Peter Francis Geraci A Bankruptcy Blog - Chapter 7 & 13

An Indiana man filed a Chapter 7 Bankruptcy with Peter Francis Geraci and Geraci Law Attorney John Allman because of overwhelming medical bills and student loans. After earning his GED, he became homeless and unemployed.

Because of diabetes retinopathy and the inability to afford necessary medical treatment, his vision started to deteriorate and he was diagnosed as legally blind at 31 years old. He started receiving Social Security Disability benefits as his only source of income. He has been unable to find work because of his disability and he met with Attorney John Allman at the Geraci Law Indianapolis location.

Attorney Allman listed American Education Services and Sallie Mae as creditors on the bankruptcy petition. Attorney Allman filed an adversary proceeding on his client’s behalf arguing the student loan debt should be dischargeable in a Chapter 7 bankruptcy because of the undue hardship. The total amount owed in student loans was approximately $34,000. 

Student loans are not generally dischargeable in a bankruptcy filing. Attorney John Allman was successfully able to argue that the student loans imposed an undue hardship. The Indiana man could not meet his basic living needs on his fixed income and could not work because of his disability.

Without the above and beyond work by Geraci Law staff and Attorney John Allman, the Indiana man would have been left with a fixed income of less than $950 per month and over $34,000 in debt.

Experience matters when finding a bankruptcy attorney. Knowledge of complicated bankruptcy issues is the reason to hire a Geraci Law attorney.  Peter Francis Geraci and Geraci Law attorneys hold weekly meetings to keep current on bankruptcy issues.

One Illinois law firm tells debtors they can discharge parking ticket debt in a Chapter 7 bankruptcy. This is not true. After a Chapter 7 is discharged, a person will still owe the debt and can face driver’s license suspension. Parking tickets, toll way violations and red light violations should be discharged upon completion of a Chapter 13 bankruptcy.

Another Illinois attorney filed a Chapter 13 that was ultimately dismissed. The same attorney filed another Chapter 13 after the first dismissal. He filed a claim for unpaid fees from the first case – acting as creditor and attorney. This attorney extended the payment plan to five years when the person could have been in a three year plan.

He claimed the reason was to allow the person to retain their driver’s license because of significant parking ticket debt. The attorney either did not know parking tickets can be discharged in a Chapter 13 or wanted to collect more fees in the current case and the failed case. Either way, you probably would not want to be represented by an attorney who does not understand the law.

Peter Francis Geraci and Geraci Law attorneys only give correct information to their clients. Geraci Law attorneys will not put you in plans that are longer than necessary.

Chapter 13s will not stop license suspensions if caused by traffic or moving violations. Some Illinois bankruptcy law firms will tell debtors otherwise. Peter Francis Geraci and Geraci Law only give correct information to clients. A filed Chapter 13 bankruptcy will not discharge moving or traffic violations.

A filed Chapter 13 bankruptcy WILL stop a license suspension for parking tickets and toll way violations. Most cases can be filed in as little as a day for a little as court costs! A Chapter 7 bankruptcy can discharge other unsecured debt allowing you to work out a payment plan for the traffic fines.

Call us today for your options and information to protect your driver’s license and to get out of debt!

Unpaid Cook County parking tickets can result in a suspended driver’s license, tremendous late fees and lost state tax refunds. The city can collect on tickets from the past 18 years and can take any Illinois state tax refund as payment.

In most cases to qualify for a payment plan, the City of Chicago requires a $750 deposit or 50% of the parking ticket debt (whichever is greater). To protect your driver’s license and state tax refund – file a Chapter 13 bankruptcy!

Peter Francis Geraci and Geraci Law attorneys file Chapter 13 bankruptcies for as low as $281. You can consolidate parking tickets with other debt in an interest-free repayment plan. A case can be filed in as little as one day and a suspension can be lifted in as little as one day!

Geraci Law headquarters are located at 55 E Monroe – right around the corner from the Secretary of State. You can meet with a Geraci Law attorney, file a bankruptcy petition and visit the Secretary of State to reinstate your driver’s license.  

An Illinois woman fell behind on a car payment while she was on maternity leave. She needed her car for work and the vehicle was on the “repo list.” Between childcare and work, she struggled to find time to meet with a bankruptcy attorney.

She had a small window to meet with a Geraci Law Attorney – she needed a time where she had a babysitter and a time before the car was repossessed. The appointment was set before the Calumet City/River Oaks Mall location opened. Geraci Law Paralegal Anna Morowczynski was also waiting for the office to open and helped the woman expedite her meeting with the attorney.

