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      <h3>Illinois Bankruptcy Laws</h3>
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      <i>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By: Eric Avenaim<br>
      Posted: 2009-10-28 07:19:00</i>
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      Debt Relief Solutions - Understanding Illinois Laws about Bankruptcy Illinois bankruptcy laws for those residents who file Chapter 7 bankruptcy include exemptions as long as the person filing is a single person and the property is in their name only. This list is complete and anything not on this list will be liquidated if it has any value. If you are seeking more information about a specific case, you need to consult a bankruptcy lawyer for assistance. Real Estate and Vehicles- Cars and vehicles up to $1200<br>- Real estate that has value up to $7,500<br>- Wildcard: personal property that is valued up to $2,000 Retirement Accounts - $1,000,000 worth of traditional or Roth IRA<br>- Pension for civil service employees, county employees, disabled firefighters, widows and children of firefighters, firefighters, general assembly members, house of correction employees, judges, municipal employees, park employees, public library employees, police officers, sanitation employees, state employees, state university employees, and teachers.<br>- Retirement accounts that are tax exempt: S, 401(k), 403(b), SEP, money purchase plans, profit-sharing, and defined benefit accounts Personal Property/Possessions- Family photos<br>- Bibles<br>- School textbooks<br>- Clothing<br>- Health needs<br>- Funds from personal injury up to $15,000<br>- Tuition trust funds<br>- Wrongful death funds<br>- Sold exempt property proceeds<br>- Trust funds, cemetery funds, care funds, etc. Public Benefits - Public assistance<br>- Social security<br>- Veteran's benefits<br>- Compensation for crime victims<br>- WWII restitution for Aleuts and Japanese-Americans<br>- Occupational disease compensation<br>- Worker's compensation Trade Tools - implements, tools, and books up to $1,500 Wages - 45 times the federal or state minimum wage, or four-fifths of the earned but unpaid wages, depending on which is higher.NHM1.COM is a consumer resource offering financial and insurance related services. Our affiliates, single specialized companies within each field, have decades of experience. Our services offer customers seeking help with debt consolidation,debt settlement, debt negotiation, credit repair, home financing, health and life insurance, the ability to improve their financial and insurance exposure.We have committed our resources as a Team to help Americans just like you find financial freedom. Our ultimate goal is to help you solve your financial woes so you can build a strong sustainable fiscal future.
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