Can I keep my home in bankruptcy? The good news is that there are several options available to help you keep your home in bankruptcy.
Illinois bankruptcy exemptions
In the state of Illinois, bankruptcy exemptions are used to protect certain assets from being seized by the bankruptcy court and used to repay creditors. The purpose of these exemptions is to ensure that filers are able to maintain a basic standard of living and keep essential property after filing for bankruptcy.
The Medical Bankruptcy Fairness Act of 2021 proposed legislation addresses Medical Bankruptcy and Student Loan Assistance
The Medical Bankruptcy Fairness Act of 2021 proposes to ease the impact of medical bills due to unforeseen medical circumstances and for Public Heath related shutdowns (ie: the Covid-19 pandemic). The legislation is...
H is for Homestead exemption
When a debtor files for chapter 7 or chapter 13 bankruptcy, they are allowed certain protections under the bankruptcy code. Among the protections, are exemptions to exempt certain assets from becoming property of the bankruptcy estate. ...
Homestead exemption caselaw
7th Circuit Case In re: Belcher, No. 07-2174 (12/31/08). Appeal, S.D. Ill. Rev'd.Dist. Ct. erred in finding that bankrupt debtor was eligible for homestead exemption under 735 ILCS 5/12-901 even though said...