Little Rock, 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 Little Rock 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.
North Little Rock Office:
5515 JFK Boulevard, North Little Rock, AR 72116
Contact us today to schedule a free consultation about your case at our North Little Rock office, which is located at 5515 JFK Boulevard, North Little Rock. 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.
Little Rock, AR– The capital of Arkansas, Little Rock is the state’s largest municipality as well. With nearly 200,000 people, Little Rock’s mission is to ensure the city is safe, secure and prospering for all those who live there.
Little Rock 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.
University of Arkansas School Of Law– The University of Arkansas School of Law is ranked among the top 10 “Values in Legal Education” and is among the top 42 public law schools, according to U.S. News and World Report. Students get to live in one of the nation’s “Best College Towns” before joining an international alumni network.
Pulaski County Judge – As chief executive officer of the county government, Judge Hyde has many responsibilities that fall under his scope of work. His goal for Pulaski County is to help create and sustain a stable county structure that is relationship driven, provides exceptional services and incorporates the latest technology.
What to Do When You Can’t Pay Your Bills Anymore
Several simple strategies can help you manage expenses and cash flow when you can’t pay your bills anymore.
Almost everyone has money problems at some point in their lives. Usually these problems are temporary, but sometimes the situation stretches into the long term. People who find themselves chronically behind on bills often find themselves asking: What do you do when you can’t pay your bills? Our strategy can help people with cash flow issues get back on their feet—and stay there.
PAY YOUR VITAL BILLS FIRST
Any service that is essential for living your life—food, shelter, heat, electricity, and transportation—is considered vital. For many, phone service and child care also count as vital. For our purposes, other expenses (medical bills, credit card debt, etc.), are considered non-essential.
First, add up all your vital bills. If the total is affordable, your position is better than you might initially have thought. However, if the vital bills are out of reach, some big moves may be required—literally. Perhaps you will need to relocate to a smaller residence. Still, if keeping up with your mortgage is a persistent issue, keep in mind that the foreclosure process can take months. In other words, you may not have to move quickly.
You may also qualify for discounts on your utilities, for food bank assistance, or food stamps. Significant amounts of money can be freed up by reducing your food budget.
DECIDE WHICH PAYMENTS TO DELAY
Once your vital bills are under control, start looking at the types of debt you still have. Some bills can be avoided for a certain amount of time in Arkansas and Oklahoma, although skipped payments will eventually lower your credit score. Nonetheless, credit damage is seldom permanent. First, minimize the more serious risks: auto repossession and foreclosure.
Ignoring a credit card payment typically impacts only your credit rating. Ignoring a car payment, however, can result in repossession. Failure to make federal student loan payments or annual taxes can also carry real-world penalties such as garnished wages. Keep in mind that reduced income is the last thing you want at this point. Nerd Wallet has put together a useful table that illustrates how long you can go without paying a bill before “real trouble” starts.
CONSULT A BANKRUPTCY ATTORNEY
If shuffling and delaying payments does not significantly improve your situation, you may need to consider a more drastic approach.
There are several reasons to file bankruptcy, most of which are based on the simple fact that incoming funds cannot cover outgoing expenses. Although bankruptcy is terrifying to most people, in fact it can help you start over on solid ground. Before taking this route, though, it may be a good idea to consider alternatives to bankruptcy.
If you have exhausted your other options, sitting down with a bankruptcy attorney is the best solution. He or she will be able to assess your situation and provide valuable advice. Your attorney will be ready and able to help if you decide to proceed.
Please contact the firm of Nolan Caddell Reynolds to consult a bankruptcy attorney in Arkansas or Oklahoma. Our associates, who also specialize in personal injury, Social Security, and disability, can be reached at (800) 709-5297.