Uncategorized – Bankruptcy Attorney News – Peter Francis Geraci Law, call us at 800 CALL PFG

Can I file bankruptcy without my spouse or partner?

Below is an article from Attorney Peter Francis Geraci. Read more articles @ https://www.infotapes.com/articles

My spouse has separate bills from mine, I don’t want my bankruptcy to affect their credit score.

What if wife has $40,000 in credit cards (minimum payment $1000 a month for next 30 years if she never uses them) and a car loan in her name. She makes $60,000, and so does her husband, who has no bills except a car in his name only. So the household income is $120,000.00. Can the wife file her own bankruptcy and not affect the husband?

Answer: Yes if she wants to pay the credit cards with no interest at $800/month for 54 months or less. The answer for Chapter 7 is also Yes if she has kids from a previous marriage, files her own tax returns, and doesn’t keep joint accounts with the husband. But for Chapter 7, if she files jointly with husband, has no kids or they have one together, they “mingle” their income as well as expenses, so she probably does not qualify for Chapter since the “mingled” or “joint” income is $120,000, above the median income for a family of 3, because President Biden and Senator Grassley got a “Means Test” enacted into bankruptcy law. That says “if you have the “means” to pay your debt, you should”. Geraci Law is expert on the “Means Test”.

But either way, whether she chooses a Chapter 13 filing on her own so she can be done in a little over 4 years, and not 30 just paying minimums, her filing does not affect her husband because they have no joint debts.

When a spouses or domestic partners have “high” income, over $100,000, they usually have joint debts, filing IRS together, and benefit from a joint Chapter 7, or Chapter 13. Geraci Law has a large practice involving “high” income households, and can advise you of your “get out of debt” options.

Can you keep your filing a “secret” from your spouse or partner? Not a good idea, if you are afraid they will “find out” you should just pay your debts.

Dial 1-800-CALL-PFG for a free phone mini-consultation, or make an appointment online 24/7 at www.infotapes.com. Bankruptcy laws are in place to help you. Who knows bankruptcy like Geraci Law? Geraci Law has 35,000 5-star reviews since November 2016!

Read ALL ABOUT DEBT RELIEF at www.bankruptcybookbypeterfrancisgeraci.com.

New Year, New Start with Geraci Law

New year, new start – fresh start for debt. This is what we do – we help folks BREAK the cycle of debt for a better path forward. We’re nice people helping nice people use federal law to get a handle on their debt. If you are ready for a fresh start, call us.

Read ALL ABOUT DEBT RELIEF at www.bankruptcybookbypeterfrancisgeraci.com.

Overwhelmed With Debt?

If it is, Geraci Law is here for you. Are you ready to eliminate the heavy burden of debt? Call us – we’re here to HELP! It’s as simple as 800 CALL PFG (800.225.5734) or check us out online at www.infotapes.com

The burden of debt affects both mental and physical health. You get stuck in a circle where you are paying your minimum payments only to use the credit again because your cash is gone. Geraci Law can help STOP the cycle.

Fill out an inquiry online, our Geraci Law staff will CALL you – it’s a free consult.

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Geraci Law – 5 Star Law Firm

At Geraci Law – we taken tremendous pride in doing great work for our clients. Our goal is a debt free future for our clients and creating a path forward. We love our client reviews, check them out @ https://www.infotapes.com/geracireviews

There is a PFG Difference – find out more by calling 800 CALL PFG (800.225.5734).

Read ALL ABOUT DEBT RELIEF at www.bankruptcybookbypeterfrancisgeraci.com.

Firmsgiving

On 11/30, Geraci Law celebrated Firmsgiving – we are so thankful for our clients and appreciate the hard work of the Geraci Law staff. We’re here to help change lives for the better – on Firmsgiving, we accomplish this with full bellies!

Read ALL ABOUT DEBT RELIEF at www.bankruptcybookbypeterfrancisgeraci.com.

Happy St. Patrick’s Day!

Bad luck with debt? Need a fresh start? Geraci Law is here for you.

Read ALL ABOUT DEBT RELIEF at www.bankruptcybookbypeterfrancisgeraci.com.

So What is A Chapter 13?

Chapter 13 can consolidate your debt based on YOUR budget rather than the terms dictated by the creditors. It’s one payment that is affordable to Y-O-U.

And – why would it help me?

Chapter 13s are often misunderstood. Some debt consolidation schemes may advertise paying back your debt to AVOID bankruptcy. You pay one payment for an estimated amount of time to creditors. Sounds great right?

What we have seen, most people who attempt debt consolidation end up filing for bankruptcy because some creditors or banks may NOT negotiate or settle. You are paying a monthly fee to a company only to find the monthly payment is not paying down the debt but rather the fee. If you owe thousands in debt, it could take YEARS and THOUSANDS to be able to pay down balances.

Unlike debt consolidation, creditors do NOT get a choice of negotiating in a Chapter 13. You use federal law to get help with your bills. Chapter 13 can consolidate your debt based on YOUR budget rather than the terms dictated by the creditors. It’s one payment that is affordable to Y-O-U.

If you are working full time or have a steady source of income and want to pay your debt, filing a Chapter 13 could be a great option. Rather than paying minimums only to use the credit again, you actually pay off what you can afford.

