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Arkansas Bankruptcy Info

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Arkansas Bankruptcy Information

Batesville  .  El Dorado  .  Fayetteville  .  Fort Smith  .  Harrison  .  Helena  .  Hot Springs  .  Jonesboro  .  Little Rock  .  Pine Bluff  .  Texarkana  . 

Arkansas Median Income Standards

 

Arkansas Bankruptcy Exemptions

Arkansas Homestead

For married person or head of family: unlimited exemption on real or personal property used as residence to 1/4 acre in city, town, or village, or 80 acres elsewhere; if property is between 1/4 to 1 acre in city, town, or village, or 80-160 acres elsewhere, additional limit is $2,500; homestead may not exceed 1 acre in city, town, or village, or 160 acres elsewhere (husband & wife may not double)

Vehicle

$200 is maximum personal property exemption allowed under the Arkansas Constitution, although the statute allows an exemption of $1,200. Courts have held that amounts in excess of the Arkansas constitution are unconstitutional.

Wages

Earned but unpaid wages due for 60 days; in no event less than $25 per week

Personal property & Tools of Trade

Clothing, wedding rings (see wild card). However, $200 is maximum personal property exemption allowed under the Arkansas Constitution, even if a statute allows more.

WildCard

Arkansas statute allows $500 of any personal property if married or head of family; $200 if not married. However, $200 is maximum personal property exemption allowed under the Arkansas Constitution, even if a statute allows more.

More info About __ Bankrutpcy Exemptions including citations.

Arkansas Bankruptcy Courts

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