Bankruptcy Facts and Stats

  • By filing bankruptcy you can get your car back after it has been repossessed.
  • Over 6,000 people filed for bankruptcy in Illinois in the month of June.
  • You may have your drivers license reinstated by filing bankruptcy.
  • You can have your utilities turned back on, or stop them from being shut off.
  • Some lawsuit judgments may be fully discharged in bankruptcy.
  • You can keep your home and car even if you file bankruptcy.
  • Illinois allows a "wildcard" exemption which allows you to keep up to $4,000 of any property when you file bankruptcy.

Bankruptcy Resources

United States Courts Website

http://www.uscourts.gov/FederalCourts/Bankruptcy/BankruptcyResources.aspx

United States Bankruptcy Court - Southern District of Illinois

http://www.ilsb.uscourts.gov/

Illinois Southern District Court

http://www.ilsd.uscourts.gov/

Bankruptcy Tips
  • Don't run up your credit cards before filing for bankruptcy. Charges made within 90 days of filing cannot usually be discharged.
  • Do not borrow money or make debt payments or any significant property transfers without seeking a competent lawyer for advice.
  • Never transfer any interest in any real estate that you own to anyone who says he or she is trying to help you save your home.
  • Notify all of your creditors and debt collectors of your decision to file for bankruptcy and how to contact your attorney.