How Much Home Equity Can I Have and Still File Chapter 7 in Illinois?
Protecting Your Home When Debt Feels Overwhelming Key Takeaways: Filing Chapter 7 in Illinois does not automatically mean losing your home. The outcome depends on your equity and whether Illinois’s homestead exemption shields it. Effective January 1, 2026, Illinois protects $50,000 of homestead equity for individual filers and $100,000 for married couples who both hold […]