There is no magic formula for deciding when bankruptcy is the right choice. It is an option you might consider if you can't budget yourself out of debt within five years, are getting notices that your mortgage or loans are being foreclosed, have had a severe financial setback, such as losing your job or a major client, a divorce or a costly illness or even if you are paying only minimum amounts on your bills.
As a consumer, you can file for bankruptcy in Arkansas Bankruptcy Court under either Chapter 7 (Straight Bankruptcy) to wipe out all debts except those listed and get an immediate fresh start or Chapter 13 (Wage Earner Bankruptcy) to set up a repayment plan to pay back your debts over several years' time. Filing a bankruptcy petition requires one to pay a filing fee. In case of a Chapter 7 case the filing fee required is $200 and for a Chapter 13 case the filing fee is $ 185. If you are filing a petition for bankruptcy under Chapter 13 you will also have to furnish a proposal stating your repayment plan, along with the filing fee. The repayment plan needs to be approved by the creditors and the court.
The filing of a petition commences a bankruptcy case. You must also file a statement of your assets and liabilities and schedules listing your creditors. Following the Bankruptcy Court Information, usually after 20 to 40 days after you file your petition, the trustee will hold the "first meeting of creditors" (also called a "341" meeting).
It is the Arkansas Eastern District Court to oversee the Eastern District and the Western District under the jurisdiction of Arkansas Western District Court. The eastern District courts are located at Batesville, Helena, Jonesboro, Little Rock and Pine Bluff whereas the western District Courts are housed at El Dorado, Fayetteville, Fort Smith, Harrison, Hot Springs, Little Rock and Texarkana.
Access Arkansas Bankruptcy Records Online
Free Arkansas Records database are available online for private services to look into someone's Bankruptcy record. They provide great research tools to do searches yourself. Get an extensive list of Arkansas Bankruptcy Records. What is important is that accessing such records is anonymous and secure so you can seek information without disclosing your personal details or your identity. Find records or compile information by gathering court cases and driver's record of your partner and take precautions for your business ventures. Search incorporations, cooperatives, banks and insurance companies.
Explore Arkansas Bankruptcy Court Records for personal assets, capital, claims, and holdings. Investigate inheritance, ownership, real estate, titles and unclaimed assets.
Arkansas Bankruptcy Court Record of 2002 states that there have been 23,546 Bankruptcy cases of which 23,264 consumer and the other 282 were being Business case. The Eastern District Court reported of 15,107 that include consumer cases of 14,959. The Western District Court recorded the sum of 8,439 cases. This includes consumer case of around 8,305 and the remaining 134 as business purpose.
A close look at some individual files of Arkansas Bankruptcy Court Records verifies the sudden rise in filing of lawsuits throughout the State. It is the White v. Nisbett Case filed on July 1, 2009 in the Little Rock Office of Arkansas Eastern District Court (No: 4:2009cv00473) with the presiding Judge Susan Webber Wright, the Plaintiff Bennie Jean White sued against the defendant Lynda Jayne Nisbett.
The recent lawsuits of that of the defendant, Peggy G Vickers against the Plaintiff, The Eudora Bank on May 15, 2009 in Little Rock Office (No 4:2009cv00372) adds to the records of Arkansas Bankruptcy Files.
Few noteworthy withdrawal of Arkansas Bankruptcies include the case of Renee S Williams against Living Hope Southeast, LLC, David Kimbro Stephens, Mike Grundy and Maxwell Dean Hill, Sr. The presiding judge is Honorable Harry F. Barnes and it was filed on March 11, 2009 with No 4:2009mc00003.