Peter Francis Geraci A Bankruptcy Blog - Chapter 7 & 13

Peter Francis Geraci Answers Your Debt Questions

The latest scam is "Debt Resolution". This is a fraud where some entity with a trade name advertises that they will "help you settle your debt without bankruptcy" Lawyers have been getting into the fraud business by collecting thousands of dollars from thousands of clients, and doing nothing. In a short period of time, according to Internet reports, one law firm has accumulated over $8 million in money taken from unsuspecting, usually elderly, clients, without ever meeting them or settling one debt. Peter Francis Geraci has seen these cases when clients come to his law firm, Geraci Law LLC, having lost thousands and being refused a refund. The proper procedure is to report all attorney debt settlement frauds to the State Disciplinary Commission and the State Attorney General, and to list the money paid on the bankruptcy petition so that the Bankruptcy Trustee and Justice Department can take action to recover it. Beware of attorneys that offer "debt resolution".

As the boomer population ages, they are filing bankruptcy in increasing number. According to a recent study published n the ABI Journal, the greatest increase in bankruptc filers are those over 55. Since 2007, those aged 55-64 have increased by 65.2%, and over 65 by 54%. These cases require more analysis, since older filers tend to have homes, pensions, marriages, divorces and more complicated financial situations. They are under greater strain caused by decline in home values and job loss. Peter Francis Geraci has directed all attorneys and staff to realize that older filers need more patience and attention, and has added staff to provide these services at Geraci Law LLC to an aging, and increasingly debt-ridden, population.

In July,2010, Geraci Law added 5 more attorneys. In November, 2010, 5 more. The Geraci Law LLC bankruptcy practice serves over 10,000 new clients a year, and is growing by over 10% a year. We have added staff in Illinois, Indiana and Wisconsin to better serve our clients.

Bankruptcy Filings continue to increase and along with the increase, Peter Francis Geraci clients have increased. Geraci Law LLC market share in Illinois and Wisconsin is at an all-time high. Geraci Law is the largest bankruptcy filer in Chicagoland and Northwest Indiana, and the largest filer of Chapter 13 Debt Repayment Plans in Milwaukee and Southeast Wisconsin.

Peter Francis Geraci has attended or taught over 70 hours of continuing legal education in bankruptcy over the past year. In addition to lecturing for the National Business Institute on topics such as Ethics in Bankruptcy, he has authored numerous Continuing Legal Education seminars certified by the Supreme Courts of Illinois, Wisconsin and Florida for credit toward mandatory legal education. Topics such as Exemptions for Assets, Tax Issues in Bankruptcy, Real Estate Issues in Bankruptcy, Ethical Issues in Bankruptcy, and When to Accept or Reject a Case have been recent in-house presentations. Geraci Law LLC Attorneys receive free continuing legal education on a variety of topics, on a regular basis.

Testimonials are usually posted by attorneys to make themselves look good. No one posts messages from unhappy clients. But Peter Francis Geraci firm staff are always pleased when clients tell them they are satisfied with their services. So Geraci Law LLC attorneys and staff always share "Happy Clients" on the firm's intranet, and appreciate it when clients tell them they did a good job, and made their lives better.