Illinois Official Form 113 (expandable and calculating)

State:
Illinois
Control #:
IL-SKU-1667
Format:
PDF
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Description

Official Form 113 (expandable and calculating)

Illinois Official Form 113 (expandable and calculating) is an official form developed by the Illinois Supreme Court used to calculate the amount of child support owed in the state of Illinois. This form can be used by individuals filing for child support or by court personnel calculating the amount of child support a parent must pay. It is an expandable form that adjusts the amount of child support owed based on the income of the parents, their number of children, and other factors, such as the amount of time each parent spends with the children. There are three types of Illinois Official Form 113 (expandable and calculating): Form 113 N, Form 113R, and Form 113A. Form113INNN is used to determine the amount of child support owed by a non-custodial parent; Form 113R is used to calculate the amount of child support owed when both parents are receiving public assistance; and Form 113A is used to determine the amount of child support owed when both parents are receiving income other than public assistance.

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FAQ

In a chapter 13 bankruptcy, you attempt to repay your creditors instead of liquidating your assets. You propose a repayment plan to make payments to creditors over 3-5 years. If your current monthly income is less than the state median income for the same household size, the plan will be for 3 years.

Although a Chapter 13 bankruptcy stays on your record for years, missed debt payments, defaults, repossessions, and lawsuits will also hurt your credit and may be more complicated to explain to a future lender than bankruptcy.

A chapter 13 bankruptcy is also called a wage earner's plan. It enables individuals with regular income to develop a plan to repay all or part of their debts. Under this chapter, debtors propose a repayment plan to make installments to creditors over three to five years.

A Chapter 13 petition for bankruptcy will likely necessitate a $500 to $600 monthly payment, especially for debtors paying at least one automobile through the payment plan. However, since the bankruptcy court will consider a large number of factors, this estimate could vary greatly.

The Minimum Percentage of Debt Repayments In A Chapter 13 Bankruptcy Is 8 To 10 Percent.

The majority of debts discharged in Chapter 13 bankruptcy are nonpriority unsecured debts. Credit card balances, personal loans, medical bills, and utility payments fit here. Often, the Chapter 13 plan will not provide for enough money to pay all nonpriority debts in full.

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Illinois Official Form 113 (expandable and calculating)