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Effective January 1st, there is new help for Chapter 7 debtors who owe money to the City of Chicago for parking tickets and related fines. A new Ordinance, sponsored by Mayor Emanuel provides in part that:
Payment Plan:
An eligible bankruptcy debtor may establish a payment plan to repay fines that were incurred within three years of the Chapter 7 bankruptcy filing. These fines will be reduced to the principal only and can be paid over a series of 6-12 months.
Waiver of Fines & Penalites:
If the debtor completes the payment plan and receives a discharge in bankruptcy, the City of Chicago will waive any fines, penalties and fees that were incurred more than three years prior to the Chapter 7 filing date.
To learn more about your rights and opportunities under this new Ordinance, please call the office of Attorney David M. Siegel at (847) 520-8100 or (773) 276-6969. We can discuss your matter over the telephone or in person without charge or obligation.
