Illinois Bankruptcy Lawyers
Get help filing bankruptcy in Illinois
If you're struggling with out of control debt, get help from bankruptcy lawyers in Illinois. Find out how filing may help you clear debt related to:
- Credit cards
- Home mortgage
- Car loan
- Medical bills
- Personal loans
Illinois bankruptcy laws have several options that provide may just the right type of property protection and debt relief.
Find out how filing may help you during a free case evaluation with a local bankruptcy lawyer. Complete the free form on this page or call, toll free, 877-833-2410, and we'll connect you right away.
You Bankruptcy Chapter Options in Illinois
There are two main types of personal bankruptcy in Illinois: Chapter 7 and Chapter 13. Both can be used to fully eliminate several types of debt, but only one may fit your needs.
Also, both may help you get your life back on track with the automatic stay. This court order may kick in after you file either chapter and should instantly put a stop to all types of collection, including:
- Wage garnishment
- Harassing phone calls and letters
Even if foreclosure or lawsuits have already started, the automatic stay is designed to stop them dead in their tracks. After that, each chapter will work in slightly different way.
Chapter 7 bankruptcy works quickly, often only needing a few months to completely resolve your debts. This is typically a good option if you don't have much regular income, as you won't be required to make monthly payments. It may be used to clear debt stemming from credit cards, medical bills, utility bills, personal loans and payday loans.
In addition to clearing these debts, the Chapter 7 exemptions in Illinois outline the types of property that are fully protected from a forced sale. In most Chapter 7 cases in Illinois there is no property sale of any kind.
While you'll want to discuss these protections with your lawyer to ensure that they will apply to you, the exemptions in Illinois include:
- Homestead: Up to $15,000 for residential property
- 85 percent of weekly wages
- $2,400 for a vehicle
- 100 percent of necessary clothes, school books, Bibles and family pictures
- $1,500 in work books, tools and implements
- Up to $4,000 for any other personal property
If you need stronger protections then Chapter 13 bankruptcy may be a better fit. You'll need enough regular income to make payments during a court-approved schedule, but you may include debt related to your home mortgage and car loans in a Chapter 13, which you typically can't do in Chapter 7.
So which is right for you? Make sure you clearly understand the laws before you choose. To better understand how the Illinois bankruptcy laws may affect you, speak with a local bankruptcy attorney.
Get Answers With an Illinois Bankruptcy Lawyer Today
Bankruptcy can be a life changing experience, one that may help you get back to living your life. But before you take action, make sure you fully understand how it works, and how it will affect you.
During a free case evaluation with a local bankruptcy lawyer, you can ask questions about your options. Learn how the bankruptcy laws apply to your case, and see all the steps involved in finally putting your debts behind you.
Start today. Complete the free form on this page or call, toll free, 877-833-2410, and we'll connect you with a local bankruptcy lawyer right away.
Laws may have changed since our last update. For the latest information on your state's bankruptcy laws, speak to a local bankruptcy lawyer.