If you live in Arkansas, you may benefit from learning more about how medical debt is the leading cause of bankruptcy. Professionals say this is a uniquely American problem largely caused by a broken health care system. As of April 2021, approximately 21 million...
What assets could creditors take during bankruptcy?
Excessive debt could leave Arkansas residents struggling financially. When the debt far exceeds the ability to repay the obligations, filing for bankruptcy could provide a solution. With bankruptcy, collection actions cease, and a debtor could work on commencing a...
How medical debt is handled in bankruptcy
Bankruptcy provides some debt relief for consumers in Rogers, Arkansas, who see no other option. Stats report two-thirds of bankruptcy cases are filed because of medical debt. However, some consumers may wonder if they could file for just medical debt. Medical debts...
What to know about the Chapter 7 means test
Consumers in Arkansas who see no way of paying their debts may file Chapter 7 bankruptcy, which allows the debtor to remove certain unsecured debts. However, debtors must sell some personal non-exempt assets under Chapter 7 to pay creditors. While most debtors file...
