This page provides general legal information and calculation tools, not legal advice. DocketMath is not a law firm and does not provide legal representation, and using this site does not create an attorney-client relationship. Laws change and exceptions apply, so deadlines and amounts specific to your situation should be confirmed with a licensed attorney in your jurisdiction.

Bankruptcy Exemption in Arkansas

Arkansas allows debtors in bankruptcy to exempt up to $214,000 in equity in their homestead under the state’s constitutional provision. This figure applies to a homestead of any size within a city, town, or village, or up to a specified acreage outside municipal limits, as set by Ark. Const. Art. 9 §§ 3-5. Debtors may also elect the federal exemptions under 11 U.S.C. § 522, but Arkansas law restricts that choice to the state’s own exemption scheme unless the debtor opts out. The exact calculation of available equity depends on the property’s value and any liens. The worked example below demonstrates how the exemption applies. Use the DocketMath calculator to estimate your homestead exemption based on your specific circumstances.

Governing authority

In Arkansas, the bankruptcy exemption rule is set by Ark. Const. Art. 9 §§ 3-5 (homestead) + Ark. Code § 16-66-217 et seq. (federal exemption election + statutory framework). The verified packet cites Ark. Const. Art. 9 §§ 3-5 (homestead) + Ark. Code § 16-66-217 et seq. (federal exemption election + statutory framework) (https://www.law.cornell.edu/uscode/text/11/522).

Arkansas bankruptcy exemption: the verified value is $214,000 under Ark. Const. Art. 9 §§ 3-5 (homestead) + Ark. Code § 16-66-217 et seq. (federal exemption election + statutory framework). The verified packet cites Ark. Const. Art. 9 §§ 3-5 (homestead) + Ark. Code § 16-66-217 et seq. (federal exemption election + statutory framework) (https://www.law.cornell.edu/uscode/text/11/522).

Estimate your own result: every situation has exceptions that can change the outcome. Use the bankruptcy exemption calculator to estimate your specific figure.

This page provides general legal information and calculation tools, not legal advice. DocketMath is not a law firm and does not provide legal representation, and using this site does not create an attorney-client relationship. Laws change and exceptions apply, so deadlines and amounts specific to your situation should be confirmed with a licensed attorney in your jurisdiction.