Author: John Senese

The Chicago “Fibune” is still printing worn out recycled nonsense from self-styled “financial expert” Terry Savage.  This time, Savage (and she has a picture there from 40 years ago) is telling senior citizens who can’t handle their debt to go to an operation called “Debt Counsel for Seniors and the Disabled.” What is that?  It’s good old Jerry Lamet, who gets old people in under the guise of “helping them face the terror of losing their exempt Social Security funds. The game is that he’s talking about their credit report, and how negative items stay on for seven years, and the bankruptcy stays on for 10 years, like it some big deal to us 75-year-old who is being sued by a creditor. He then gets them to pay them $125-$250, and then he claims as low as $25-$30 a month, and what he does for that is tell creditors that they can’t call on the telephone.

Jerry used to be a government lawyer, and then he quit, and became a creditor lawyer, now he sucked up with some lawyer in Florida telling seniors not to file bankruptcy, but to pay him at least five or $600, and then get them hooked up on a monthly thing so that they stay in debt. That’s pretty weird because in Florida, bankruptcies don’t cost much more than that, the lawyers their living on half pay and half sunshine, just like all the old retired people. In addition Florida is the state that provides huge bankruptcy exemptions. Terry Savage and Jerry LaMotte, however are publishing newspaper articles that make it seem like seniors have something to gain by staying in debt. It’s only Terry Savage and Jerry that are gaining by them staying in debt.

On top of it, it sure looks like to me that Jerry’s trying to pick up Social Security disability and fair debt collection act violation cases from these seniors. Most lawyers don’t charge anything if somebody has such a violation, but with the monthly payment plan, you have to wonder what’s really going on. The website claims that have “helped” 14,000 people since 1998. If old Jerry got 750 bucks from each one, he’s collected a cool $10,500,000. Now, 1998 is an eon ago, 18 years. That’s only $583,333.33 a year. From the website it looks like it’s just Jerry and is friend in Florida, and about 10 clerks. But even with 12 people working that’s only about 60,000 a year gross, so there must be a heck of a lot of money coming in from Social Security disability and fair debt collection action practices cases.

Thanks a bunch Terry and Jerry. And thanks a bunch for viewing with your half-baked information. Maybe you should get another of your half-baked reporters like little Kim from Australia to tell only half the story. Kim sure caught his lunch from Tony Preckwinkle when he misquoted or and maligned her in his goofy gossip column. And thank you very much, Fibune, for your bizarre nonfactual reporting today about the 56-year-old from the suburbs who got his brains blown out in front of the face fountain at Monroe in Michigan. You even write in the story that it was outside millennium Park. Sure, by 3 feet. And then you make up a bunch of nonsense about a “person of interest”. When in should just tell us what the gunmen looked like, why he was on a bicycle, why he was without a woman who attacked the dead guys sister when she tried to grab him, why this sister would ask you try to grab a guy who had just blown her brothers brains out at 7:30 PM in the crowd of tourists, or something else interesting. But no, you put a story by Terry Savage on the right-hand column, and waste 20 inches of press on a bunch of nonsense. No wonder your newspaper is busted.

Note to Terry and Jerry: seniors who are in debt benefit greatly by filing a bankruptcy. You try explaining to a sheriff’s deputy and a flak jacket who’s serving you with a summons to appear in court that your Social Security is exempt. You try to get a parking place at the Bridgeview or Maywood courthouse to answer a summons on a debt that you don’t all. You’re way better off filing a bankruptcy case when it gets to this point, especially if the debts are collectible. And what is this nonsense about the credit report. Senior should not be worried about their “credit report”. It’s just another trick by Terry Savage to get them back into debt so that creditors call them with debts they can’t pay, so that Jerry can tell the creditors not to call it even says on his website that he can’t protect them against a court lawsuits. That’s what you get when you tell a creditor to shove off. They sue you.  Seniors are poorly served by this kind of weird “legal advice”.  Terry Savage is not the friend of senior, nor is Jerry. This article is just another example of deliberate misinformation by the Tribune for no good reason. Perhaps there is a reason: not enough car dealers are buying ads in your paper and you have to fill it up with something.

Posted by Heather 9/17/2016: “I was in deep financial trouble and needed help to get out of debt. I wanted to make sure that I had an attorney working with me that could handle my complicated situation. At Geraci Law Offices, Attorney Alex George did not just handle my case, he explained information so that I would understand what was happening. He walked me through everything, step-by-step. Everyone I talked to at Geraci Law Offices was friendly, knowledgeable, and more than willing to help answer my questions. This relieved my stress and helped me move forward, knowing I was in good hands and being taken care of.”

 

Posted by Samuel 9/17/2016: “Hi, I wanted to just share a little about our experience with bankruptcy and how Peter Francis Geraci’s lawfirm helped us. I have to say that the experience was quick, and easy. We hired our attorney at our first meeting. My only thing I did not like that for our second appointment we had a different attorney. He was good as well, but we had already explained our situation to the first attorney only to have our file handed over to someone else, felt a little impersonal, but everything went very smoothly. I recently called the office to inquire about my files which are 3 years old and the person on the other line, not sure if I am allowed to share names, so I will name her “J” was super helpful, friendly and answered my questions in a timely manner. Very professional and very good customer service. Thank you”

Geraci Law has been retained in another maternal birth injury case. A Geraci Law bankruptcy client went to a Chicago hospital for her seven month checkup. Supposedly, she was diagnosed with preeclampsia and despite having a planned delivery at another hospital, the staff at this hospital decided that she needed a cesarean section.

