There’s much to consider following the closure of a Chapter 13 bankruptcy proceeding and repayment plan. You may be able to pay off more debt than you think, but your credit score will take a significant hit as a result.
The homestead exception was established to help struggling homeowners stay in their homes through a bankruptcy proceeding. The Arkansas homestead exemption allows qualifying debtors to protect urban homesteads on quarter-acre lots and rural homesteads on eighty-acre plots to protect the full value of their home and land. For debtors who don’t qualify for the Arkansas exemption or who have substantial personal property, federal exemptions provide for a great deal of asset protection as well.
Military members both active and retired have extra rights and options when it comes to bankruptcy. It’s important to understand each route as there are exclusion periods, security clearance issues, and more to consider.
There are a lot of facts – along with a lot of myths – out there about individual bankruptcy. This post highlights five facts anyone considering either should know about what happens in Chapter 7 and Chapter 13 proceedings.
Chapter 11 bankruptcy should be the last resort option for a business in a financial crisis, but it can be used strategically to help companies recover and come out in a better financial state on the other side.
Real estate ownership plays a big role in paying back debts to creditors through a Chapter 13 Bankruptcy proceeding. There are specific rules and requirements to follow in order to keep property and other assets.
For more information about family law, guardianship, real estate law, probate, estate planning, aviation law, administrative law, employment law, firearms law, construction law, or business law, contact Natural State Law, PLLC today. Call (501) 916-2878 to speak with a dedicated Little Rock attorney.
Natural State Law, PLLC is a family and business law firm focused on meeting various needs in personal and commercial disputes. We also offer legal guidance pertaining to real estate, bankruptcy, estate planning, aviation, and firearms.
Little Rock Office
900 S Shackleford Road Ste 705 Little Rock, Arkansas 72211
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