Illinois bankruptcy laws are meant to settle the cases of debtors who have their debts to their creditors.
There is a complete process of court proceedings involved after the filing of the case.
The valuation and the due settlement processes are tough ones.
The Illinois Court decides on the case after an assessment of the entire property of the debtors.
- There are exemptions related to the process
- The liquidation process is dependent on the annual income of the debtor
- A good attorney is very important during the entire process