She consented, and was hospitalized after the successful cesarean delivery to recover. In the morning, however, she was found with the IV bag empty, and stopped breathing. She was resuscitated but is now in a coma. As with any possible malpractice case, said Attorney Peter Francis Geraci, “it is a mystery until we obtain the records and get expert opinions. In this case, since the client is in a coma and any nursing home, we are pointing her husband as the guardian, so that we may obtain the records.”  Under Illinois law, the person who cannot give consent to a medical provider to release records, where there is no advanced health care directive, presents a problem.

If it was a death, Illinois law provides that the surviving spouse, or other family members, may obtain the records. The Illinois law regarding obtaining records, when a person is in eight coma, should be changed so that the records can be obtained the same as one the person is deceased.  Unfortunately, when the law was amendeded in 2011, 735 ILCS 5/8-2001.5 only allowed relatives of a deceased person to obtain records for malpractice review, or social security needs, without a formal guardianship proceeding that takes several months to accomplish.

I went to Geraci Law to file my Chapter 7 so that I would be able to get a fresh start on my finances. The staff was more than welcoming as I came in for my consultation, I was nervous and a bit embarrassed but quickly those feelings went away thanks to the Geraci team! I was assisted by Attorney Abraham P**** whom from the start knew what he was talking about. Unlike previous attorneys I had met with, Abraham gave me the honest truth on my situation and explained everything in terms that I understood he was also more than willing to answer any and all questions that I had regarding the process. I was able to review all my options and pick the solution that was in my best interest. The entire process was very straight forward and fast! I was also involved in every step and decision made as the Geraci team really strives to communicate with you so that you know all that is going on! I am very happy that I choose to work with Geraci Law as they truly helped me as well as worked with me to make filing affordable that fit my budget! I would highly recommend anyone that is struggling with debt and bill collectors to take that first step and visit the Geraci Law team!

Geraci Law has been battling Wells Fargo for years.  Today they announced a settlement of $158 million involving credit cards.  Their President, John Stumpf, never went to jail for the mortgage meltdown, and no criminal charges were brought this time either. Stumpf did fire 5000 Wells Fargo employees, supposedly.  “Maybe he should fire himself” said Geraci Law founder Peter Francis Geraci.

A few months ago Geraci Law clients, in active Chapter 13 Bankruptcy cases, received checks for Wells Fargo failing to timely perform escrow analysis on homes.  Again, Attorney Geraci corrected the Wells Fargo ship by sending all the checks to his clients.

 

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ITT Educational Services, Inc. also known as ITT Technical Institute, headquartered in Carmel, Indiana since 1969, closed all of it’s school and according to it’s website, https://www.itt-tech.edu/, is not enrolling new students.  The closing puts an end to approximately 50 years of educational activity.

ITT released a statement saying, “The actions of and sanctions from the U.S. Department of Education have forced us to cease operations of the ITT Technical Institutes, and we will not be offering our September quarter.   We reached this decision only after having exhausted the exploration of alternatives, including transfer of the schools to a nonprofit or public institution.”  You can view the entire statement here. 

What about the student loans for individuals attending?  The federal loans for individuals currently enrolled can either be discharged entirely or obtain a partial discharge, if a student elects to continue their studies at another institution.

The Department of Education’s Undersecretary, Ted Mitchell, said in a press call with reporters students have 2 options, “The first option is to have his or her federal loans discharged. Students who are currently enrolled at ITT Tech or who have withdrawn from ITT within the last 120 days may be eligible to have their federal student loans from their ITT program discharged through our closed school loan program. With their federal loan debt wiped away, students can then decide whether to restart their education somewhere new. To get started with the closed school process, students should call their loan servicer or visit studentaid.gov/ITT, which will be up and running shortly. We’ve taken care to ensure all of our servicers are providing helpful and accurate information about the closed school option to borrowers.”

“The second option is for students to continue their studies at another school. Students who are closer to completing their programs may wish to explore transferring their credits. It’s important for students to know that if they are able to transfer their credits into a similar program of study, some or all of their loans will no longer be eligible for discharge.”

ITT Tech had more than 130 institutes Nationwide, all closed, and eliminated 8,000 jobs nationwide as a result of the School’s closing.

Veteran consumer debt expert Peter Francis Geraci of Geraci Law LLC, a regional consumer bankruptcy and injury law firm, says older clients are coming in with serious debt problems.  “We are seeing 80 year old clients who haven’t paid off their mortgage or car”, he said.  “It’s sad.”   Often, family members get their elders into trouble with co-signing and helping their kids and grandkids.

Retirees are carrying more debt than in previous years.  AARP most recent report shows more than 27% of individuals over the age of 65 are carrying credit card balances after their last payment.

Pictured Above is a very young Peter Francis Geraci. Below is a signed photo from “The Greatest of All Time”. Mr. Geraci collected a few photos of Muhammad Ali and displays them in Berwyn, Evergreen Park and Oak Park.

Peter Francis Geraci Law Bankruptcy and Injury Attorneys support Genesys Works. Our Newest Intern Cynthia Marin is starting her first day at Geraci Law!

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