Crystal Lake (815) 788-9511


Protection for Motor Vehicle in Chapter 7 Bankruptcy

Posted by Timothy Brown | Jun 14, 2023 | 0 Comments

The Illinois "Motor Vehicle Exemption" (735 ILCS 5/12-1001(b) provides certain protections to a Chapter 7 debtor that owns a vehicle.  The Motor Vehicle Exemption allows the Chapter 7 debtor to exempt from liquidation a vehicle, if owned outright, that does not exceed $2,400.00 in value.  If there is a loan on the vehicle that is encumbered by a valid lien interest, the Motor Vehicle Exemption can be used to exempt up to $2,400.00 of the equity in the vehicle. 

About the Author

Timothy Brown

Meet Our Experienced Crystal Lake Bankruptcy Lawyer Attorney Timothy Brown of The Law Office of Timothy Brown is a highly accomplished Crystal Lake bankruptcy lawyer. With over a decade of experience, he has the necessary skills to help his clients address a broad variety of legal matters pertai...


There are no comments for this post. Be the first and Add your Comment below.

Leave a Comment

Contact Us

Law Office of Timothy Brown is committed assisting individuals in need of Debt Relief, Bankruptcy Litigation, Chapter 7, Chapter 13, Creditor Harassment Defense, Debt Collection Defense, and Foreclosure law issues in Illinois.

We will discuss your case with you at your convenience. Contact us today to schedule an appointment.