In order to obtain copies of bankruptcy documents, you must have a bankruptcy case number. Bankruptcy case numbers can be obtained toll free through the Court’s automated Voice Case Information System (VCIS) at (866) 222-8029 or from a public access terminal in any Bankruptcy Court divisional office.

What does it mean when it says bankruptcy discharged?

A bankruptcy discharge releases the debtor from personal liability for certain specified types of debts. In other words, the debtor is no longer legally required to pay any debts that are discharged.

What is Chapter 7 bankruptcy in Arkansas?

Chapter 7 bankruptcy is a liquidation where the trustee collects all of your assets and sells any assets which are not exempt. (see Arkansas Exemptions) The trustee sells the assets and pays you, the debtor, any amount exempted.

What happens when you file bankruptcy in Arkansas?

(see Arkansas Court Directory) Filing bankruptcy immediately stops all of your creditors from seeking to collect debts from you, at least until your debts are sorted out according to the law. 2. Prevent repossession of a car or other property, or force the creditor to return property even after it has been repossessed.

How to file a Chapter 7 bankruptcy in Arkansas?

Under the 2005 Bankruptcy Act your income and expenses will be analyzed to determine if you qualify to file a Chapter 7 or if you must file Chapter 13. To apply the means test, the courts will look at the your average income for the 6 months prior to filing and compare it to the median income for Arkansas.

What is the means test for bankruptcy in Arkansas?

To apply the means test, the courts will look at the your average income for the 6 months prior to filing and compare it to the median income for Arkansas. If the income is below the median, then you may choose Chapter 7.

What happens when a company files for Chapter 7 bankruptcy?

When a corporate business entity or partnership files for Chapter 7 bankruptcy, the business shuts down. The court will liquidate (sell) virtually all of the company’s assets. Creditors of the debtor will file claims with the court, and the court will distribute the proceeds to the creditors.

What does the Bankruptcy Code say about single asset real estate?

The Bankruptcy Code provides circumstances under which creditors of a single asset real estate debtor may obtain relief from the automatic stay which are not available to creditors in ordinary bankruptcy cases. 11 U.S.C. § 362 (d).