Submit a Request...Receive the help you need!
We've helped 22 clients find affordable attorneys today.

Click here to know more about membership
  • Members have 24/7 emergency access to their attorneys via Mobile App.
  • Legal consultation for all personal legal matters.
  • You get instant access to your own dedicated law firm.
  • Membership covers you, your spouse/partner, children and dependents.
  • 101 more reasons. Read here
Close

Arkansas Bankruptcy Laws

HomeArkansas BankruptcyArkansas Bankruptcy Laws

As per the Arkansas bankruptcy laws

a person who is no more in a state to pay off his debt can surrender.

In this case he gives off his personal property like house or vehicle to clear off his remaining debts.

Let’s go through the diverse section of chapter 7 and 13.

  • In chapter 7 you only pay the amount proposed by your lawyer.
  • Next you only need to pay on your confirmed debt that you are maintaining and your surviving expenses subsequently.
  • Chapter 13 is considered to be ‘restructuring’ or ‘wage earner’ because
    • over here the individual have certain capability to pay off the debts to the creditors.
  • In chapter 13 your overdue amount is restructured into one, more inexpensive expense

Importantt: The articles available on uslawyer.us are neither legal advice, nor a replacement for an attorney. The articles are general information and guidance concerning different legal issues. We make sure that these articles prove helpful to you but we do not promise or guarantee that they are suitable to your condition. We also do not take responsibility for any loss that might cause to you using these articles. Hence, it is strictly suggested to not to rely on the information provided in these articles completely without getting expert legal advice. It is also suggested to consult or hire an attorney in case of any doubt.