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Illinois Bankruptcy Info

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Illinois Bankruptcy Information

Benton  .  Chicago  .  Danville  .  East Saint Louis  .  Peoria  .  Rockford  .  Springfield  . 

Illinois Median Income Standards

 

Illinois Bankruptcy Exemptions

Illinois Homestead

Real or personal property including a farm, lot, & buildings, condo, co-op, or mobile home to $15,000 (husband and wife may double); sale proceeds exempt for 1 year

Vehicle

$2,400

Wages

Minimum 85% of earned but unpaid weekly wages or 45 times the federal minimum hourly wage; bankruptcy judge may authorize more for low-income debtors. However, several recent cases have held that wages are not exempt in Illinois.

Personal property & Tools of Trade

See Wild Card
Bible, family pictures, schoolbooks, & clothing
Health aids
Implements, books, & tools of trade to $1,500

WildCard

$4,000 of any personal property (does not include wages)

More info About __ Bankrutpcy Exemptions including citations.

Illinois Bankruptcy Courts

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