Most of us think of parking tickets as an expensive inconvenience — like costly bird droppings that fall into our lives and ruin our days. While we all dread seeing the loathed orange pamphlet stuck underneath our windshield wipers, for some, parking tickets can be financially devastating. Those people who unable to get out from under Chicago parking ticket debt often turn to bankruptcy.
Cook County is seeing a significant rise in bankruptcies for which Chicago’s Parking bureau is listed as a creditor. One Chapter 13 trustee said those listing parking tickets as a significant factor account for nearly half of all bankruptcy filings in Cook County. This comes as a shock to those following the industry as well as the hapless individuals whose financial lives have been torpedoed by parking tickets.
Filing for Bankruptcy
Despite the grisly news discussed above, bankruptcies have decreased over the last few years since the housing market stabilized. Filing for bankruptcy can be a stressful and confusing process. Chapter 7 bankruptcies (where creditors are not repaid) may only be filed once every eight years. Chapter 13 bankruptcies (where there is a repayment plan for some debtors) may be filed once every six years. Both procedures cost roughly $300, so access to these proceedings, while not astronomical, are not free.
Let Us Help You
If are the unfortunate victim of death by a thousand cuts (parking tickets, medical bills, credit card debt), we can help you. No one should be unable to put food ont he table because of a parking infraction or two. Every day our top-notch bankruptcy attorneys help people navigate the complex bankruptcy process in Chicago and embark upon a new financial beginning. It can be scary to take that first step to call and ask for help, but most of the time people feel substantially better once they do. Chicago is an expensive place to live, and many times creditors are without empathy or mercy for those they harass. Once you file for bankruptcy, though, those relentless creditors are no longer able to harass you. We have legal professionals standing by 24 hours a day, seven days a week. Please contact us to set up a free consultation. We serve clients in the Arlington Heights, Palatine, Rolling Meadows, Libertyville, Mundelein, Buffalo Grove, Schaumburg, Elk Grove, and Itasca areas.
(image courtesy of bernard hermant)