What Creditors Can't Take in Illinois
Money, home and vehicle exemptions that protect your property from creditors in Illinois.
Short answer: A debtor may protect up to $4,000 in any personal property, including money in a bank account. For consumer debt judgments entered on or after January 1, 2020, $1,000 of that amount in a checking or savings account is protected automatically, without a court order. 735 ILCS 5/12-1001(b); 735 ILCS 5/12-1001.1
| Money protected in a bank account | A debtor may protect up to $4,000 in any personal property, including money in a bank account. For consumer debt judgments entered on or after January 1, 2020, $1,000 of that amount in a checking or savings account is protected automatically, without a court order. § 12-1001.1: https://www.ilga.gov/Documents/legislation/ilcs/documents/073500050K12-1001.1.htm. Social Security, unemployment and public assistance benefits are also exempt (§ 12-1001(g)). |
|---|---|
| Homestead exemption | $50,000 in value of the debtor's interest in a home (house, condominium, cooperative or mobile home) they live in. If two or more people own the home, the total exemption is $100,000. Raised to $50,000 by P.A. 104-120, effective January 1, 2026 (the prior amount was $15,000). |
| Vehicle exemption | Up to $3,600 in value in one motor vehicle. Current text shows Source P.A. 104-120, eff. 1-1-26. Source: 735 ILCS 5/12-1001(c) |
| Bankruptcy exemptions | Illinois has opted out of the federal exemptions. Illinois residents must use Illinois exemptions in bankruptcy. Source: 735 ILCS 5/12-1201 |
Where to get help in Illinois
- Illinois Attorney General, Consumer Protection Division (collection agency licensing: Illinois Department of Financial and Professional Regulation)
- File a complaint or claim
More Illinois debt & collections
- Statute of Limitations on Debt in Illinois
- Wage Garnishment in Illinois
- How to Respond to a Debt Collection Lawsuit in Illinois
- Medical Debt Protections in Illinois
- All Illinois debt & collections rules
FAQ
How much money in a bank account is protected from creditors in Illinois?
A debtor may protect up to $4,000 in any personal property, including money in a bank account. For consumer debt judgments entered on or after January 1, 2020, $1,000 of that amount in a checking or savings account is protected automatically, without a court order.
What is the homestead exemption in Illinois?
$50,000 in value of the debtor's interest in a home (house, condominium, cooperative or mobile home) they live in. If two or more people own the home, the total exemption is $100,000.
Can a creditor take my car in Illinois?
Up to $3,600 in value in one motor vehicle.
Which bankruptcy exemptions can I use in Illinois?
Illinois has opted out of the federal exemptions. Illinois residents must use Illinois exemptions in bankruptcy.
General legal information, not legal advice. Laws change and local rules can differ; check the linked official source or talk to a lawyer about your situation.