After filing for personal bankruptcy, the court will freeze most of your financial assets, and you’ll be granted an automatic stay (meaning creditors cannot pursue your debts). From there, the court will assign your case to a trustee, and that person will organize a Meeting of Creditors to alert them of your filing.
There are many facts – along with a lot of myths – out there about couples filing for bankruptcy during a marriage. This post highlights a few different things married couples in Arkansas should consider before pursuing bankruptcy.
Converting a Chapter 13 bankruptcy to a Chapter 7 proceeding may be the right option for those looking to liquidate and consolidate assets in a more efficient fashion in Arkansas. Read this blog post to learn more.
Child support debt cannot be discharged in either personal bankruptcy filing. In some cases, a support obligation may shift resources from one debt to another, but it’s important to note there are no options to discharge or liquidate the debt.
There is plenty to think about for Arkansas business owners considering Chapter 7, 11, or 13 Bankruptcy. This post outlines three initial things to think about, along with broader considerations about the state of the business in question. In any case, Natural State Law is here to help.
This post discusses some of the advantages of filing for Chapter 7 bankruptcy. It’s a potentially viable option for those in serious debt in Arkansas looking for a way out to start over financially.
There are different timelines to consider within the Bankruptcy Code regarding how many times you could file for a personal or business bankruptcy. This post discusses how many times you can file for bankruptcy in Arkansas.
In most cases, the 341 hearing is a lot less intimidating than it sounds. Unless there are significant issues or remaining assets, creditors will likely not show up, and the Chapter 7 or 13 bankruptcy filing will move along as planned.
There are ways to keep your home through bankruptcy, but they need to be done within the guidance of a qualified bankruptcy attorney. There are routes for home protection through Chapter 7 or Chapter 13, but both need to be done with great care.
Understanding how bankruptcy will affect your employees is crucial as you consider filing. Employees are entitled to certain protections and compensation that will affect the overall value and cost-cutting of Chapter 7 or Chapter 11.