How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Phillips Esq. Your Own Question
Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Bankruptcy Law
Satisfied Customers: 17890
Experience:  B.A.; M.B.A.; J.D.
16551887
Type Your Bankruptcy Law Question Here...
Phillips Esq. is online now
A new question is answered every 9 seconds

In an Illinois Chapter 7 filing, how is wedding jewelry handled?

This answer was rated:

In an Illinois Chapter 7 filing, how is wedding jewelry handled? Is it part of the personal property exemption or a separate exemption?
Thank you for giving me the opportunity to assist you. Kindly use CONTINUE or REPLY button to ask for clarification or follow-up questions.


Question: In an Illinois Chapter 7 filing, how is wedding jewelry handled? Is it part of the personal property exemption or a separate exemption?


Response:
It is not handled separately. It is part of your personal property exemption—wearing apparel, books, etc. and your Wild Card exemption. See 735 ILCS 5/12-1001(a) and (b) (Wild Card exemption):



http://www.ilga.gov/legislation/ilcs/fulltext.asp?DocName=073500050K12-1001




Phillips Esq. and 3 other Bankruptcy Law Specialists are ready to help you

Related Bankruptcy Law Questions