Avoid Mistakes When Planning and Filing Illinois Bankruptcy Cases

The best-planned bankruptcy cases go unnoticed. A few debtors glide through the system without attracting attention and receive full discharges in record time. Luck is not involved, but rather each successful debtor begins planning strategically a few weeks or months in advance. These debtors know something that you don’t.

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"Illinois Bankruptcy Schedules"

In all Illinois bankruptcy cases under Chapters 7 and 13, debtors must provide the court with required disclosures including all assets, liabilities, and creditors. In addition, many other financial disclosures are required. The compiled set of disclosures comprise multiple schedules of items according to classifications used by the court. Stated similarly, schedules are lists of items requested by the court in a format required by law. All Illinois bankruptcy courts require conformity with the Federal Rules of Bk. Procedure which incorporate local rules in all Illinois bankruptcy proceedings.

New privacy rules went into effect December 1, 2003 for all Illinois bankruptcy courts. Previously, the social security number for each debtor was made publicly available through the clerk's office in all cases. The new rule now requires only the last four digits to be made publicly available because of the rise in identity theft. Concerns regarding inclusion of the names and ages of minor children within schedules remain hotly debated. The Illinois Bankruptcy Court for the Northern District issued a standing order on February 17, 2004 because of the dischargeability of attorney fees. In a case under Chapter 7 of the Code, where the debtor's attorney agreed to represent the debtor upon the condition of a later written agreement to pay attorney fees after filing, the Court will now allow an attorney to withdraw if the debtor refuses to sign the agreement.

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