With the help of staff at the Geraci Law Chicago headquarters, Anna was able to prepare the bankruptcy petition for Attorney Salvador Gutierrez’s review. Anna helped the client take the required credit counseling class in the parking lot. Attorney Gutierrez arrived, met with the woman, reviewed the plan and was able not only to file her case but lower her car payment in the Chapter 13 plan! The woman was able to leave for work on time allowing Attorney Gutierrez to stop the repo man.

Around the holidays, everyone is stressed and meeting with an attorney should not be. Geraci Law staff can accommodate almost every scheduling issue!

A Round Lake Illinois couple met with Geraci Law Attorney Jason Nielson about filing a bankruptcy to help with credit card debt. The couple got behind after a failed loan modification. After meeting with Attorney Nielson, the couple discovered a bankruptcy could stop the pending sheriff sale on their home.

Attorney Nielson and the couple calculated out the Chapter 13 bankruptcy payments. Ultimately, the couple decided the payments were not affordable but wanted to delay the sheriff sale as much as possible. Attorney Nielson filed a Chapter 7 bankruptcy to eliminate the credit card debt and obligation to the mortgage deficiency the night before the house was scheduled to be sold.

When a sheriff sale is scheduled, the county sheriff’s office must be notified as well as the foreclosure attorney.  Before court, Geraci Law Attorney Darron Burke drove to the Lake County Sheriff’s Office where the sales are held and hand delivered all documentation to stop the sale.

Even though a Chapter 7 bankruptcy is not the long-term solution to foreclosure, the couple was given more time in their home. Geraci Law Attorneys Nielson and Burke went the extra step to stop a sale and give the couple more time.

After the housing market crashed (and burned), homeowners were left with little equity, less income and in most cases – more debt. Many homeowners filed bankruptcies with Peter Francis Geraci and Geraci Law when the economy tanked. Even after a foreclosure and a bankruptcy, these homeowners can qualify for a mortgage!

Homeowners will not qualify for an FHA loan until three years after a foreclosure. Freddie Mac and Fannie Mae loan qualifications can take as long as seven years post-foreclosure. Homeowners who filed a Chapter 13 bankruptcy repayment plan can qualify in as little one year after receiving discharge.

Filing bankruptcy can eliminate and give you an opportunity to reestablish credit. By eliminating the unsecured credit obligation every month, you can save money! After a few short years, you can use the savings for a down payment on a new house.

If you have debt, have a house in foreclosure or want to see your bankruptcy options – call Geraci Law.  You can eliminate the credit card debt, live free in the house until a sheriff sale and qualify for a new mortgage in a few short years.

Peter Francis Geraci and Geraci Law have opened new bankruptcy offices! If you are in debt and looking for relief, there is a Geraci Law office close to you. Our experienced attorneys are available evenings and weekends. Please call to schedule a time to get out of debt and visit us at one of our new locations in:

Waukegan

2504 Washington Street – we are next to the Bertrand Bowling Lanes.

Bolingbrook

498 W Boughton Street in Suite 101 – at the corner of Schmidt and Boughton.

Westchester

927 S Manheim Road – across from Target

Chicago

4401 W 63rd Street - at the corner of 63rd and Kostner.

Skokie

5225 Old Orchard Road - west of Old Orchard Mall, across from Ruby Tuesday.

The idea someone can be judgment proof is a myth. Many will say someone on Social Security or a fixed income like unemployment are judgment proof but fail to give the advice to show up at court dates. A missed appearance at a court date could result in jail time, not for failing to pay the debt, but for failing to comply with a Court order to appear. 

A judgment is entered and the creditor may not be able to garnish you immediately. But judgments can remain for years, and can be renewed, if the creditor takes proper steps. If you are unemployed now, that does not mean you won’t eventually go back to work. A potential garnishment could be waiting for you on your first paycheck.  A creditor can also bring you in for a citation to discover assets to find a way to get paid. Each time you are summoned to court, you will be charged with court costs.

The solution to overwhelming debt and creditor harassment is filing a bankruptcy with Peter Francis Geraci and Geraci Law.  A Chapter 7 will discharge your obligation to the bills and protect you in the future from lawsuits and collections.  Or if you have assets to protect, or want to pay back your creditors, a Chapter 13 may be the right option for you. 

Meet with a Geraci Law attorney to go over ALL your options and be given the truth.  Geraci Law Attorneys offer affordable payment plans for any kind of income.  Instead of dodging phone calls, call for a bankruptcy consultation with Geraci Law. You can finally feel relief!