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.
Debts that cannot be discharged by Chapter 7 or Chapter 13 bankruptcy include:
Alimony and Child Support
Criminal fines or penalties
Civil judgments against you resulting from DWI convictions or fraud.
Will filing bankruptcy affect my credit?
Bankruptcy can appear on your credit score for no more than 10 years. Filing bankruptcy wipes out your debts, so you can be in a better position to pay your current bills and obtain new credit when needed.
How long does bankruptcy take?
After filing a Chapter 7 bankruptcy petition, your debts may be discharged—or forgiven—in as little as three to six months. If you choose to file Chapter 13 bankruptcy, you can start making your court-ordered payments within 30 days of filing your petition. Court-ordered payment plans under Chapter 13 bankruptcy can take 3-5 years to complete.
How much does it cost to file bankruptcy in California?
Visit the U.S. Courts bankruptcy filing fees page to see an up-to-date schedule of consumer and commercial bankruptcy filing fees. Based on your financial situation, you may be able to waive the filing fee or pay it in installments.
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