Falling Behind on ComEd or Nicor? Here’s What a Chapter 7 Filing Can Actually Do Key Takeaways: Past due utility bills in Illinois are generally unsecured debts, so a Chapter 7 discharge typically wipes out personal liability for ComEd, Nicor Gas, Peoples Gas, and municipal water arrears just as it does credit card and medical […]
Recent Credit Card Charges and the Risk of a Discharge Objection in Illinois Key Takeaways: Under 11 U.S.C. § 523(a)(2)(C), consumer debts for luxury goods or services owed to a single creditor totaling more than $900 incurred within 90 days of filing may be presumed nondischargeable in Chapter 7, with a parallel rule for cash […]
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 […]
Protecting Your Home When You File for Bankruptcy Relief in Illinois Key Takeaways: In Illinois, home equity is calculated as your property’s fair market value minus your mortgage balance and any other liens, and this figure determines whether your residence is fully protected in a Chapter 7 case. The Illinois homestead exemption generally shields up […]
Understanding Whether Bankruptcy Can Wipe Out Past Due Rent in Illinois Key Takeaways: Chapter 7 bankruptcy can discharge back rent owed to an Illinois landlord because unpaid rent is treated as unsecured, contract-based consumer debt under written leases or oral month-to-month arrangements. However, discharging the money debt does not undo an eviction, since a possession-only […]
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