Chicago Bankruptcy Attorney

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Federal bankruptcy exemptions are not available in Illinois.

Illinois Homestead Exemption
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

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

Automobiles
$2,400 

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

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





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