When a debtor files for chapter 7 or chapter 13 bankruptcy, they are allowed certain protections under the bankruptcy code. Among the protections, are exemptions to exempt certain assets from becoming property of the bankruptcy estate. ...
Homestead exemption caselaw
7th Circuit Case In re: Belcher, No. 07-2174 (12/31/08). Appeal, S.D. Ill. Rev'd.Dist. Ct. erred in finding that bankrupt debtor was eligible for homestead exemption under 735 ILCS 5/12-901 even though said...