Illinois Bankruptcies
Watching Bankruptcies
WatchIllinois will search through thousands of Illinois Bankruptcy public records to find matching records for your Watches. If you are trying to find information on a person, a business, or a phone number that you know, WatchIllinois may be able to locate that information in Bankruptcy public records. Watching a company for bankruptcies is a great way to stay on top of your employer, a client, or a company you plan to do business with.
What are the different types of Bankruptcy?
Watch Illinois compiles Chapter 7, Chapter 11, and Chapter 13 Bankruptcies.
Chapter 7 Bankruptcy is also known as liquidation, and is an option for people and small businesses who have very little or no assets, lot of debt, and a low income. A person can file Chapter 7 Bankrtupcy once every 7 years.
Chapter 13 Bankruptcy is a payment plan that is structured to include certain debts that the debtor must repay back to their creditors in a three to five year time period. The amount paid is based off a debtor's income, not how much they ower. A Chapter 13 bankruptcy can delay foreclosure proceedings because of bankruptcy's automatic stay provisions that force creditors to be put on hold while the bankruptcy court sorts things out. However, a mortgage company is entitled to be able to apply to the court for relief from the automatic stay. Chapter 13 Bankruptcy is often an option that folks use before Chapter 7, so they may use Chapter 7 in the future if needed.
Chapter 11 Bankruptcy is used by individuals, corporations, and partnerships in order to restructure their debt. There are no limits on the debt, however, Chapter 11 is usually more expensive to the debtor, and has a lower success rate of getting approved. Most people file Chapter 7 or Chapter 13 Bankrtupcy instead of Chapter 11 Bankruptcy.
What information can be found on Bankruptcy public records?
Typical information that can be found on Bankruptcy public records includes: name, business name, address, bankruptcy type (Chapter 7 Bankruptcy, Chapter 11 Bankruptcy, or Chapter 13 Bankruptcy), property involvement, whether or not the bankruptcy was dismissed or discharged, and more.
Bankruptcy public records provide an excellent tool in finding information out about people and businesses alike. Watch Illinois will scan previously recorded Bankruptcy public records, as well as new Bankruptcy public records for the entire state of Illinois, as they are added weekly, to give you the best chance of finding the information you seek.
How far back do Watch Illinois Bankruptcy public records go?
The list below represents which Illinois counties Watch Illinois will check to find Bankruptcy public records, and also how far back the data goes.
Take a Tour Today- Boone County: Since 1996
- Cook County: Since 1999
- DeKalb County: Since 2003
- Dupage County: Since 1997
- Kane County: Since 1997
- Kendall County: Since 1997
- Lake County: Since 1998
- Lee County: Since 1996
- McHenry County: Since 1997
- Will County: Since 1997
- All other Illinois Counties: Since 2007
Understanding a Bankruptcies Record:
- Input Date: This is the date the record was typed into Record Information Services’ database. Not to be confused with the date of transaction, or date of record.
- Assets: Y for Yes and N for No
- Case or Document Number: The number that references the case.
- Property Involved: Yes or No if the bankruptcy includes property.
- Filing Date: The date the bankruptcy was filed at the US bankruptcy court.
- Do Not Call: If there is a phone number on the record, and the individual is on the Do Not Call List, then you will see a Y here for Yes.
- DNC Date: DNC is the National Do Not Call List. This is the date this phone number was last scrubbed against the Do-Not-Call List. We scrub our records twice monthly. You will only see a date here if there is a phone number on the record.
- Bankruptcy Chapter: 7, 11, or 13
- Telephone: Usually available on around 40% of records. Scrubbed against the “Do-Not-Call List” bi-monthly.
- Converted: Shows if the bankruptcy was converted from a Chapter 13 to a 7.
- Discharged: Y or N if the bankruptcy has been discharged yet.
- Discharged Date: A date will appear here if the bankruptcy was discharged.
- Converted Date: Only appears if the bankruptcy was converted.
- Census Age and Income: When selecting an income range, those numbers will reflect a median household income, not an average of the census tract area. The median age is identified by using the census block as a benchmark which does reflect a more accurate picture of a geographic area.
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