DIY Bankruptcy in Arkansas
Bankruptcy protection is available to people with significant debt. Most individuals file Chapter 7 bankruptcy to completely wipe out most debts, or Chapter 13 to pay back some or all of their debts within a reasonable time frame. In Arkansas, you can choose to file bankruptcy pro se, without an attorney. Filing without a lawyer requires full knowledge of your finances as well as basic knowledge of the bankruptcy procedures in your area in Arkansas.
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Instructions
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Complete the required pre-filing credit counseling course. Within 180 days, you will receive a certificate of completion and can proceed with filing your bankruptcy case. Locate court-approved courses by contacting the Arkansas bankruptcy court in your district or by going to the website.
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Collect documentation pertinent to your case. Include income documentation such as tax forms, pay stubs and statements from investments, pensions, social security and unemployment payments. Compile information about your debts, such as creditor names, account numbers and amounts owed. List your monthly household expenses including rent or house payments, utility payments, food and clothing.
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Download the Arkansas bankruptcy petition paperwork from your district's bankruptcy court website or go to the courthouse and get the paperwork in person.
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Take the Means Test that comes with the petition documents to figure out which bankruptcy chapter you qualify for. Determine if your income is above or below the median in Arkansas of $33,623 for one person as of October 2009. File Chapter 13 bankruptcy if your income is above the median and you have more than $100 each month after necessary household expenses. File Chapter 7 bankruptcy if your income is below the median.
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Complete the rest of the bankrutpcy pettion, Provide complete information on all debts, expenses and income because failing to do so may cause a delay in your case or possible dismissal for fraud.
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File the petition with the court. Include your credit counseling certificate. The court clerk will assign a date for the 341 meeting, also called the Meeting of Creditors, and designate a trustee to direct your case.
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Compose a three- to five-year payment plan if you are filing Chapter 13 bankruptcy. Consult with the trustee to create a plan that pays off as much debt as possible while leaving you with enough money each month to take care of living expenses. File the completed plan with the court clerk.
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Attend the 341 meeting to answer any questions from the trustee or creditors about your financial situation. Answer fully and honestly because your answers play a large part in determining whether you will be able to discharge your debts or not.
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Start making payments if you have filed Chapter 13 bankruptcy. Wait approximately six weeks for your official discharge if you filed Chapter 7 bankruptcy.
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References
- U.S. Bankruptcy Court for the Eastern and Western Districts of Arkansas: Chapter 7
- U.S. Bankruptcy Court for the Eastern and Western Districts of Arkansas: Chapter 13
- Lawyers.com: Bankruptcy in Arkansas
- U.S. Courts: Filing for Bankruptcy Without an Attorney
- U.S. Bankruptcy Court for the Eastern and Western Districts of Arkansas: Filing Fee Schedule
