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You may be considering experiencing financial stress and deciding whether to file a Chapter 13 or Chapter 7 bankruptcy in Illinois. You are not alone. In fact, there were 28,868 Chapter 7 Bankruptcies and 18,890 Chapter 13 Bankruptcies in Illinois in the 12-month period ending June 30, 2019.

As you read this article, you will learn how to reduce your financial burden through learning about a Chapter 7 and Chapter 13 bankruptcy in Illinois, and some additional opportunities that can help you attain the level of financial freedom.

The Illinois chapter 13 bankruptcy contains details that are not just beneficial to those residing in Illinois, but for everyone that resides in the United States. If you require more knowledge on the subject matter, you can read through our article on chapter 13 bankruptcy. Before delving into the intrinsic details of the topic, let us take a look at chapter 13 bankruptcy and how it differs from Chapter 7 bankruptcy.

Chapter 7 vs Chapter 13 Bankruptcy Illinois

Chapter 7 Bankruptcy:  This type of bankruptcy is also referred to as “liquidation bankruptcy.” In this type of bankruptcy, debtors must show that they can’t pay their debt, as such, they file for this type of bankruptcy so that their debt can be discharged. If you’re eligible to apply for this type of bankruptcy, you can apply for it, and your debt will be discharged within the next 120 days. You can check one of the sections below, to find a calculator for finding out your chapter 13 payment arrangement, and for checking if you’re qualified for a chapter 7 bankruptcy. 

Chapter 13 Bankruptcy: Chapter 13 bankruptcy is also known as “wage earners bankruptcy”. With Chapter 13 bankruptcy, you are voluntarily reorganizing you debt that is rescheduled such that the debtor pays the debt on an installment often in three or five years. To file for a chapter 13 bankruptcy, you need to hire the services of an attorney because of the technicalities involved in the process. If you’re familiar with chapter 13 bankruptcy, you will notice that people prefer it to other types of bankruptcy; this is because most people earn above the threshold of those that can file for a chapter 7 bankruptcy. 

Since we’ve laid a foundation for the two types of bankruptcy, we’ll now delve into Chapter 13 Bankruptcy in Ililnois. In this article, you will learn the following;

  • Chapter 13 Bankruptcy Plan Payment in Illinois
  • Illinois Bankruptcy Exemptions
  • Chapter 13 Bankruptcy Illinois Trustees
  • Illinois Bankruptcy Districts and Court Locations
  • Should I File a Chapter 13 Bankruptcy in Illinois?

Chapter 13 Bankruptcy Plan Payment in Illinois

When filing for a chapter 13 bankruptcy, the first thing to do is to estimate your chapter 13 plan payment. A chapter 13 plan payment takes lots of things into account, some of which are; the Illinois administrative expense multiplier, the Illinois bankruptcy allowable living expenses, and the IRS National expense figures.

A lot of people are eager to know if they can file for Chapter 7 bankruptcy or not, and if it is the Chapter 13 bankruptcy that they’re interested in, then they’re curious to know their chapter 13 payment plan.  Estimating an accurate chapter 13 bankruptcy arrangement payment by yourself can be a hectic task due to the technicalities involved in the process. This is why we created an easy-to-use calculator that can help you estimate your chapter 13 payment arrangement, and check if you’re eligible for a chapter 7 bankruptcy. 

How the Illinois Bankruptcy calculator works

  • Rough Estimate Calculator: This calculator takes a short time, although it doesn’t give you the precise information you need, as it is only designed to give you a rough estimate of your payment. If you want to have more intrinsic knowledge of what you’re to pay, then you should use the more precise estimate calculator. 
  • Quick and Precise Calculator below: This calculator gives you a more detailed result. Always have it in mind that the figure offered here is also an estimate, but with a greater degree of accuracy if you want the particular figure, its best to hire the services of an attorney. 

Illinois Means Testing

The calculators described above take your Illinois means testing data into account, when calculating if you’re eligible for a chapter 7 bankruptcy as well.

You will see a table below, with the details for the Illinois Means Test for filings on or after May 1, 2020. Have it in mind that each individual that comes after the first seven people in $9,000. 

# of PeopleAnnual Income
1$54,877
2$72,593
3$83,759
4$103,074
5$112,074
6$121,074
7$130,074
8$139,074
9$148,074

Illinois Bankruptcy Exemptions

Before applying for a chapter 13 bankruptcy, ensure that you have assets that are not held by the exemptions. Even if you’re eligible for chapter 7 bankruptcy, but you have a high equity position in assets, then chapter 13 bankruptcy is the more logical option. 

Illinois has some specific exemptions that you should take into account when filing for bankruptcy. If you have assets that are above Illinois’s exemptions, then those assets may be liquidated. Here’s a full list of Illinois Bankruptcy exemptions.

Illinois Chapter 13 Bankruptcy Trustees

A trustee has the duty to administer bankruptcy proceedings and liquidate debtor’s nonexempt assets.   There are more chapter 7 trustees that chapter 13 trustees. Here’s a list of Chapter 7 trustees in Illinois and the list of Chapter 13 trustees in Illinois. We have also included the trustees in the table below broken out by districts.

