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Illinois Bankruptcy Exemptions

What Exemptions are allowed when filing bankruptcy in Illinois?

Below is a list of some of the available Illinois bankruptcy exemptions. This list only identifies a small fraction of the exemptions available in Illinois and there are many exemptions (such as retirement accounts, life insurance, and trade tools) that are not listed and may be beneficial to you. Talk to a qualified Illinois bankruptcy attorney in your area to have all the available exemptions explained to you. Only an Illinois bankruptcy attorney can properly list and explain all of the applicable exemptions offered in Illinois.

Illinois Bankruptcy Exemptions

Homestead
$7,500
Proceeds of sale of homestead
$7,500
Wearing apparel, bible, school books, & family pictures
$2,000
Personal injury awards
$7,500
Motor Vehicle
$1,200
Tools of Trade
$750.00

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