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.

Free - 2010 Bankruptcy Strategies Explained

"Illinois Chapter 13 Laws"

All Illinois bankruptcy cases under Chapter 13 must be filed in federal court. The Code incorporates state statutes for property exemption options, permissible collection and foreclosure proceeds, and liability for contracts, torts and criminal matters. All Chapter 13 cases must provide creditors with repayment equal to or greater than would be available for distribution under Chapter 7.

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.

Back to Illinois Bankruptcy words & phrases.