Chapter 7 Trustees in Illinois

DistrictNamePhone
CentralCharles E. Covey(309) 674-8125
CentralAndrew S. Erickson(217) 425-1515
CentralJames R. Inghram(217) 222-7420
CentralRoger L. Prillaman(217) 384-1300
CentralJeana K. Reinbold(217) 241-5629
CentralJeffrey D. Richardson(217) 425-4082
CentralKristin L. Wilson(217) 345-3079
NorthernRichard S. Alsterda(312) 977-9235
NorthernIra Bodenstein(312) 666-2861
NorthernJoseph E. Cohen(312) 368-0300
NorthernEugene R. Crane(312) 641-6777
NorthernMichael K. Desmond(312) 251-5287
NorthernDeborah Ebner(312) 922-3838
NorthernRichard M. Fogel(312) 276-1334
NorthernFrances F. Gecker(312) 276-1400
NorthernJohn E. Gierum, Jr.(847) 318-9130
NorthernIlene F. Goldstein(847) 562-9595
NorthernKaren R. Goodman(312) 527-4000
NorthernBrenda Porter Helms(773) 463-6427
NorthernDavid R. Herzog(312) 977-1600
NorthernCindy M. Johnson(312) 345-1306
NorthernFrank J. Kokoszka(312) 429-9600
NorthernGina B. Krol(312) 368-0300
NorthernDavid P. Leibowitz(847) 249-9100
NorthernPhillip D. Levey(312) 348-9682
NorthernPhilip V. Martino(312) 715-5000
NorthernRichard J. Mason(312) 849-8100
NorthernAndrew J. Maxwell(312) 368-1138
NorthernPeter N. Metrou(630) 551-7171
NorthernAlex D. Moglia(847) 884-8282
NorthernBernard J. Natale(815) 964-4700
NorthernNorman B. Newman(312) 521-2000
NorthernJoseph D. Olsen(815) 965-8635
NorthernGus A. Paloian(312) 460-6299
NorthernRonald R. Peterson(312) 222-9350
NorthernSteven R. Radtke(312) 346-1935
NorthernN. Neville Reid(312) 224-1245
NorthernThomas E. Springer(630) 510-0000
NorthernCatherine L. Steege(312) 222-9350
NorthernMiriam R. Stein(312) 855-6109
NorthernJames E. Stevens(815) 962-6611
NorthernGregg E. Szilagyi(312) 663-0801
NorthernJoji Takada(773) 790-4888
NorthernZane L. Zielinski(312) 276-1405
SouthernRobert E. Eggmann, III(618) 222-1900
SouthernDana S. Frazier(618) 687-5707
SouthernDonald M. Samson(618) 235-2226

Chapter 13 Trustees in Illinois

DistrictNamePhone
CentralMarsha L. Combs-Skinner(217) 837-9730
NorthernMarilyn O. Marshall(312) 431-1300
NorthernLydia S. Meyer(815) 968-5354
NorthernGlenn B. Stearns(630) 981-3888
NorthernTom Vaughn(312) 294-5900
SouthernRussell C. Simon(618) 277-0086

Illinois Court Locations and Bankruptcy Districts

Illinois has a three bankruptcy districts: Northern, Centra and Sourthern. Let’s go through the details of each district and the court locations:

Northern Bankruptcy District Illinois

The Illinois Northern Bankruptcy District has five bankruptcy courts. First, you may want to check out the Illinois Northern District forms and local rules and orders. If you’re looking for the court location, we have included it below:

Central Bankruptcy District Illinois

The Central Illinois Bankruptcy District has three locations. You may want to observe the local Central District bankruptcy forms. The court locations are below:

Sourthern Bankruptcy District Illinois

The Southern Bankruptcy District in Illinois has two locations. You may want to observe the local rules for the Southern District of Illinois bankruptcy Court. The two court locations are below:

Should I File Bankruptcy in Illinois?

If you’re overwhelmed with debt, and you don’t want, or you’re not qualified for a Chapter 7 bankruptcy, your next best option is a Chapter 13 bankruptcy. Apart from filing for bankruptcy, other available options involve arranging for debt settlement or improving on your debt management ability. Whichever method you want to use in getting out of your messy debt situation, its best to research on the method, and weigh the advantages and disadvantages. 

Debt can result in a high level of stress and anxiety; it can even cause some serious illnesses like high blood pressure and stroke. As such, I’ll urge you to read on the different methods of relieving stress.  Feel free to contact me if you have any questions whatsoever.

Post Author: Ben Tejes

Ben Tejes is a co-founder and CEO of Ascend Finance. Before Ascend, Ben held various executive roles at personal finance companies. Ben specializes in Chapter 13 Bankruptcy, Debt Settlement, Chapter 7 Bankruptcy and debt payoff methods. In his free time, Ben enjoys spending time going on adventures with his wife and three young daughters.

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