Leuer Law Law Office of Alisha D. Leuer-Arce
                        Leuer Law     Law Office of Alisha D. Leuer-Arce

Bankruptcy Overview

Bankruptcy Law allows individuals who are in financial distress to either eliminate most or all of their debt under Chapter 7 Bankruptcy, or to pay back a certain percentage of the debt in a Chapter 13.



Chapter 7 is commonly used when an individual makes little or no money and does not have many assets.



Chapter 13 is beneficial for individuals who do not qualify for a Chapter 7 based on the individual's income or because they have a substantial amount of assets that cannot be protected in a Chapter 7. A Chapter 13 is also proper for someone who is trying to save their house or vehicle.


THE AUTOMATIC STAY (and what it means to you)

The automatic stay HALTS any lawsuit, wage garnishment, or any attempt to collect a debt against you. Creditors will no longer be calling you multiple times a day trying to get you to pay. It is a violation of the Federal Bankruptcy Code for any creditor to contact you once your bankruptcy has been filed. If a creditor persists, sanctions can be taken against him or her.



Exemptions are used to help protect your real and personal property when filing bankruptcy. Any unprotected assets is part of the bankruptcy estate and can be liquidated by the Trustee. In a Chapter 7, if all of your assets are protected, there is NOTHING to distribute to the Creditors. The following is a list of the common Illinois Exemptions.

Homestead - $15,000 for Individual Debtor and $30,000 for Joint Debtors

Vehicle - $2,400 for an Individual Debtor and $4,800 for Joint Debtors 

Wildcard - $4,000 per person

Personal Injury - $15,000

Worker's Compensation - 100% Exempt

Qualified Retirement Account - 100% Exempt


For more information, please click on the link to the left to learn more about the different types of bankruptcies.

Contact Information

Leuer Law

25 N. River Lane

Suite 25443

Geneva, IL 60134




Phone: (630) 210-8175


Fax: (866) 753-0710


E-mail: info@leuerlaw.com 


Please click the below link to contact the office or make an appointment.


"We are a debt relief Agency. We help people file for relief under the bankruptcy code."


The services or benefits are with respect to bankruptcy relief
under Title 11 of the United States Code.



Nothing on this page is to be construed as legal advice, for informational purposes only.


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