Articles from Aurora Bankruptcy Lawyers

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Will a bankruptcy clear up my parking tickets?

Submitted by Anonymous (not verified) on Fri, 05/17/2013 - 02:16

Parking tickets sound like a debt that you could easily eliminate, right, because it’s just a bill for a parking ticket.  You didn’t purchase anything.  It sounds like it’s unsecured.  There’s no property they can take back or repossessed if you don’t pay.  However, parking tickets are a fine to the government or municipality and by that fact, they are determined to be non-dischargeable.

Can I purchase a home once my bankruptcy case is over?

Submitted by Anonymous (not verified) on Thu, 05/09/2013 - 20:08

Purchasing a home, obtaining a mortgage, financing for a house is definitely available after a bankruptcy cases filed.  The typical time period that one has to wait to qualify for a decent mortgage is two years.  If you can wait two years, you’re going to have a decent down payment hopefully and you are going to get a decent rate.  Now, your rate is not going to be as good as someone who had perfect credit and who never had to file for bankruptcy.  However, you can start with a halfway decent rate two years after filing your bankruptcy and then look to refinance a year or two or three down

Can I keep my car during a bankruptcy?

Submitted by Anonymous (not verified) on Sat, 05/04/2013 - 01:33

There are certain situations where cars cannot be kept during a bankruptcy.  However, in the overwhelming majority of Chapter 7 bankruptcy cases, individual debtors keep the car that they have either by continuing to make financial obligation payments or continue to lease the vehicle.  In other cases, if the vehicle is paid in full, if it doesn’t have significant value, then the property is exempt and free and clear from the long arm of the trustee.  In a Chapter 13 case, the debtor has the option of either keeping the vehicle and paying for it through the Chapter 13 or surrendering the veh

How do I qualify for Chapter 7?

Submitted by Anonymous (not verified) on Fri, 04/26/2013 - 16:38

There are two prongs that have to be satisfied for Chapter 7 for the most part.  Firstly, you must be either under the median which is the dollar amount per family size that the government has set; or if you are over that median, you must pass the means test which is a mathematical formula based on all of your income and expenses, showing that you don’t have the ability to repay your creditors over time.

When could I apply for a credit card?

Submitted by Anonymous (not verified) on Sat, 04/20/2013 - 21:10

Once your bankruptcy case is filed, you have the ability to apply for and acquire a credit card.  Lenders have gotten pretty aggressive these days with soliciting people after filing a bankruptcy for credit.  One of the reasons why creditors do this is that they know that you cannot file another fresh start Chapter 7 bankruptcy case for eight years from the date of filing your current case.  Plus, the creditor is hoping that you will use the card, pay the annual fee, pay late fees, pay interest fees and basically go into the same bad habits that might have gotten you into debt in the first

Can I get my car back after it’s been repossessed by filing bankruptcy?

Submitted by Anonymous (not verified) on Thu, 02/21/2013 - 02:23

If you file a Chapter 13 prior to your car being sold at auction for sale, then you do have the ability undercurrent Chapter 13 bankruptcy law to recover your vehicle.  Now, the lender has the right to immediately bring a Motion to Modify the Automatic Stay to avoid the bankruptcy if you are not adequately protecting that creditor, if you don’t have valid auto insurance on that vehicle naming the lien holder as a loss payee or if any other requirements of the Bankruptcy Code are not satisfied to the point where the lender can bring a motion to avoid the bankruptcy and either repossess the v

Recommending Chapter 7 Bankruptcy For John Zales

Submitted by Anonymous (not verified) on Wed, 02/06/2013 - 17:28

This is the case of John Zales who comes to me from Brookfield, Illinois which is located in Cook County.  John is interested in a Chapter 7 fresh start bankruptcy.  He has never filed for bankruptcy before.  He does not own any real estate.  He is currently renting from a landlord in Hodgkin’s, Illinois.  It is a month to month lease.

Do I have to list my car or second property even though I own it outright?

Submitted by Anonymous (not verified) on Tue, 02/05/2013 - 16:10

You must list everybody that you owe and everything that you own on a bankruptcy petition.  It doesn’t matter if the item is paid in full or if there’s money owed on it or if you have a partial interest, if you have any interest or owe any money or even if it’s paid, you must list all of your property.

If I file for bankruptcy, can I get my license back?

Submitted by Anonymous (not verified) on Thu, 01/31/2013 - 00:44

Many times licenses are suspended for parking tickets, for child support, for driving without insurance.  These suspensions can be lifted during a Chapter 13 bankruptcy, during the 110 days of your case.  Now, this is not a lot of time to repay the debt; however, it does unfreeze the suspension, give you the opportunity to drive and an opportunity to work out some type of installment payment plan prior to your case coming to a conclusion.

What information should I bring to the first interview?

Submitted by Anonymous (not verified) on Fri, 01/25/2013 - 14:35

In short, you should bring as much information as you have.  The more information that you can give your attorney at the first interview; the more complete of a consultation they will be able to give you.  Some important things to bring are your bills, especially medical bills and pay day loans because those often won’t appear on a credit report; paycheck stubs because people often don’t understand what they are actually bringing home.  And tax returns.

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