Archives for November 2015

City Of Chicago’s Parking Ticket Relief Is Nothing Compared To Chapter 13

Debt Relief Offered By The City of Chicago Every once in a while the City of Chicago will offer a debt relief program or amnesty program with regard to parking tickets and red light tickets. The most recent version of this program is going to last from November 15, 2015 through December 31, 2015. However, the only tickets that are eligible for relief are those issued prior to January 1, 2012 which have not already been enrolled in a repayment plan with the city. This means that any tickets issued within the last three years are not eligible to be repaid through their debt relief program. Let's examine their program: the debt relief that the city is offering will eliminate penalties and + Read More

Chapter 13 Bankruptcy Judge Denies Fees: What Was The Basis?

In a recent chapter 13 bankruptcy filing, a debtor was attempting to recover his towed and impounded vehicle. The vehicle was impounded due to unpaid parking tickets owed to a village. The tow company towed the vehicle and was unwilling to release the vehicle back to the debtor. The tow company would not provide simple information such as their fax number, their local counsel or even a timeframe as to when the vehicle would be released. In fact, the tow company went so far as to say that they will only release the vehicle when they are paid. Such conduct clearly violates the Bankruptcy Code, the Thompson decision, and the spirit of chapter 13 bankruptcy which gives honest debtors an + Read More

How Bankruptcy Affects Your Credit Score

The thought of losing one’s credit cards is a terrifying idea for some that are struggling with debt.  In fact, such a fear prevents many people from actually filing for bankruptcy.  The big fear is that bankruptcy will haunt them for life and prevent them from obtaining credit in the future.  Everyone dreams of purchasing a home or purchasing a vehicle.  Filing for bankruptcy and getting a fresh start will actually put someone in a greater position to obtain credit in the future.  As I always say to quote the band Genesis, “you’ve got to get in to get out.”  Thus, you must file in order to have a chance going forward.  The short conversation listed below is from the television show Legal + Read More