Illinois Bankruptcy Exemptions Lawyer
Chapter 7 is not designed to leave people with nothing from which to rebuild. Rather, it is designed to provide meaningful debt relief while allowing to protect your property through the use of exemptions allowed under Illinois law. Most people who file Chapter 7 are able to retain all of their property. Rather than being a destructive process that takes everything you own, it is meant to help you move toward a sound financial future. Always remember that Chapter 13 is always an option if you have more property than you can protect under Chapter 7. Chapter 13 is designed to protect ALL assets.
At the law firm of Edwin L. Feld & Associates, in Chicago and serving the Greater Chicagoland area, our attorneys understand these concerns and help people every day understand that there are numerous key exemptions in Illinois bankruptcy laws that allow you to protect key property and assets during the Chapter 7 process.
Call 888-645-4357 to schedule a free initial consultation with an experienced bankruptcy lawyer and learn more about bankruptcy exemptions in Illinois. WE OFFER PAYMENT PLANS.
Exempt Bankruptcy Assets in Chicago
Every individual's case will be different, but by working with an experienced lawyer who understands the bankruptcy process, you may be able to protect your most important assets in a Chapter 7 case. Some of these exemptions are listed below:
- Retirement accounts (including IRAs and pensions)
- Personal property
- Veterans or workers' compensation benefits
- Cash value in insurance policies
- Personal injury and workers' compensation awards
- Tools for work
From the initial filing to rebuilding your credit after bankruptcy, we help you address all the issues that matter most to you. We help you identify the most important things in your life to protect and work to find exemptions that will help you reach those goals.
Illinois Bankruptcy Exemption Attorneys
To learn more about bankruptcy exemptions with an experienced bankruptcy attorney at Edwin L. Feld & Associates, contact us toll free at 888-645-4357. You may also contact us by e-mail.