0
Parking tickets cannot be discharged under Chapter 7 bankruptcy. They can, however, be discharged under Chapter 13 bankruptcy. Chapter 7 bankruptcy is known as "liquidation" bankruptcy. This generally means that all of a debtor's non-exempt property may be sold by a bankruptcy trustee, though the laws for property exemption are different in each state. For example, in New York, most debtors are able to keep all of their property.
Chapter 13 bankruptcy is a 'reorganization of debts', and allows the individual to keep their property and income while paying off all or part of their debt over a three to five year period. In the case of a Chapter 13 bankruptcy filing, the parking tickets can be considered "unsecured" debts (similar to credit cards and medical bills), and can thus be treated as such for repayment.
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
Can you claim bankruptcy on court fines Illinois?
Fines in Illinois can not be claimed in bankruptcy if they are derived from criminal acts, parking tickets and traffic offenses. Additionally, court ordered fines and restitution will not be discharged under Chapter 7.
Can traffic tickets be filed in a Chapter 7 Bankruptcy?
Fines for violating the law, such as traffic tickets and judgments, fall under the category of nondischargeable debts in any bankruptcy proceeding and will stay with you during and after your your chapter 7 bankruptcy.
I had traffic tickets from 7 yrs ago that were sent to collections C O of the court I filed for Chapter 7 Bankruptcy those debts were discharged under the bankruptcy do I still owe the debts?
If tickets were discharged after filing for bankruptcy then someone would not owe on these debts.
Can you protect a structured settlement in a chapter 7 bankruptcy?
Yes you can protect it under chapter 7 bankruptcy
Can you declare bankruptcy now that your first bankruptcy is discharged?
It depends on the chapter you filed under. If you filed under Chapter 7, you have to wait 8 years before filing again. If you filed under Chapter 13, you only have to wait four years.
Which bankruptcy chapter was most affected by the change in bankruptcy laws in 2005?
The most significant change to the 1978 statute concerns consumer bankruptcy under the Chapter 7 liquidation provisions.
What are the types of bankruptcy?
Bankruptcy is a court proceeding under a federal statute called the "Bankruptcy Code". The Bankruptcy Code allows persons or other entities in financial distress relief from some or all of that person's debt. Bankruptcies are administered through a separate federal court called the United States Bankruptcy Court. There are several types of bankruptcies. For individuals, the two main types of bankruptcy filings are cases under Chapter 7 or Chapter 13 of the Bankruptcy Code. Chapter 7 cases are also referred to as "liquidation" cases. Chapter 13 cases are commonly referred to as "debt adjustment" or "wage earner" cases. Individuals can also be eligible for Chapter 11 reorganization, but Chapter 11 is normally used by debtors in business or debtors with extremely high amounts of debt. Farmers can also file a separate type of bankruptcy available only to farmers under Chapter 12 of the Bankruptcy Code. The word "Chapter" is simply a reference to a chapter number in the Bankruptcy Code. Bankruptcy is a court proceeding under a federal statute called the "Bankruptcy Code". The Bankruptcy Code allows persons or other entities in financial distress relief from some or all of that person's debt. Bankruptcies are administered through a separate federal court called the United States Bankruptcy Court. There are several types of bankruptcies. For individuals, the two main types of bankruptcy filings are cases under Chapter 7 or Chapter 13 of the Bankruptcy Code. Chapter 7 cases are also referred to as "liquidation" cases. Chapter 13 cases are commonly referred to as "debt adjustment" or "wage earner" cases. Individuals can also be eligible for Chapter 11 reorganization, but Chapter 11 is normally used by debtors in business or debtors with extremely high amounts of debt. Farmers can also file a separate type of bankruptcy available only to farmers under Chapter 12 of the Bankruptcy Code. The word "Chapter" is simply a reference to a chapter number in the Bankruptcy Code.
What is the chapter 11 of the bankruptcy law all about?
The chapter 11 of the bankruptcy law permits reorganization under the bankruptcy laws of the United States of America. Chapter 11 is available to every business and to individuals, although it is mostly used by businesses.
Can a veteran's disability be garnished for chapter 13 bankruptcy in Georgia?
Chapter 13 (and all) bankruptcy is Federal Filing. And, no, usually Vets benefits are protected under bankruptcy. See an attorney familiar with these matters.
What can you filing under chapter 7 bankruptcy?
You must list all of your debt when filing for Chapter 7 bankruptcy. However, not all debts are eliminated. There are certain exceptions to discharge under the Bankruptcy Code. Your attorney will be able to advise you by looking at your total financial situation.
What is the definition of Chapter 11 bankruptcy?
To somewhat oversimplify: Chapter 11 is "reorganization" for Corporations or a business, & Chapter 13 is a very similar thing for people. Debts and life are paid off/down and things re-organized. Chapter 7 is flat-out, busted-broke bankruptcy - out of business, not a penny left.
If you owe the IRS and you are under a Chapter Thirteen bankruptcy can you taxes be taken?
Yes.
