According to recent statistics, the average American held more than $90,000 in consumer debt in 2018. The average balances of most major types of debt, all except for personal loans and home equity lines of credit, have grown substantially over the past decade....
Chapter 13 bankruptcy for business owners
Entrepreneurs in Arkansas don't like to think about the possibility of bankruptcy, but the truth is that everyone in the business world should have some understanding of how bankruptcy works. It's always preferable to have a plan for the worst, particularly during a...
Debts may be paid outside of a Chapter 13 plan
By filing for Chapter 13 bankruptcy, an Arkansas judge will put an automatic stay of creditor collection activity in place. Over a period of three or five years, you will make payments to your creditors in accordance to a plan that you create. However, there is a...
Budgeting and payments to the bankruptcy trustee
Filing for a Chapter 13 bankruptcy means that you are trying to get back on your feet financially. In order to have the case discharged, you have to make payments to the bankruptcy court. This means that you are likely going to have to cut your expenses down to the...
