What Creditors Can't Take in Arkansas
Money, home and vehicle exemptions that protect your property from creditors in Arkansas.
Short answer: No separate bank account exemption. Money in an account can be claimed under the constitutional personal property exemption: $500 for a married person or head of a family, $200 for an unmarried person who is not head of a family (plus wearing apparel). Ark. Const. art. 9, §§ 1-2 (as listed in Ark. Code Ann. § 16-66-218(b)(1)-(2))
| Money protected in a bank account | No separate bank account exemption. Money in an account can be claimed under the constitutional personal property exemption: $500 for a married person or head of a family, $200 for an unmarried person who is not head of a family (plus wearing apparel). Exempt federal benefits keep their protection under federal law. Public mirror (FindLaw). Constitution text not separately read. |
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| Homestead exemption | Rural homestead: up to 160 acres with improvements, up to $2,500 in value, but never less than 80 acres regardless of value. Urban homestead: up to 1 acre with improvements, up to $2,500 in value, but never less than one-quarter acre regardless of value. A widow's or surviving dependent children's homestead is also protected. Public mirror (FindLaw). In effect, the minimum acreage (80 acres rural, one-quarter acre urban) is protected regardless of value. |
| Vehicle exemption | In bankruptcy, a debtor may exempt up to $1,200 in one motor vehicle. Outside bankruptcy, a vehicle can be claimed only within the general personal property exemption ($500 married or head of family; $200 otherwise). Public mirror (FindLaw). The $1,200 vehicle exemption is in the section titled 'State bankruptcy proceedings.' |
| Bankruptcy exemptions | Arkansas residents may choose either the Arkansas exemptions (constitution and state law, plus the extra bankruptcy-only exemptions in § 16-66-218) or the federal bankruptcy exemptions. Public mirror (FindLaw). Source: Ark. Code Ann. § 16-66-217 |
Where to get help in Arkansas
- Arkansas Attorney General, Public Protection Department (collection agency licensing: Arkansas State Board of Collection Agencies)
- File a complaint or claim
More Arkansas debt & collections
- Statute of Limitations on Debt in Arkansas
- Wage Garnishment in Arkansas
- How to Respond to a Debt Collection Lawsuit in Arkansas
- All Arkansas debt & collections rules
FAQ
How much money in a bank account is protected from creditors in Arkansas?
No separate bank account exemption. Money in an account can be claimed under the constitutional personal property exemption: $500 for a married person or head of a family, $200 for an unmarried person who is not head of a family (plus wearing apparel). Exempt federal benefits keep their protection under federal law.
What is the homestead exemption in Arkansas?
Rural homestead: up to 160 acres with improvements, up to $2,500 in value, but never less than 80 acres regardless of value. Urban homestead: up to 1 acre with improvements, up to $2,500 in value, but never less than one-quarter acre regardless of value. A widow's or surviving dependent children's homestead is also protected.
Can a creditor take my car in Arkansas?
In bankruptcy, a debtor may exempt up to $1,200 in one motor vehicle. Outside bankruptcy, a vehicle can be claimed only within the general personal property exemption ($500 married or head of family; $200 otherwise).
Which bankruptcy exemptions can I use in Arkansas?
Arkansas residents may choose either the Arkansas exemptions (constitution and state law, plus the extra bankruptcy-only exemptions in § 16-66-218) or the federal bankruptcy exemptions.
General legal information, not legal advice. Laws change and local rules can differ; check the linked official source or talk to a lawyer about your situation.