Illinois sets a limit on how much of a vehicle’s value is protected in a Chapter 7 bankruptcy. That limit comes from the Illinois state vehicle exemption, which changed on January 1st, 2026. This post covers what the exemption was before that date and what it is now.
Frequently Asked Questions
How much of my car’s value is protected in Illinois bankruptcy?
How much of your car’s value is protected in a Chapter 7 bankruptcy is determined by the Illinois state vehicle exemption. The Illinois state vehicle exemption prior to January 1st, 2026 was $2,400. As of January 1st, 2026, that was increased to $3,600.
Are you struggling financially? Pratt & Maegli Law Firm in Rockford helps Illinois families and individuals explore Chapter 7 and Chapter 13 options with clear answers and a personal approach. Call (815) 315-0683 or visit rockfordbankruptcytoday.com to schedule a confidential consultation and take the first step toward real financial relief.