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Illinois Bankruptcy Laws from IllinoisBankruptcy.com

Illinois bankruptcy law provides information on exemptions, local courts, and general information on the bankruptcy laws.

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Illinois Bankruptcy Laws from IllinoisBankruptcy.com | illinoisbankruptcy.com Reviews
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Illinois bankruptcy law provides information on exemptions, local courts, and general information on the bankruptcy laws.
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Illinois Bankruptcy Laws from IllinoisBankruptcy.com | illinoisbankruptcy.com Reviews

https://illinoisbankruptcy.com

Illinois bankruptcy law provides information on exemptions, local courts, and general information on the bankruptcy laws.

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illinoisbankruptcy.com illinoisbankruptcy.com
1

Illinois Chapter 7 bankruptcy information

http://www.illinoisbankruptcy.com/chapter7.html

Illinois Chapter 7 bankruptcy information. In a Chapter 7 bankruptcy you wipe out your debts and get a “Fresh Start”. Chapter 7 bankruptcy is a liquidation where the trustee collects all of your assets and sells any assets which are not exempt. (see Illinois Exemptions. The trustee sells the assets and pays you, the debtor, any amount exempted. The net proceeds of the liquidation are then distributed to your creditors with a commission taken by the trustee overseeing the distribution. By clicking submit ...

2

Illinois Bankruptcy Laws - Chapter 7 or Chapter 13 bankruptcy?

http://www.illinoisbankruptcy.com/7v13.html

Illinois Chapter 7 Bankruptcy or Illinois Chapter 13 Bankruptcy? That you want to keep, a chapter 13 filing may be a better option. Also, people file Chapter 13 bankruptcy because they have too much income to file a Chapter 7. Bankruptcy or have the kind of debt that is non- dischargeable in a Chapter 7 (e.g. certain taxes). However, for the vast majority of Illinois residents who simply want to eliminate their heavy debt burden without paying any of it back, Chapter 7 provides the most attractive choice.

3

Bankruptcy in Illinois - Illinois exemptions

http://www.illinoisbankruptcy.com/exemptions.html

An exemption limit applies to any equity you have in the property. Equity is the difference between the value of the property and what is owed on the property. For example, a car valued at $5000 with a loan of $4500 has an equity value of only $500. Bankruptcy law allows married couples filing jointly to each claim a full set of exemptions, unless otherwise noted. To keep non-exempt property, a debtor must generally pay the trustee the value of the non-exempt property. Husband and wife may double. Life i...

4

Filing bankruptcy in Illinois - what is the process

http://www.illinoisbankruptcy.com/process.html

Illinois Bankruptcy Process – How to File Bankruptcy in Illinois. 2005 Bankruptcy Act Credit Counseling. The 2005 Bankruptcy Act requires all individual debtors who file bankruptcy on or after October 17, 2005, to undergo credit counseling within six months before filing for bankruptcy relief and to complete a financial management instructional course after filing bankruptcy. 2005 Bankruptcy Act Means Test. To begin the bankruptcy process you must itemize your current income sources; major financial tran...

5

Free Bankruptcy Consultation with an Attorney

http://www.illinoisbankruptcy.com/bankruptcy-attorney.html

Free Bankruptcy Evaluation - Step 1 of 5. Why are you considering bankruptcy? Select all that apply). Free Bankruptcy Evaluation - Step 2 of 5. Which bills do you have? Select all that apply). Estimated Total Monthly Expenses:. Free Bankruptcy Evaluation - Step 3 of 5. Do you own real estate? If Yes, are you behind in these payments? Do you own an automobile? If Yes, are you behind in these payments? Do you have any additional assets worth more than $1,000? If Yes, please describe:. Select all that apply).

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