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Illinois Homestead Exemptions..

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    #1

    Illinois Homestead Exemptions..

    I know on the 1st of this month the exemption was increased to 15k for a individual filing for BK..

    Questions is .. Is it still the same as the old law when it comes to doubling if filing jointly with the Mrs.?
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    #2
    i would think it would be. but have no solid proof.
    Im not an attorney or a trustee. You cant trust me either though!

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      #3
      I live in IL and I have no idea. We had no money (so the trustee thought) in our house. (Really even just selling it now we barely broke even after we paid commissions)
      Filed 09/05
      Discarged 1/2/06
      Closed 1/13/06

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        #4
        I'm from illinois and I know our lawyer said that since we were married that some things double...but we rent so I didn't need to worry about the homestead. I looked on this site:

        Bankruptcy in Illinois - Illinois exemptions
        http://www.illinoisbankruptcy.com/exemptions.html
        Illinois bankruptcy exemptions. Find out the property you can keep after filing bankruptcy in Illinois.


        According to that site.... it says yes it is doubled if you are married, check with a lawyer just incase!!

        pink

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