Filing for bankruptcy doesn’t mean sacrificing everything you’ve worked for. At Brian G. Hiatt, Attorney at Law, we prioritize asset protection, ensuring you can strategically retain what matters most during debt relief proceedings.

Why Asset Protection Matters in Bankruptcy

Many consumers fear losing their home, vehicle, and savings in bankruptcy. Fortunately, Illinois offers specific exemptions that shield:

• 100% of retirement funds, certain life insurance policies, Social Security, and worker’s compensation proceeds
• Up to $2,400 in vehicle equity
• $15,000 in home equity (or $30,000 for married couples)
• Up to $4,000 ($8,000 for married couples) in personal property like furniture, jewelry, or cash
• Up to $15,000 from personal injury awards or settlements
  Kankakee Bankruptcy Law

Understanding and leveraging these protections can significantly impact your financial outcome.

Chapter 7 vs. Chapter 13—Choosing the Right Bankruptcy for Asset Preservation

• Chapter 7 Bankruptcy (Liquidation):
  Ideal for individuals with limited assets. If your assets fall within exemption limits, your case may result in a “no asset” filing—meaning you retain everything legally exempt and receive debt discharge quickly.
• Chapter 13 Bankruptcy (Repayment Plan):
  Better suited for those with non-exempt assets. Instead of liquidating property, you may repay unsecured creditors over 3–5 years—often preserving your most important assets.
  Kankakee Bankruptcy LawWikipedia

Maximizing Exemptions & Strategic Planning

At Brian G. Hiatt, Attorney at Law, I guide clients through:

1. Mapping available exemptions—including homestead, vehicle, personal property, and more.
2. Asset conversion strategies, when applicable, to fit them within exemption thresholds.
3. Timing and filing strategy, ensuring you use state-specific rules to your advantage.

What You Gain with Skilled Legal Support

• Protection from creditors via the Automatic Stay, which halts collections, garnishments, and foreclosures the moment you file.
• Tailored filing strategy—identifying whether to pursue Chapter 7 or Chapter 13 based on your assets and financial situation.
• Full implementation of all legal protections—ensuring you retain your home, vehicle, retirement accounts, and necessary personal items.

Real Results, Real Peace of Mind

Imagine filing for bankruptcy without losing your home or retirement savings. I have helped many clients in Kankakee County and surrounding areas achieve just that—finding relief while preserving their financial foundation.

Protect Your Future Today

Call 815-304-5441 or email Brian G. Hiatt, Attorney at Law, to schedule a confidential consultation. Let’s explore how bankruptcy can not only provide debt relief but also safeguard your most valuable assets.