An Illinois Scheduling Order is a court-ordered document that sets forth the payment plan for a debtor in the state of Illinois. It outlines the repayment structure of a debt, including the amount to be paid, the payment frequency, the payment date, and any other applicable terms and conditions. There are three types of Illinois Scheduling Orders: Chapter 13, Chapter 7, and Chapter 11. The Chapter 13 Scheduling Order is used to reorganize a debtor’s finances and repay debt over a period of time. The Chapter 7 Scheduling Order is used to liquidate a debtor’s assets and distribute the proceeds to creditors. The Chapter 11 Scheduling Order is used to restructure a business’s debt and reorganize its operations. All three types of Scheduling Orders are issued by a court and are legally binding documents.
Illinois Scheduling Order
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