| Debt Relief Solutions - Understanding Illinois Laws | | | | profit-sharing, and defined benefit accounts |
| about Bankruptcy | | | | Personal Property/Possessions |
| Illinois bankruptcy laws for those residents who | | | | - Family photos |
| file Chapter 7 bankruptcy include exemptions as | | | | - Bibles |
| long as the person filing is a single person and the | | | | - School textbooks |
| property is in their name only. This list is complete | | | | - Clothing |
| and anything not on this list will be liquidated if it | | | | - Health needs |
| has any value. If you are seeking more | | | | - Funds from personal injury up to $15,000 |
| information about a specific case, you need to | | | | - Tuition trust funds |
| consult a bankruptcy lawyer for assistance. | | | | - Wrongful death funds |
| Real Estate and Vehicles | | | | - Sold exempt property proceeds |
| - Cars and vehicles up to $1200 | | | | - Trust funds, cemetery funds, care funds, etc. |
| - Real estate that has value up to $7,500 | | | | Public Benefits |
| - Wildcard: personal property that is valued up to | | | | - Public assistance |
| $2,000 | | | | - Social security |
| Retirement Accounts | | | | - Veteran's benefits |
| - $1,000,000 worth of traditional or Roth IRA | | | | - Compensation for crime victims |
| - Pension for civil service employees, county | | | | - WWII restitution for Aleuts and |
| employees, disabled firefighters, widows and | | | | Japanese-Americans |
| children of firefighters, firefighters, general | | | | - Occupational disease compensation |
| assembly members, house of correction | | | | - Worker's compensation |
| employees, judges, municipal employees, park | | | | Trade Tools |
| employees, public library employees, police | | | | - implements, tools, and books up to $1,500 |
| officers, sanitation employees, state employees, | | | | Wages |
| state university employees, and teachers. | | | | - 45 times the federal or state minimum wage, or |
| - Retirement accounts that are tax exempt: S, | | | | four-fifths of the earned but unpaid wages, |
| 401(k), 403(b), SEP, money purchase plans, | | | | depending on which is higher. |