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.

Payment Plan Math in Arkansas

In Arkansas, a payment plan under Ark. Code Ann. § 4-57-105 may not carry an interest rate exceeding 17% per year. This statute governs the maximum allowable interest on deferred payment agreements, meaning any creditor offering a payment plan must ensure the annual interest rate does not surpass that cap. The rule applies uniformly to covered payment arrangements, and the official statute sets out the specific conditions under which the limit operates. A worked example below demonstrates how the 17% figure applies in a typical calculation. For an estimate tailored to your own payment plan terms, use the calculator to input your specific figures and review the result.

Governing authority

In Arkansas, the payment plan math rule is set by Ark. Code Ann. § 4-57-105. The verified packet cites Ark. Code Ann. § 4-57-105 (https://law.justia.com/codes/arkansas/2016/title-4/subtitle-1/chapter-57/subchapter-1/section-4-57-105/).

Arkansas payment plan math: the verified value is 17% under Ark. Code Ann. § 4-57-105. The verified packet cites Ark. Code Ann. § 4-57-105 (https://law.justia.com/codes/arkansas/2016/title-4/subtitle-1/chapter-57/subchapter-1/section-4-57-105/).

Estimate your own result: every situation has exceptions that can change the outcome. Use the payment plan math 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.