FAQs

In most cases, you can retain your home and vehicle. However, if the equity in these assets exceeds Illinois' protection limits, you may need to repay some creditors over a 3-5 year period.

Filing for chapter 13 bankruptcy can halt foreclosure proceedings at any point before the sheriff's sale. This allows you to propose a plan to repay mortgage arrears and associated fees over a 3-5 year period.

Retaining unsecured debts like credit cards is not permitted. For secured debts such as mortgages or vehicle loans, a reaffirmation process is available. The Southern District of Illinois now requires a court hearing to determine if reaffirmation is appropriate based on your financial situation.

Your co-signer will remain responsible for the debt. If the debt is secured by property like a home or vehicle, the co-signer can typically keep the property by staying current on the loan obligations.

It's not advisable to transfer assets before bankruptcy. Any transfers should be at fair market value and may be scrutinized, especially if made to friends or family. In Illinois, trustees can reclaim property transferred at below market value within the past 4 years. Additionally, property protection laws only apply to assets in your possession.

Workers' compensation is an insurance program that provides medical benefits and wage replacement to employees who suffer work-related injuries or illnesses.

Generally, employees are covered by workers' compensation from their first day of employment. However, independent contractors and volunteers are typically not eligible for these benefits.

Workers' compensation covers injuries or illnesses that occur as a direct result of job duties or workplace conditions. This includes acute injuries, repetitive stress injuries, and occupational diseases.

To file a workers' compensation claim, promptly report the injury to your employer, seek medical attention, and complete the necessary claim forms provided by your employer or the relevant state agency.

Medical expenses related to approved workplace injuries are covered by workers' compensation insurance. You are not responsible for paying these costs out of pocket.