Legal Question in Credit and Debt Law in Illinois

What assests or property can a creditor take?

A creditor for an outstanding medical bill threatened to take all my assests if I didn't pay them immediately. What can they legally take? Personal property? The only income I have is Social Security Disability.


Asked on 3/28/02, 8:24 pm

1 Answer from Attorneys

Bruce Buckrop Bruce Buckrop

Re: What assests or property can a creditor take?

The Big four areas ofIllinois exemptions are Homestead $7500, automobile $1,200, personal property $2,000 and I R A's and 401-k pensions ect totaly exempt, collectors use scare tactics that are not truthful becasue they work on a commmission of 40 to 60 % of what they can beat or scare you out of, your social security check cannot be touched by them and if your personal property household goods ect(measured at auction value)leaves room for cash, then the collectors cannot get anything.

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Answered on 3/29/02, 10:42 am


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