What debts can be cancelled in bankruptcy under Illinois law?

Illinois law does not provide for debt cancellation. The only way to get debts cancelled as to file bankruptcy, which is governed under federal law. If you live in Illinois and you wish to declare bankruptcy to deal with your debts, you will be able to file your case in Illinois, you’ll simply file the case in the federal bankruptcy court located within the state.

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Illinois Bankruptcy Exemptions

When filing for bankruptcy in Illinois, federal exemptions are not available. In this article, you will find a list of state exemptions available to debtors in Illinois.

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Can I choose federal rather than state exemptions when filing in Illinois?

An individual filing Chapter 7 bankruptcy in the state of Illinois must only choose exemptions based on state laws; he or she cannot revert to use of the federal laws for exemption purposes, as can be done in some other states. Illinois does not recognize federal exemptions; state exemption laws take full precedence in every Chapter 7 case, so anyone filing in Illinois must be aware of what the state rules are and how they apply to his or her specific case.

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