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Asa King has helped hundreds of Arkansans discharge millions in debt.

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We offer payment plans and free consultations on all bankruptcy services.

What is Bankruptcy?

Bankruptcy is a legal proceeding in which one who cannot pay his or her bills can get a fresh financial start. Bankruptcy is a right provided to you under federal law. ​ Filing bankruptcy immediately stops all of your creditors from calling, harassing, or trying to collect debts from you.

What can Bankruptcy do for me?

Eliminate your obligation to pay most debts

Stop foreclosure on your home and allow you to catch up payments

Prevent repossession of a car or other property

Stop wage garnishment, debt collection, and any creditor action

Prevent termination of your utility services

Allow you to challenge creditors who may be committing fraud

What's the difference between Chapter 7 and Chapter 13?

Chapter 7

Is known as "straight bankruptcy" or "liquidation."  A Chapter 7 bankruptcy lasts a few months, and allows you to discharge most unsecured debts like credit cards, repossessed cars, and medical bills.  Most of the time, you can keep your car or house in a Chapter 7 if you are current on the payments.

Chapter 13

Is a type of "reorganization" that allows you to get current on a mortgage payment or car payment to stop foreclosure or a repossession.  In a Chapter 13 plan, you a small amount to your creditors over time to get "caught up."

Chapter 7 Basics

In a chapter 7 case, you ask the the Court to "wipe out" your debts.  You usually have to give up property that is not "exempt," but most debtors in Arkansas are usually able to exempt out their property.

If you want to keep a home or car and are behind on the mortgage or car note, a chapter 13 case is probably more appropriate for you.  

Secondly, if your income is "too high" (above state median for your family size), you will need to file a chapter 13.

Chapter 13 Basics

In a chapter 13 case, you file a "plan" showing how you will pay off some of your debts over the next 3-5 years.  

A chapter 13 case is special, because it allows you to keep property - like a house or a car - that you might otherwise lose.  

Your chapter 13 payments will be the same as your current car or house note, with a little extra added to catch you up.   

You should consider a chapter 13 if you:

  • Own your home and you're in danger of losing it because of money problems

  • Are behind on debt payments, but can catch up if given time

  • Have valuable property which is not exempt, but you can afford to pay creditors over time.  

How is Virtual Filing Different?

We can generate and file your Arkansas bankruptcy case after a telephone meeting, video conference, and gathering your necessary documents.  

We will review your bankruptcy petition with you in detail before filing, and answer any questions you may have.

During a normal bankruptcy, you don't have to attend Court.  Instead, you have a short meeting with the bankruptcy trustee and any creditors who may choose to attend.  

As of now, these meetings are being conducted over the telephone.  In the event this changes, we will meet at the bankruptcy trustee's office on the date of your meeting.

You're also welcome to visit our office in Trumann, AR at any time during the pendency of your case.

How do I get started?

Fill out the form below, and we'll contact you to schedule your free phone consultation.

We'll call you and discuss getting started.  If you decide to go forward, you will need to take a one-hour online credit counseling class.

We'll begin gathering your documents and building your case.  We'll be with you every step of the way.

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Free Consultation in Trumann

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We offer payment plans and free consultations on all bankruptcy services.

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© 2020 by The Law Office of Asa F. King, PLC

Attorney Asa F. King - Trumann, Arkansas

We are a federal debt relief agency.  We help people file for relief under the bankruptcy code.