Chapter 7

Should I Consider Chapter 7?

In a Chicago Chapter 7 bankruptcy case, you file a voluntary petition with the United States Bankruptcy Court for the Northern District of Illinois asking the court to discharge your debts.  In exchange for the discharge – which eliminates your obligatiContinue Reading...

The Illinois Homestead Exemption

By Illinois statute, debtors are entitled to “an estate of homestead” of up to $15,000 in property used as his or her residence.  The homestead and all right in and title to that homestead is exempt from sale for the payment of his or her debts. 7Continue Reading...