Judgments rendered by the courts in the State of Arkansas are generally enforceable for a period of ten (10) years, and may be revived if action by scire facias is taken within the ten (10) years period.   (Ark. C. 16-65-501.)  A judgment may become a lien on the real property of the judgment debtor in the county in which the judgment is rendered, or may become a lien on land in other counties if a certified copy thereof is filed with the clerk of that county.   (Ark. C. 16-65-117.)  Such lien may also be extended by obtaining a court order.  (Ark. C. 16-65-117, 501.)

A writ of execution of the judgment may be issued ten (10) days after entry of judgment.  (Ark. C. 16-66-103.)  All of the non-exempt real or personal property of a judgment debtor is subject to seizure under execution.  (Ark. C. 16-66-201.)   Wages of a judgment debtor may also be garnished but the first $25.00 per week of the net wages of a laborer is absolutely exempt (Ark. C. 16-66-208).  A wage garnishment may continue until the full judgment and costs are paid and satisfied. (Ark. C. 16-110-415).

A judgment by confession is permitted under the laws of the State of Arkansas (Ark. C. 16-65-301 to 16-65-304.)  Such judgment may be entered only upon the consent of the plaintiff and the personal appearance of the defendant.
 

Foreign Judgments:

The State of Arkansas generally adopts the Uniform Enforcement of Foreign Judgments Act.  (Ark. C. 16-66-601 to 16-66-608.)  Any judgment, decree or order of a court of the United States or of any other court is entitled to full faith and credit in the State of  Arkansas.  ( Ark. C. 16-66-601.)

A judgment creditor seeking to enforce a foreign judgment may file with the appropriate court, an authenticated copy of the foreign judgment, and an affidavit showing the name and last known post office address of the judgment debtor and the judgment creditor.   The clerk of the court and the creditor are required to mail a written notice of the filing of the foreign judgment to the judgment debtor at the address given. The notice must include the name and post office address of the judgment creditor and, if the judgment creditor has an attorney in this state, the attorney's name and address.   Lack of mailing notice of filing by the clerk does not affect the enforcement proceedings if proof of mailing by the judgment creditor has been filed. A judgment so filed has the same effect and is subject to the same procedures, defenses, and proceedings for reopening, vacating, or staying as a judgment of a court of the State of Arkansas and may be enforced or satisfied in like manner.  (Ark. C. 16-66-602.)

No execution may issue upon the foreign judgment nor may any other proceeding be taken for its enforcement until the expiration of 10 days from the date the judgment is filed.   (Ark. C. 16-66-603.)

Interest: 

• Legal rate:  6% per annum where no contract rate is specified.  (Ark. Const. Art. 19, Sec. 13.)

  Written Contract: For consumer credit transactions, the maximum interest rate is 5% per annum above the Federal Reserve Discount Rate at the time the contract was made, with an absolute cap of 17% per annum.  For transactions not involving consumers, the maximum rate is 5% per annum above the Federal Reserve Discount Rate at the time the contract was made. (Ark. Const. Art. 9, Sec. 13.)

  Judgment Rate:  10% per annum or such rate as specified under the contract, whichever is greater, and subject to the maximum rate specified under the Ark. Const. Art. 19, Sec. 13.  (Ark. C. 16-65-114.)

Exemption:

In general, a debtor may claim exemption of his homestead and certain personal property from attachment and execution of a judgment, or in a bankruptcy proceeding. The standard exemptions are provided under the Constitution of Arkansas.

The homestead of any resident of the State of Arkansas, who is married or the head of a family, are exempt from any lien of judgment, decree of any court, or to sale under exectuion or other process thereon, except for obligations that are for the purchase money or specific liens against the homestead, laborer's or mechanic's liens for improvement thereof, or for taxes.  If the homestead, which is the residence of the debtor,   is located in any city, town or village,  it is limited to one acre of land with improvements thereon, and shall not exceed in value the sum of $2,500.  If the homestead is located outside any city, town or village, it may not exceed  one hundred and sixty acres of land, with the improvements thereon, and shall not exceed in value the sum of $2,500. (Ark. Const. Art. IX, Sec. 3 & 4; 16-66-210.)

Personal property exemption permitted under the Arkansas Constitution include the wearing apparels of the debtor and his family.  If a debtor is not married, he may select certain personal property, up to the sum of $200, to be exempt from aany process for the collection of a debt founded on a contract.  The exemption amount is increased to $500 if the debtor is married or the head of a family.  (Ark. Const. Art. IX, Sec. 1 & 2.)

Statutes Of Limitations:

An action for the recovery of money or other damages generally must be filed within a statutory period of time or such action may be barred forever. Some of the time limitations relevant to credit and collection matters are as follows: