\"was-this-helpful__radio-button--understandable\"\n                        >Easy to understand<\/label>\n                    <\/div>\n                    <div class=\"fl-radio-button-field fl-flex was-this-helpful__feedback-form-title\">\n                        <input\n                                id=\"was-this-helpful__radio-button--solved-problem\"\n                                class=\"fl-radio-button-field-input\"\n                                type=\"radio\"\n                                name=\"positive-feedback\"\n                                value=\"Solved my problem\"\n                        >\n                        <label\n                                class=\"fl-radio-button-field-label fl-text-sm was-this-helpful__radio-label\"\n                                for=\"was-this-helpful__radio-button--solved-problem\"\n                        >Solved my problem<\/label>\n                    <\/div>\n                    <div class=\"fl-radio-button-field fl-flex was-this-helpful__feedback-form-title\">\n                        <input\n                                id=\"was-this-helpful__radio-button--other\"\n                                class=\"fl-radio-button-field-input\"\n                                type=\"radio\"\n                                name=\"positive-feedback\"\n                                value=\"Other\"\n                        >\n                        <label\n                                class=\"fl-radio-button-field-label fl-text-sm was-this-helpful__radio-label\"\n                                for=\"was-this-helpful__radio-button--other\"\n                        >Other<\/label>\n                    <\/div>\n                <\/fieldset>\n            <\/div>\n            <div class=\"was-this-helpful__feedback was-this-helpful__feedback--negative\">\n                <fieldset>\n                    <legend class=\"was-this-helpful__feedback-form-title\" tabindex=\"0\">Why was this not helpful?<\/legend>\n                    <div class=\"was-this-helpful__choose-option-message\" role=\"status\">\n                        <p class=\"was-this-helpful__choose-option-message-text\"><\/p>\n                    <\/div>\n                    <div class=\"fl-radio-button-field fl-flex was-this-helpful__feedback-form-title\">\n                        <input\n                                id=\"was-this-helpful__radio-button--missing-info\"\n                                class=\"fl-radio-button-field-input\"\n                                type=\"radio\"\n                                name=\"negative-feedback\"\n                                value=\"Missing Information\"\n                        >\n                        <label\n                                class=\"fl-radio-button-field-label fl-text-sm was-this-helpful__radio-label\"\n                                for=\"was-this-helpful__radio-button--missing-info\"\n                        >Missing the information I need<\/label>\n                    <\/div>\n                    <div class=\"fl-radio-button-field fl-flex was-this-helpful__feedback-form-title\">\n                        <input\n                                id=\"was-this-helpful__radio-button--complicated\"\n                                class=\"fl-radio-button-field-input\"\n                                type=\"radio\"\n                                name=\"negative-feedback\"\n                                value=\"Too complicated\"\n                        >\n                        <label\n                                class=\"fl-radio-button-field-label fl-text-sm was-this-helpful__radio-label\"\n                                for=\"was-this-helpful__radio-button--complicated\"\n                        >Too complicated \/ too many steps<\/label>\n                    <\/div>\n                    <div class=\"fl-radio-button-field fl-flex was-this-helpful__feedback-form-title\">\n                        <input\n                                id=\"was-this-helpful__radio-button--dated\"\n                                class=\"fl-radio-button-field-input\"\n                                type=\"radio\"\n                                name=\"negative-feedback\"\n                                value=\"Out of date\"\n                        >\n                        <label\n                                class=\"fl-radio-button-field-label fl-text-sm was-this-helpful__radio-label\"\n                                for=\"was-this-helpful__radio-button--dated\"\n                        >Out of date<\/label>\n                    <\/div>\n                    <div class=\"fl-radio-button-field fl-flex was-this-helpful__feedback-form-title\">\n                        <input\n                                id=\"was-this-helpful__radio-button--negative-other\"\n                                class=\"fl-radio-button-field-input\"\n                                type=\"radio\"\n                                name=\"negative-feedback\"\n                                value=\"Other\"\n                        >\n                        <label\n                                class=\"fl-radio-button-field-label fl-text-sm was-this-helpful__radio-label\"\n                                for=\"was-this-helpful__radio-button--negative-other\"\n                        >Other<\/label>\n                    <\/div>\n                <\/fieldset>\n            <\/div>\n            <div class=\"was-this-helpful__form-buttons-container\">\n                <button\n                    class=\"was-this-helpful__feedback-button was-this-helpful__feedback-button--positive at-feedback-submit fl-button secondary\"\n                    type=\"submit\"\n                >\n                    <span class=\"fl-button-content\">Submit<\/span>\n                    <i\n                        class=\"fa fa-angle-right medium\"\n                        