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Bankruptcy in Illinois: Exemptions and Filing Guide

State-specific bankruptcy exemptions and filing information for Illinois. These exemptions determine what property you can keep when filing Chapter 7 bankruptcy.

Data last updated: Jan 15, 2025

Key Takeaways

  • Homestead exemption: $15,000.
  • Vehicle exemption: $2,400.
  • Must use state exemptions (no federal option).
  • Attorney fees: $1,200–$2,000 (Ch. 7) / $3,000–$4,500 (Ch. 13) typical.
$15,000 Homestead exemption
$2,400 Vehicle exemption
No Federal option
$338 (Chapter 7) / $313 (Chapter 13) Filing fee

Illinois Bankruptcy Exemptions

  • Homestead$15,000
  • Vehicle$2,400
  • Personal property$4,000 household goods
  • Wildcard$4,000
  • Federal exemptionsNot available

Means Test: Illinois Median Income

To qualify for Chapter 7 in Illinois, your income must be below the state median or you must pass the means test showing no disposable income for creditors.

  • 1 person$63,400
  • 2 people$78,900
  • 3 people$90,200
  • 4 people$104,600

Filing Costs

  • Court filing fee$338 (Chapter 7) / $313 (Chapter 13)
  • Typical attorney fee$1,200–$2,000 (Ch. 7) / $3,000–$4,500 (Ch. 13)
  • Court districtsNorthern, Central, and Southern Districts of Illinois

Illinois bankruptcy court

Related Resources

Frequently Asked Questions

  • What is the homestead exemption in Illinois?

    Illinois provides a $15,000 homestead exemption, which is relatively low compared to many other states.

  • Does Illinois have a wildcard exemption?

    Yes. Illinois allows a $4,000 wildcard exemption to protect any property of your choosing.

  • Can I use federal exemptions in Illinois?

    No. Illinois has opted out of the federal exemption system.

  • Is there a local filing requirement in Illinois?

    You file in the district where you have resided for the greater portion of the 180 days before filing. The Northern District (Chicago area) handles the majority of Illinois bankruptcy filings.

Legal Disclaimer: FreeNetLaw provides general legal information, not legal advice. The information on this site is not a substitute for consultation with a licensed attorney. Laws vary by jurisdiction and change frequently. Always verify information with official sources and consult a qualified attorney for advice about your specific situation.

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