Illinois Bankruptcy Information
Are you considering filing for Chapter 7 or Chapter 13 bankruptcy in Illinois? Although much of bankruptcy is governed by federal law, some bankruptcy-related information and law is specific to your state.
Below you’ll find Illinois-specific information on filing for bankruptcy as well as articles on the various Illinois bankruptcy exemptions. And for in-depth information on bankruptcy law and procedures, visit Nolo’s Bankruptcy Center.
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How to File Bankruptcy in Illinois
Learn how to find some of the information you'll need in an Illinois bankruptcy, including means testing information needed for qualification purposes, Illinois exemption law to help you protect your property, official bankruptcy forms, and more.
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Illinois Bankruptcy Exemptions
Learn how to protect property in bankruptcy using Illinois bankruptcy exemption laws, including the Illinois homestead exemption, motor vehicle exemption, and wildcard exemption.
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The Illinois Homestead Exemption
If you file for bankruptcy in Illinois, the homestead exemption allows a single owner to protect up to $15,000 of equity in the house. A couple filing jointly can protect up to $30,000 of the equity in a home. Couples holding the home in tenancy by the entirety might be able to exempt more in an Illinois bankruptcy.
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