411 Hamilton Blvd, Suite 1600, Associated Bank Building Peoria, Illinois 61602
 

TELEPHONE | (309) 673-5535 OR (800) 248-7212
Will I lose property in a bankruptcy?

In most cases you are able to keep all of your property. Illinois and federal law give you protection of most property from creditors. Some types of property are fully protected regardless of value, like retirement or pension plans. Other types of property are only protected up to a certain dollar amount, like equity in your house above the mortgage balance. We strongly suggest that you consult with a lawyer about these rules, and if you are at risk of losing property in a Chapter 7 bankruptcy case we can provide you with options, like a Chapter 13 payment plan, to keep non-exempt property and pay back only what you can afford.


Bankruptcy
  • Chapter 7
  • Chapter 13
  • Alternatives to Bankruptcy
  • Options for Businesses
  • Creditor/Trustee Services
Foreclosures
  • Judicial Foreclosure
  • Nonjudicial Foreclosure