aria-hidden=\"true\"\n                    ><\/i>\n                <\/button>\n                <button\n                    class=\"was-this-helpful__feedback-button was-this-helpful__feedback-button--cancel fl-button primary disabled\"\n                    type=\"reset\"\n                >\n                    <span class=\"fl-button-content\">Cancel<\/span>\n                    <i\n                        class=\"fa fa-times-circle medium\"\n                        aria-hidden=\"true\"\n                    ><\/i>\n                <\/button>\n            <\/div>\n        <\/form>\n    <\/div>\n    <div class=\"was-this-helpful__thank-you-message\" role=\"status\">\n        <i class=\"was-this-helpful__thank-you-message-icon fa fa-check\"><\/i>\n        <p class=\"was-this-helpful__thank-you-message-text\" aria-live=\"polite\"><\/p>\n    <\/div>\n<\/div>\n\n\n    <\/div>\n    \n    <div class=\"fl-section-sidebar\">\n        \n                        \n\n<div class=\"generalCardContainer\">\n            \n<div\n    class=\"fl-image-card fl-image-card--no-max-width fl-image-card--no-min-height fl-card-with-children fl-latl-card fl-image-card-title-on-image fl-flex fl-flex-column\"\n>\n                    <span class=\"\"\n        >\n\n            <div class=\"fl-image-card-image-wrapper fl-image-card-image-wrapper-default\">\n                <img decoding=\"async\" loading=\"lazy\"\n                     src=\"https://www.findlaw.com/static/c/images\/images\/w_1200,c_limit,dpr_auto\/f_auto,q_auto:eco\/v1747061756\/ability-law\/wp-prod\/content-original-images-BankruptcyCourt\/content-original-images-BankruptcyCourt.jpg?_i=AA\"\n                     alt=\"\"\n                ><\/img>\n                                                    <div class=\"fl-image-card-title\">\n                        <i class=\"fa fa-angle-right small fl-mr5\" aria-hidden=\"true\"><\/i>\n                        <h3\n                            class=\"fl-no-margin fl-h3-landing\"\n                            data-testid=\"fl-image-card-title\"\n                        >\n                            <span class=\"fl-image-card-title-link\">Arkansas Bankruptcy Courts<\/span>\n                        <\/h3>\n                    <\/div>\n                            <\/div>\n                <\/span>\n\n        <div class=\"fl-image-card-content fl-flex-basis-100\">\n                    <h2>Where Do I File?<\/h2>\n<p>Some courts offer limited service while others offer full service. There are federal courts in:<\/p>\n<ul>\n<li><a href=\"http:\/\/www.are.uscourts.gov\/\" target=\"_blank\" rel=\"noopener\">Little Rock<\/a><\/li>\n<li><a href=\"http:\/\/www.arwd.uscourts.gov\/\" target=\"_blank\" rel=\"noopener\">Hot Springs<\/a><\/li>\n<li><a href=\"http:\/\/www.arwd.uscourts.gov\/\" target=\"_blank\" rel=\"noopener\">Fort Smith<\/a><\/li>\n<li><a href=\"http:\/\/www.arwd.uscourts.gov\/\" target=\"_blank\" rel=\"noopener\">El Dorado<\/a><\/li>\n<li><a href=\"http:\/\/www.arwd.uscourts.gov\/\" target=\"_blank\" rel=\"noopener\">Fayetteville<\/a>.&nbsp;<\/li>\n<\/ul>\n\n            <\/div>\n            <div\n            class=\"fl-latl-card-footer fl-flex fl-items-center fl-justify-center\"\n        >\n                    <a class=\"fl-latl-card-footer-link fl-text-lg-medium fl-flex fl-items-center fl-justify-center\" href=\"https:\/\/www.uslegalforms.com\/search\/?state=ar&#038;query=bankruptcy&#038;field=anywhere\" target=\"_blank\" rel=\"noopener\">\n\n                <span>Bankruptcy Forms<\/span>\n                <i class=\"fa fa-angle-right medium\" aria-hidden=\"true\"><\/i>\n                    <\/a>\n\n        <\/div>\n    <\/div>\n    <\/div>\n\n    <\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>State or federal law protects most of your property in bankruptcy. Learn how bankruptcy works in Arkansas, including what property you can keep.<\/p>\n","protected":false},"author":41135,"featured_media":0,"parent":286821,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"app\/Http\/Controllers\/Templates\/ArticleWithBreadcrumbsController.php","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_autodraft_ids":[],"_cloudinary_featured_overwrite":false,"_sb_is_suggestion_mode":false,"_sb_show_suggestion_boards":false,"_sb_show_comment_boards":false,"_sb_suggestion_history":"","_sb_update_block_changes":"","_is_real_time_mode":false,"_realtime_collaborators":"","footnotes":"","cf_checklist_status":[]},"categories":[2727],"tags":[],"state_laws_tags":[],"flmsa":[],"class_list":["post-286825","page","type-page","status-publish","hentry","category-bankruptcy"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.findlaw.com\/law-api\/wp-json\/wp\/v2\/pages\/286825","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.findlaw.com\/law-api\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.findlaw.com\/law-api\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.findlaw.com\/law-api\/wp-json\/wp\/v2\/users\/41135"}],"replies":[{"embeddable":true,"href":"https:\/\/www.findlaw.com\/law-api\/wp-json\/wp\/v2\/comments?post=286825"}],"version-history":[{"count":0,"href":"https:\/\/www.findlaw.com\/law-api\/wp-json\/wp\/v2\/pages\/286825\/revisions"}],"up":[{"embeddable":true,"href":"https:\/\/www.findlaw.com\/law-api\/wp-json\/wp\/v2\/pages\/286821"}],"wp:attachment":[{"href":"https:\/\/www.findlaw.com\/law-api\/wp-json\/wp\/v2\/media?parent=286825"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.findlaw.com\/law-api\/wp-json\/wp\/v2\/categories?post=286825"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.findlaw.com\/law-api\/wp-json\/wp\/v2\/tags?post=286825"},{"taxonomy":"state_laws_tags","embeddable":true,"href":"https:\/\/www.findlaw.com\/law-api\/wp-json\/wp\/v2\/state_laws_tags?post=286825"},{"taxonomy":"flmsa","embeddable":true,"href":"https:\/\/www.findlaw.com\/law-api\/wp-json\/wp\/v2\/flmsa?post=286825"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}