Bankruptcy by State
Bankruptcy in Arkansas
How Arkansas's bankruptcy exemptions, Chapter 7 income limits, and filing volume compare to the rest of the country.
Homestead exemption
$2,500 (within urban ¼-acre or rural 80-acre floor — see Ark. Const. art. 9 §§ 4-5)
#34 of 51
Vehicle exemption
$1,200
#22 of 51
Median income (1 person)
$58,421
Chapter 7 means-test threshold
Annual filings
7,004
Year 2025
Arkansas vs. national medians
National medians are calculated across all 51 states plus the District of Columbia. Ranks run from #1 (highest) to #51 (lowest). Where a state publishes a range or a conditional amount, the exemption is shown in full and ranked by its guaranteed minimum.
| Metric | Arkansas | National median | Rank |
|---|---|---|---|
| Homestead exemption | $2,500 (within urban ¼-acre or rural 80-acre floor — see Ark. Const. art. 9 §§ 4-5) | $90,000 | #34 of 51 |
| Motor vehicle exemption | $1,200 | $7,250 | #22 of 51 |
| Median income (1-person household) | $58,421 | $71,745 | #50 of 51 |
| Median income (4-person household) | $97,054 | $126,058 | #50 of 51 |
| Annual bankruptcy filings | 7,004 | 8,707 | #30 of 51 |