I read today that Illinois has a wage exemption of only 85 percent of your paycheck. Does that mean the trustee can take 15% of my paycheck if I file a chapter 7? I know that if a I discharge my debts under Chapter 7, I could make it on my paycheck, but I'm not sure I could if the trustee takes a chunk of it. Could someone please explain this to me?
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I think of my bankruptcy less as "walking away" and more as "gnawing my leg off to get out of a trap". -
Never heard of a wage garnishment imposed after a Chapter 7 discharge. -
A wage exemption has to do with you losing a lawsuit to a creditor and getting your check garnished. A Chapter 7 filing halts the garnishment and discharges the debt.
It has nothing to do with a trustees powers.Comment
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