Re: chapter 7 questions

Posted by Parry (67.5.177.6) on January 19, 2004 at 16:33:18:

In Reply to: chapter 7 questions posted by kareninillinois on January 19, 2004 at 16:17:27:

I doubt the computer comes close to $2000 in value and while only (1) car is exempt. It is highly unlikely the trustee will take (1) of these old--low value cars.

Illinois exemptions:

wearing apparel, bible, school books, and family pictures of the debtor and dependents; equity interest in any other property not to exceed $2,000 in value;
interest in any one motor vehicle not to exceed $1,200 in value;
equity interest in any implements, professional books, or tools of the trade not to exceed $750 in value;
Personal injury awards $7,500;
Proceeds of sale of homestead $7,500;
professionally prescribed health aids;
life insurance proceeds;
social security benefits;
veteran's benefits; disability,
illness or unemployment benefits;
alimony,
retirement plan proceeds. (735 ILCS 5/12-1001, et seq.)

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