Relief is on the way for Illinois families.
On August 1, 2025, Illinois passed Public Act 1738, a new law that increases bankruptcy exemptions and provides greater protection for your home, car, savings, and livelihood. These changes take effect January 1, 2026.
What’s Changing?
Protect Your Home
- Homestead exemption raised from $15,000 ? $50,000 (individuals)
- From $30,000 ? $100,000 (joint owners)
Protect Your Vehicle
- Vehicle exemption increased from $2,400 ? $3,600
Protect Your Tools of the Trade
- Exemption for work tools/books raised from $1,500 ? $2,250
Automatic Protection for Bank Accounts
- New $1,000 automatic exemption for funds in checking, savings, or credit union accounts (part of the existing $4,000 personal property exemption)
Why This Matters
These new protections mean more financial security for Illinois residents who are struggling with debt, helping families:
- Keep their homes and cars
- Safeguard essential tools for work
- Protect savings from creditors
How Borcia Adams Law Can Help (Robert J Adams & Associates)
At Borcia Adams Law, LLC, we have decades of experience guiding clients through bankruptcy and debt relief. Our team will help you navigate these new laws and use them to your full advantage.
Call us today at (847) 912-3657 or email support@borciaadams.com to schedule your consultation.
Let’s protect what matters most — your home, your family, and your future.