Eliminate Your Tax Debt by Filing for Bankruptcy
Theodore M. McGinn and Timothy M. Hughes • January 12, 2023
 
 In this video, Lavelle Law Managing Partner Ted McGinn and Shareholder Timothy Hughes wrap up their series on taxes by discussing bankruptcy as an option for eliminating a tax debt. They explain what requirements need to be met and outline the advantages and disadvantages of using this tactic.
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The Illinois General Assembly enacted Public Act 1738, amending several provisions of the Illinois Code of Civil Procedure to raise debtor exemption limits effective 1.1.26. The new law provides expanded protection for residents, marking the most significant increase to the state’s exemption statutes in over a decade.
 
  

The 2025 Lavelle Law Charities Food Drive benefiting the Schaumburg Township Food Pantry has begun! Join us in our efforts to bring food, dignity, and hope to residents in need who rely on the food pantry. The need is greater than ever this year, as the food pantry serves over 1,300 households each month!
 
  








