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Arkansas Bankruptcy

Exemption Court
Arkansas Bankruptcy Exemption
Homestead:
  • Rural homestead: Up to 160 acres and within limit of $ 2500 value and should be above 80 acres irrespective of the worth.
  • Urban homestead: Up to 1 acre and within the limit of $ 2500 value and should be above 1/4 acre irrespective of the worth.
Wages:
Net earnings for 60 days $ 25 per week and excess earnings can be included in personal property quota.

Personal Property:
Any kind of personal assets or belongings up to the amount of $ 800 for unmarried debtor and $ 1,250 for married debtor.

Vehicle:
One automobile up to the extent of $ 1,200.

Professional Stuffs:
Professional books and tools of trade up to the extent of $ 750.

Wages:
75% of the net disposable earnings.

Total or Absolute Exemptions for:
  • Specific partnership benefits.
  • Wedding rings.
  • Wedding bands including 1/2 carat of diamond or less.
  • Fireman's pension benefits.
  • Proceeds of annuity contracts.
  • Stipulated premium insurance benefits.
  • Fraternity benefits society benefits.
  • Worker's compensation benefits.
  • Disability Insurance Benefits.
  • Unemployment compensation benefits.
  • Mutual assessment life insurance benefits.
  • Group life insurance proceeds.
  • Policemen's pension retirement benefits.
  • State police retirement benefits.
  • Teacher's retirement benefits.
  • Assets held in and payments receivable from IRC-qualified pension, profit-sharing, or similar retirement plans or contracts including self employed retirement plan.
  • Proceeds Payable to another in the event of Life insurance.
  • Surrender Money of Life Insurance Policies.
  • Proceeds of Annuity Contracts.
  • Disability Insurance Benefits.
  • Health Aids Approved by due Authorities.
  • Workmen's & unemployment compensation benefits.
  • Fraternal & Society Benefits.
  • Specific Partnership Property Interest.
  • Police & Fireman's Retirement Benefits.
  • Teacher's and Public Service Employee's Retirement Benefits.
  • Veterans & Old Age Assistance Benefits.
  • Retired Public Employee's Health Insurance and Deferred Compensation Benefits.
  • Hazardous occupation damages.

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