What Is the $4,000 Illinois Wildcard Exemption in Chapter 7 Bankruptcy?
The Flexible Exemption That Helps Illinois Filers Keep What Matters Most Key Takeaways: The Illinois wildcard exemption, found at 735 ILCS 5/12-1001(b), protects up to $4,000 of a debtor’s equity in almost any personal property, making it one of the most flexible tools for Chapter 7 filers. It commonly applies to cash, bank balances, tax […]