Debt Relief in Illinois
Illinois has a high volume of bankruptcy filings, particularly in the Chicago metropolitan area. The state uses its own exemption system with a homestead exemption of $15,000 per individual. Illinois does not permit use of federal bankruptcy exemptions. The state has extensive networks of credit counseling agencies and legal aid organizations that assist consumers with debt issues.
FAQ
What debt relief options are available in Illinois?
Residents of Illinois have access to consumer proposals, personal bankruptcy, debt consolidation loans, credit counselling, and debt management plans. Consumer proposals and bankruptcy are administered by Licensed Insolvency Trustees under federal law.
How do I find a Licensed Insolvency Trustee in Illinois?
You can browse our verified directory of 0 Licensed Insolvency Trustees in Illinois, or search the Office of the Superintendent of Bankruptcy (OSB) register. Initial consultations are typically free.