On this page you can find all of the exemptions for Arkansas. Exemptions are the property that you can keep when you file bankruptcy.
CATEGORY
PROPERTY
AMOUNT
STATUTE
Homestead
Homestead of deceased homesteader leaving widow or minor children
100% of value of homestead plus rents and profits there from for life of widow or children during minority.
Ark. Const. Art. 9, § 6
Homestead
Homestead of resident who is married or head of family (Homestead must be owned and occupied as residence by debtor; except purchase money liens)
$2,500 or 80 to 160 acres of rural land or 1/4 to 1 acre of urban land
Ark. Const. Art. 9, §§ 3, 4, 5 ACA § 16-66-210
Motor Vehicle
One motor vehicle
$1,200
Ark. Code. Ann. § 16-66-218(a)(2)*
Wild Card
Personal property of resident debtor who is married or head of family
$500
Ark. Const. Art. 9, § 2
Wild Card
Personal property of unmarried resident debtor who is not head of family
$200
Ark. Const. Art. 9, § 1 ACA § 16-66-218(b)(1)
Wages / Wage Garnishment
Net earnings for 60 days
$25 per week (may include excess earnings in personal property exemption)
Ark. Code. Ann. § 16-66-208(b)(1)
Insurance
Group life insurance proceeds
100%
Ark. Code. Ann. § 23-79-132
Insurance
Mutual assessment life insurance benefits
$1,000
Ark. Code. Ann. § 23-72-114
Insurance
Stipulated premium insurance benefits
100%
Ark. Code. Ann. § 23-71-112
Insurance
Disability insurance benefits
100%
Ark. Code. Ann. § 23-79-133
Insurance
Proceeds of annuity contracts
100%
Ark. Code. Ann. § 23-79-134
Insurance
Proceeds of life, accident, or disability insurance policies & cash surrender up to $200 (single) and $500 (married)
100% (to the extent permitted by the Arkansas constitution)
Ark. Code. Ann. § 16-66-209
Personal Property
Family burial grounds
100% (5 acre limit)
Ark. Code. Ann. § 16-66-207
Personal Property
Wearing apparel of debtor and family
100%
Ark. Const. Art. 9, §§ 1 & 2
Personal Property
Wedding bands, including diamonds of 1/2 carat or less
100%
Ark. Code. Ann. § 16-66-218(a)(3)
Personal Property
The debtor's aggregate interest in real or personal property used by the debtor or a dependent of the debtor as a residence or as a burial plot
$800 for unmarried debtor $1,250 for married debtor
Ark. Code. Ann. § 16-66-218(a)(1)
Personal Property
Wedding rings
100%
Ark. Code. Ann. § 16-66-219
Pensions / Retirement Accounts
Firemen's relief & pension benefits
100%
Ark. Code. Ann. § 24-11-814
Pensions / Retirement Accounts
State police retirement benefits
100%
Ark. Code. Ann. § 24-6-223
Pensions / Retirement Accounts
Teachers' retirement benefits
100%
Ark. Code. Ann. § 24-7-715
Pensions / Retirement Accounts
Assets held in and payments receivable from IRC-qualified pension, profit- sharing, or similar retirement plans or contracts including self-employed retirement plans, regular and Roth IRAs
100% of IRC qualified contributions + 100% of amounts in Roth IRAs
Ark. Code. Ann. § 16-66-220
Pensions / Retirement Accounts
Contributions to Individual Retirement Account made more than one year prior to filing of bankruptcy case husband and wife combined)
$20,000
(limit applies to individual debtor and to husband and wife combined)
Ark. Code. Ann. § 16-66-218(b)(16)
Pensions / Retirement Accounts
Local police & fire retirement benefits
100%
Ark. Code. Ann. § 24-10-616
Pensions / Retirement Accounts
Policemen's pension & relief benefits
100%
Ark. Code. Ann. § 24-11-417
Tools of the Trade
Implements, professional books, or tools of trade of debtor or a dependent of the debtor
$750
Ark. Code. Ann. § 16-66-218(a)(4)*
Public Benefits
Worker's compensation benefits
100%
Ark. Code. Ann. § 11-9-110
Public Benefits
Unemployment compensation benefits
100% (support claims excepted)
Ark. Code. Ann. § 11-10-109
Miscellaneous
Specific partnership property
100%
Ark. Code. Ann. § 4-46-307(d)
If you want to learn more about filing bankruptcy in Arkansas please visit our FAQ Page or for more information about Arkansas you can visit the Arkansas section.
