Little Rock Property Exemptions Attorneys

Helping You Keep Your Property

Contrary to what many people believe, most people can keep all or most of their property after a bankruptcy filing.

At Robertson, Oswalt and Associates, our attorneys have a comprehensive understanding of the bankruptcy laws. We use this knowledge and our experience to protect our clients' property and to help them get maximum debt relief.

To learn more about your options and how we can help you get debt relief through Chapter 7 or Chapter 13 bankruptcy, contact Robertson, Oswalt and Associates.

Arkansas Vs. Federal Property Exemptions

The state of Arkansas allows people filing bankruptcy to use either the Arkansas or federal property exemptions. Which set of exemptions is better for you? That question can be answered only after a careful review of your situation. But generally speaking, the federal exemptions are more generous than the Arkansas exemptions.

Arkansas exemptions — You can protect your residence from the reach of creditors, subject to an acreage restriction (one-quarter acre for town property and 80 acres for rural property). You may also exempt your clothes and up to $500 of personal property ($200 if you are single with no dependents). If you are married, each spouse can exempt up to $500 of personal property.

Federal exemptions — The exemptions listed below are for a single person. Exemptions for married couples are twice the amount shown.

  • Home equity — $21,265
  • Vehicle — $3,450
  • Personal property — $10,775
  • Jewelry — $1,450
  • Wild card — $1,150 for any property plus up to $10,825 of the unused portion of the homestead exemption
  • Tools of the trade or work items — $2,175
  • Life insurance policy with loan value up to $11,525
  • Health aids — completely exempt
  • Social Security, veterans and public assistance benefits — completely exempt
  • Pensions, IRA, 401(k) and other tax deferred accounts — completely exempt

If you are filing Chapter 13 bankruptcy, our firm can help you protect all of your home equity, if you meet certain requirements.

Get A Fresh Financial Start

The purpose of the bankruptcy system is not to punish debtors. It was put in place to help financially stressed people deal with their debt problems and get a fresh financial start. Our Little Rock bankruptcy lawyers will work diligently to help you keep as much of your property as possible. Though there may be rough spots in the road ahead, you can build a better future for yourself and your family.

Contact Us

For a consultation with a knowledgeable Little Rock property exemptions lawyer, contact Robertson, Oswalt and Associates.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.