Check out the excerpt below from Attorney Peter Francis Geraci’s, “Complete Book on Bankruptcy.”

All your credit can be paid with one payment to the Court trustee, if you qualify for a Chapter 13 plan. It is possible to consolidate all your outstanding bills into one lower monthly payment, and be protected from credit action during the time you make your payments.
Chapter 13 plans usually run from 3 to 5 years. You can get a rough idea of your maximum Chapter 13 payment by adding up all your bills, dividing by 36 to 60 months. Add 10% to the monthly payment, and the total would be your Chapter 13 payment. This is an over-simplification, and your payment could be less, but this is the basic idea.
Usually, there is no further interest paid to creditors under a Chapter 13 plan. Exceptions to this are cases where you are paying for a house or for a car, or when the creditors could get all their money immediately if you were to liquidate your assets.

A Chapter 13 bankruptcy is an amazing resource available to people simply struggling. Geraci Law will file the case for no-money down and you get the immediate relief and time to pay down your debt.

Read ALL ABOUT DEBT RELIEF at www.bankruptcybookbypeterfrancisgeraci.com.

Geraci Law Lansing Illinois Opening SOON!

Geraci Law in Lansing, Illinois is opening soon. Schedule a time to meet with a LOCAL attorney in person! We are located at 17839 Torrence Avenue in Lansing. We are between 178th and 179th, past the Walmart. GREAT parking in the back of the building.

Check out our new office. We look forward to helping the folks in Lansing, Chicago Heights, Glenwood, Calumet City and South Holland. Schedule an appointment with us by phone or online @ https://www.infotapes.com/

New Lansing, Illinois Office!

Read ALL ABOUT DEBT RELIEF at www.bankruptcybookbypeterfrancisgeraci.com.

Geraci Law Attorneys in South Bend!

Geraci Law Attorneys visit South Bend, Indiana to attend Continuing Legal Education Seminar (CLE) hosted by Trustee Paul Chael titled, “Northern Indiana Chapter 13 Seminar.”

From left to right – Attorneys Rodney Geer, Cecil Scruggs, John Sadler, Robert Brynjelsen. Photo courtesy of PFG

Enjoying steak and sprouts at La Salle Grill in South Bend! Hungry for some knowledge on Chapter 13 Plans!

Ready to learn at CLE hosted by the Palais Royale!

Geraci Law in Central Illinois!

Central and Southern Illinois – Geraci Law is here for you! Are you buried in debt? Are you struggling to pay minimums? Do the balances just not seem to go anywhere? We’re the firm to help you figure out a solution to your debt problem.

Central and Southern Illinois – Geraci Law is here for you! Are you buried in debt? Are you struggling to pay minimums? Do the balances just not seem to go anywhere? Combined Geraci Law staff has over 800 years of bankruptcy experience. We’re the firm to help you figure out a solution to your debt problem.

If you hire Geraci Law, only attorneys handle your legal work. We believes this provides you with the best service and experience. You are not meeting with petition preparers or paralegals – you are hiring a Geraci Law attorney. We can meet with you virtually anytime, anywhere!

Geraci Law bankruptcy attorneys can help in central Illinois for cities including Kankakee, Bourbonnais, Minooka, Champaign, Danville, Bloomington and Decatur. We’ll even help everyone in Illinois’ capital of Springfield.

Want to learn more about Geraci Law?

We have a ton of resources for you:

Our web site – www.infotapes.com – you can schedule appointments online!

Free bankruptcy counseling videos – https://www.infotapes.com/Bankruptcy/BankruptcyInformationVideos

Read Peter Francis Geraci’s Complete Book on Bankruptcy – https://www.bankruptcybookbypeterfrancisgeraci.com/

Read articles written by PFG! – https://www.infotapes.com/Articles

Meet some of our Geraci Law team!

Attorney Ashley Chike

She’s a Senior Court and Managing Attorney. She’s handle over 1000 virtual appointments, and she has extensive experience evaluating income, expense, and property and debt information to provide the best solution for the client.

Ashley double-majored and earned her JD/MBA from Loyola University of Chicago and was inducted into Alpha Sigma Nu Honor Society by graduating in the top 10% of her class. Ashley has personally filed over 900 bankruptcy cases and appeared in court over 7,000 times for clients.

Attorney Jonathan Parker

He’s a Senior Court/Managing Attorney and we think he’s one of the best consumer bankruptcy attorneys in the USA.

Jonathan earned his JD from the University of Wisconsin Madison Law School and earned a BA from Northwestern University. He’s licensed in Wisconsin & Illinois.

Attorney John Sadler

He’s both a Senior Court Attorney and a Senior Managing Attorney. We think he’s one of the best consumer bankruptcy attorneys in the Country. John’s been with the firm since 2011.

Attorney Sadler was born and raised in Bloomington, Indiana. John Sadler attended law school at the McKinney School of Law in Indiana and is dual licensed in Indiana & Illinois. He’s handled tens of thousands of Chapter 7 & 13 matters and is one of our nicest attorneys.

Read ALL ABOUT DEBT RELIEF at www.bankruptcybookbypeterfrancisgeraci.com.

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