Jonesboro, AR Bankruptcy Attorneys
LEADING ARKANSAS & OKLAHOMA BANKRUPTCY ATTORNEYS
Are you drowning in debt?
Do you avoid opening your mail?
Do you ignore calls from an unknown caller out of fear it will be a bill collector?
If you answered yes to these questions, bankruptcy may be a solution for you. Let our experienced bankruptcy attorneys develop a reorganization plan to help get you back on track.
Generally, there are two main types of bankruptcy applicable to individuals. Which one will work the best for you depends on your overall financial situation and the type of debt you have. Bankruptcy law is complicated. Don’t go through it alone.
General Bankruptcy Law
Generally, there are two main types of bankruptcy applicable to individuals. Which one will work the best for you depends on your overall financial situation and the type of debt you have.
- Chapter 7 Bankruptcy
- Chapter 13 Bankruptcy
Contact us Today for Help, You’ll be Glad You Did.
Caddell Reynolds has been serving Arkansas & Oklahoma clients for many years. Our experienced Jonesboro bankruptcy attorneys are dedicated to finding solutions to problems for our clients. We want you to gain a fresh start in life, free of overwhelming debt. Contact us at one of our offices near you for a free consultation.
3000 Browns Ln, Jonesboro, AR 72401
Contact us today to schedule a free consultation about your case at our Jonesboro office, which is located at 3000 North Market Avenue, Suite A. We can also meet at a location that is more convenient for you.
To schedule a free consultation with one of our attorneys, fill out the contact form at the bottom of this page, or call Caddell Reynolds Injury Law at 800-671-4100.
Jonesboro is a city in Craighead County, Arkansas, with a population of 71,551. It is home to the Arkansas State Red Wolves of Arkansas State University, and the New York Institute of Technology College of Osteopathic Medicine’s A-State campus. Jonesboro is the fifth most populous city in the state and is the principal city in the Jonesboro Metropolitan Statistical area.
Jonesboro Legal Resources:
Arkansas Bar Association– The ArkBar represents its members’ interests, provides money-saving services, promotes the profession, and alerts members to the issues created by proposed legislation that affect their law practice.
Craighead County Clerk’s Office – The official bookkeeper for Craighead County serves as clerk for the county, quorum, and probate courts. The County Clerk, additionally, is the official voter registrar and issues marriage licenses.
Jonesboro Police Department – The City of Jonesboro’s Police Department strives to ensure that all citizens are served in a professional, ethical, and equitable manner.
The Pros and Cons of Filing for Bankruptcy
Filing bankruptcy can mean a fresh start, though it is certainly not the right choice for everyone facing financial difficulties. If you are considering filing for bankruptcy, it is important to learn as much as you can about the pros and cons that may affect your unique situation.
A PRIMER ON BANKRUPTCY
Many people choose bankruptcy because they do not realize they have other options, or they have already exhausted the alternatives. The best way to determine whether filing for bankruptcy is right for you is to consult an Arkansas bankruptcy attorney who can answer your questions and provide professional advice. Then, you can carefully weigh the pros and cons of filing for bankruptcy and make a realistic and informed decision.
THE PROS OF A BANKRUPTCY FILING
The main advantage to filing for bankruptcy in Arkansas is that it is possible to have a clean slate, and essentially restart your financial goals. If you are unable to pay off outstanding debt, it may slow down progress toward those goals. However, removing that debt can change things drastically. While bankruptcy does not always remove all debt, it does address most types of debt. A Chapter 7 bankruptcy filing deals with debt removal, while Chapter 13 is based on a reconfiguration of how debt is repaid. Both options can be good choices, though Chapter 7 is only available to those who qualify.
For married couples considering filing for bankruptcy, one advantage is that you can both individually possess less debt. You can also avoid a joint filing if one spouse can prove they are the only one with excessive debt in their name. There are some specific details that must be addressed when couples file for bankruptcy. For example, when only one spouse decides to file for bankruptcy, it can still affect the other spouse. Working with a bankruptcy attorney will ensure all legal implications are understood and followed properly. It is crucial to have a good legal advocate to reduce the chance of an incorrect filing.
THE CONS OF FILING FOR BANKRUPTCY
Of course, there are several potential disadvantages to consider before you decide to file for bankruptcy, including:
- Damage to your credit score
- Difficulty obtaining approval for credit cards
- Difficulty buying a car or home
- Legal and court fees
- Potential loss of property
It is important to remember that these issues are temporary and can improve with time. As your bankruptcy filing ages, your credit score can begin to rise. Over time, people who file for bankruptcy can buy homes and cars, as well as qualify for credit cards with low rates and appropriate credit limits. Being patient and working to rebuild your credit after going through bankruptcy is essential for reaching your financial goals.
Filing for bankruptcy can have a positive impact on your life. If you are considering filing for bankruptcy, contact an Arkansas bankruptcy attorney at Nolan Caddell Reynolds today by calling 866-242-0452. An attorney can help determine whether bankruptcy is right for you, which type you should file, and what types of challenges you may face after filing.