How much is a bankruptcy lawyer in Arkansas?
Asked by: Art Goldner Sr. | Last update: September 7, 2022Score: 4.8/5 (15 votes)
How much does it cost to file bankruptcy in the state of Arkansas?
Get Your Filing Fee
The court filing fee for a Chapter 7 bankruptcy in Arkansas is $338. But you can apply to have this fee waived if you meet certain eligibility requirements. Generally speaking, to be eligible for the fee waiver, your income must fall below 150% of the federal poverty guidelines.
How much does it cost to file Chapter 13 bankruptcy in Arkansas?
Chapter 13 filing fee is $310. Chapter 7 filing fee is $335. If you cannot afford to pay this upfront, we can file a petition with the court allowing you time to pay the filing fee out in weekly installments. Bankruptcy law requires you to do credit counseling before the case can be filed.
Why should I hire a bankruptcy lawyer?
What Does a Bankruptcy Attorney Do? A bankruptcy attorney can help you size up your financial circumstances, including the types and amounts of the debts that are overwhelming you, and advise you about whether it's wise to pursue bankruptcy at all.
Do I qualify for Chapter 7 Arkansas?
First, if you can show that your total current monthly income is less than the median income in Arkansas for a family of the same size, you are immediately qualified to file a Chapter 7 case.
Do You Need a Bankruptcy Lawyer? (Arkansas)
Can I keep my car if I file Chapter 7 in Arkansas?
In Arkansas, people also have the option to choose between the state's exemptions and the federal exemptions. So can I file bankruptcy and keep my house and car? In most cases, yes you can.
What is the income limit to file Chapter 7 in Arkansas?
If your total monthly income over the course of the next 60 months is less than $7,475 then you pass the means test and you may file a Chapter 7 bankruptcy. If it is over $12,475 then you fail the means test and don't have the option of filing Chapter 7.
What are the differences between Chapter 7 and Chapter 13 bankruptcy?
With Chapter 7, those types of debts are wiped out with your filing's court approval, which can take a few months. Under Chapter 13, you need to continue making payments on those balances throughout your court-instructed repayment plan; afterwards, the unsecured debts may be discharged.
What is a bankruptcy attorney office?
A bankruptcy attorney is a lawyer that specializes in the bankruptcy process, having knowledge about the various types of bankruptcy, filing the required documents with the court, and issues with creditors. Most bankruptcy lawyers handle either consumer (personal) bankruptcy, or commercial (business) bankruptcy.
How much do you pay monthly for bankruptcies?
If the family income is greater than the amount on the Standards, the bankrupt is required to pay 50% of the EXCESS. For example, if you earned $400 more each month than the Standards indicate is necessary, you would be required to pay 50% or that, or $200 per month.
What is Arkansas debt relief?
Arkansas Resident Debt Relief. InCharge provides free, nonprofit credit counseling and debt management programs to Arkansas residents. If you live in Arkansas and need help paying off your credit card debt, InCharge can help you.
Can creditors take your house in Arkansas?
What kind of property is subject to a judgment lien under Arkansas law? In every state, a judgment lien can be attached to the debtor's real estate -- meaning a house, condo, land, or similar kind of property interest.
What is Chapter 7 bankruptcy in Arkansas?
In a Chapter 7 bankruptcy you wipe out your debts and get a “Fresh Start”. Chapter 7 bankruptcy is a liquidation where the trustee collects all of your assets and sells any assets which are not exempt. (see Arkansas Exemptions) The trustee sells the assets and pays you, the debtor, any amount exempted.
Can you file bankruptcy on medical bills in Arkansas?
What kinds of debts can be discharged under bankruptcy in Arkansas? Many types of unsecured debts, unsecured loans, and old account balances can be discharged under Chapter 7 bankruptcy, including credit card bills, medical bills, and personal loans.
Does Arkansas allow federal bankruptcy exemptions?
Arkansas is one of the few states which allows you to choose between federal and state bankruptcy exemptions.
Does the government pay for bankruptcies?
So Who Actually Pays for Bankruptcies? The person who files for bankruptcy is typically the one that pays the court filing fee, which partially funds the court system and related aspects of bankruptcy cases. Individuals who earn less than 150% of the federal poverty guidelines can ask to have the fee waived.
What does a bankruptcy consultant do?
An experienced bankruptcy attorney can guide you through the dizzying maze of decisions, paperwork and procedure that marks a bankruptcy filing, whether it is a chapter 7 or chapter 13. At the outset, a bankruptcy attorney is there to counsel you on the bankruptcy process and whether it is right for you.
What debts are not discharged in bankruptcy?
Additional Non-Dischargeable Debts
Certain debts for luxury goods or services bought 90 days before filing. Certain cash advances taken within 70 days after filing. Debts from willful and malicious acts. Debts from embezzlement, theft, or breach of fiduciary duty.
What bankruptcy clears all debt?
Chapter 7 bankruptcy is a legal debt relief tool. If you've fallen on hard times and are struggling to keep up with your debt, filing Chapter 7 can give you a fresh start. For most, this means the bankruptcy discharge wipes out all of their debt.
How much do you have to be in debt to file Chapter 7?
Again, there's no minimum or maximum amount of unsecured debt required to file Chapter 7 bankruptcy. In fact, your amount of debt doesn't affect your eligibility at all. You can file as long as you pass the means test. One thing that does matter is when you incurred your unsecured debt.
How do you beat the mean test?
Using Your Expenses to Pass the Means Test
As a result, if your income is high, your expenses must also be high to pass the means test. The means test requires debtors to use national and local standards for most living expenses, rather than the actual amount of the debtor's expenses.
What is the maximum income for Chapter 7 in Georgia?
If your total monthly income over the course of the next 60 months is less than $7,475 then you pass the means test and you may file a Chapter 7 bankruptcy. If it is over $12,475 then you fail the means test and don't have the option of filing Chapter 7.
What do you lose when you file Chapter 7?
A Chapter 7 bankruptcy will generally discharge your unsecured debts, such as credit card debt, medical bills and unsecured personal loans. The court will discharge these debts at the end of the process, generally about four to six months after you start.
Will Chapter 7 pay off my car?
Many people are under the mistaken belief that filing bankruptcy allows you to wipe out an auto loan and keep the vehicle free and clear of any payments. It just isn't true. Bankruptcy will unwind your obligation to pay back the loan. But if you don't make the payment, you won't be driving the car for long.
Should I pay off my car before filing Chapter 7?
Keep the car, keep the debt
If you don't pay the loan off, the car lender can repossess the car and even start a wage garnishment to collect the loan balance. This is especially risky because you can only file Chapter 7 bankruptcy every 8 years, so there is no easy relief available if anything goes wrong.