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IRA Exempt From Debt Collection, Ill. Appeals Court Rules

Law360 (April 10, 2018, 6:59 PM EDT) -- An Illinois appellate court on Monday reversed a trial court’s finding that a man’s IRA was not exempt from being included in a debt collection, writing in its opinion that the collecting bank’s brief was written so carelessly that the appellate panel had no choice but to strike it.

The state’s Second District appellate court reversed a DuPage County judge’s ruling finding Richard Nelson’s IRA accounts were subject to collection on a debt he incurred when he and two others took out $836,400 in loans from...
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