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ABOUT CHAPTER 7
HOW CHAPTER 7 WORKS
THE CHAPTER 7 DISCHARGE
ABOUT CHAPTER 13
HOW CHAPTER 13 WORKS
THE CHAPTER 13 DISCHARGE
STATE EXEMPTIONS
COURT GUIDE
ROLE OF THE TRUSTEE
BANKRUPTCY TERMS
BANKRUPTCY & TAX LIABILITY
FREQUENTLY ASKED QUESTIONS

 
Illinois bankruptcy exemptions   IL Bankruptcy Exemptions

FEDERAL BANKRUPTCY EXEMPTIONS ARE NOT AVAILABLE
All law references are to Illinois Bankruptcy Code unless noted.

ASSET

EXEMPTION

LAW PROVISION

HOMESTEAD

 

 

Real or personal property including a farm, lot and building, condo, co-op or mobile home to $15,000; sale proceeds exempt 1 year from sale

735-5/12-901, 735-5/12-906

Spouse or child of deceased owner may claim homestead exemption

735-5/12-902

Husband and wife may double

First National Bank v Mohr

515 N.E. 2d 1356

(App. Ct. Ill. 1998)

PERSONAL PROPERTY

 

 

 

 

 

 

Bible, family pictures, schoolbooks and needed clothing

735-5/12-1001(a)

Health aids

735-5/12-1001(e)

Motor vehicle to $2,400

735-5/121001(c)

Personal injury recoveries to $15,000

735-5/12-1001(g)(4)

Proceeds of sold exempt property

735-5/12-1001

Title certificate for boat over 12 feet

652-45/3A-7

Wrongful death recoveries needed for support

735-5/12-1001(h)(2)

INSURANCE

 

 

 

 

 

 

Fraternal benefit society benefits

215-5/299.1a

Health or disability benefits

735-5/12-1001(g)(3)

Homeowners’ proceeds if home destroyed, to $7,500

735-5/12-907

Life insurance, annuity proceeds or cash value if beneficiary is insured’s child, parent, spouse or other dependent

215-5/238

Life insurance policy if beneficiary is insured’s spouse or chil

735-5/12-1001(f)

Life insurance proceeds if clause prohibits from being used to pay beneficiary’s creditors

215-5/238

Life insurance proceeds needed for support

735-5/12-1001(f), (g)(3)

MISCELLANEOUS

 

Alimony, child support needed for support

735-5/12-1001(g)(4)

Property of business partnership

805-205/25

PENSIONS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Civil service employees

40-5/11-223

County employees

40-5/9-228

Disabled firefighters; widows and children fo firefighters

40-5/22-230

ERISA-qualified benefits

735-5/12-1006

Firefighters

40-5/4-135, 40-5/6-213

General assembly members

40-5/2-154

House of correction employees

40-5/19-117

Judges

40-5/18-161

Municipal employees

40-5/7-217(a), 40-5/8-224

Park employees

40-5/12-190

Police officers

40-5/3-144.1, 40-5/5-218

Public employees

735-5/12-1006

Public library employees

40-5/19-218

Sanitation district employees

40-5/13-808

State employees

40-5/14-147

State university employees

40-5/15-185

Teachers

40-5/16-190, 40-5/17-151

PUBLIC BENEFITS

 

 

 

 

 

 

 

Aid to aged, blind, disabled, AFDC

305-5/11-3

Crime victims’ compensation

735-5/12-1001(h)(1)

Restitution payments on account of WWII relocation of Aleuts and Japanese Americans

735-5/12-1001(12)(h)(5)

Social security

735-5/12-1001(g)(1)

Unemployment compensation

735-5/12-1001(g)(1), (3)

Veterans’ benefits

735-5/12-1001(g)(2)

Workers’ compensation

820-305/21

Workers’ occupational disease compensation

820-310/21

TOOLS OF TRADE

Implements, books and tools of trade to $1,500

735-5/12-1001(d)

WAGES

Minimum 85% of earned but unpaid wages; bankruptcy judge may authorize more for low-income debtors

740-170/4

WILD CARD

 

$1,500 of any personal property

735-5/12-1001(b)

Includes wages

In re Johnson,

57 B.R. 635 (N.D. ILL 1986)



Illinois bankruptcy courts  Illinois Bankruptcy Courts
See the list below for Bankruptcy Courts by District. Click on the District link to go directly to that Bankruptcy Court's web site.

BANKRUPTCY COURTS NUMBER OF COPIES
Central District

Springfield Division
226 U.S. Courthouse
600 East Monroe Street
Springfield, IL 62701
Telephone: (217) 492-4551

Danville Division
201 North Vermillion, Rm. 130
Danville, IL 61832
Telephone: (217) 431-4820

Peoria Division
100 N.E. Monroe, Rm. 131
Peoria, IL 61832
Telephone: (309) 671-7035

Contact bankruptcy clerk
Northern District
Eastern Division
219 South Dearborn Street, Rm. 710
Chicago, IL 60604
Telephone: (312) 435-5694

Rockford Division
211 South Court St., Rm. 110
Rockford, IL 61101
Telephone: (815) 987-4350

Contact bankruptcy clerk
Southern District
750 Missouri Avenue
East St. Louis, IL 62201
Telephone: (618) 482-9400

Contact bankruptcy clerk

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