Who Your Lawyer Is, DOES Make a Difference

Geraci Law founder Peter Francis Geraci likes to say “Why pay the same and not get the name?” 

Who Your Lawyer Is, DOES Make a Difference

Geraci Law founder Peter Francis Geraci likes to say “Why pay the same and not get the name?”  Even worse, why THINK you’re paying an attorney to protect you, but end up losing your home or other asset?

Remember, creditors look at your bankruptcy petition, and so does the United States Trustee and their minions.  An attorney representing creditors scrutinizes your Chapter 7 or 13 petition, looking for assets they can take, or money they can get you to pay creditors.

Geraci Law Attorney Nathan E. Curtis recently defeated a Chapter 7 trustee in one case, and a Chapter 13 trustee in another. In Will County, Illinois, the Chapter 7 trustee wanted to take $12,000.00 the Geraci clients had claimed exempt as funds from the sale of their home, because Illinois law says the “homestead” exemption is only good for a year.  Attorney Curtis pointed out to the Court that, since the Chapter 7 was filed within a year of receiving the sale proceeds, the Trustee could not claim it by holding the Chapter 7 case open and waiting a year to object.  This saved the Debtors $12,000.00.

In the Chapter 13 case, Geraci Law attorney Nathan Curtis defeated the claim of the Chapter 13 trustee that life insurance proceeds of $50,000 were “disposable income” that had to be paid to creditors. Attorney Curtis pointed out that only “current monthly income”, not a one-time payment, much less a life insurance payment that is exempt from creditors, may be required to be used to pay creditors.  The Bankruptcy Judge agreed, and Geraci Law saved the widow from having to use life insurance to pay creditors.

Who you choose for an attorney DOES make a difference!

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 30,000 5-star reviews 5starsince November 2016!

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

Worried About Assets? PFG can help!

Do you own a house, car, or another asset you want to keep? Are you worried that Chapter 7 bankruptcy means you won’t get to keep your property? Geraci Law & PFG can help!

Worried About Assets? PFG can help!

Do you own a house, car, or another asset you want to keep? Are you worried that Chapter 7 bankruptcy means you won’t get to keep your property? Geraci Law & PFG can help!

Geraci Law has over 40 years of bankruptcy law experience. We’ve seen it all. Geraci Law can help you eliminate debt and keep your property. We’ll figure out the best plan of action to fit YOUR needs.

Hiding things NEVER works. Tell us and we’ll figure out the best option to receive a discharge. Experience means a lot. Knowing you have the world-class representation of Geraci Law on your side make the process easier.

From Attorney Peter Francis Geraci’s, The Complete Book on Bankruptcy

If your house is worth a lot of money, or even if it is only worth more than your mortgage plus homestead exemption, you may not be able to file a Chapter 7 and still keep the house. You may have to do a Chapter 13 repayment plan to protect your equity in the house. It is necessary to bring in a recent appraisal if you want competent advice from your attorney. You do not need an expensive appraisal. You may already have one if you have recently refinanced the house, or if you recently purchased it. A letter appraisal from a local real estate agent will do.

 

Example: Mr. and Mrs. Robertson have fallen behind in their house payments, because Mr. Robertson was ill for 6 months. They were served with a foreclosure suit, and want to save their house. They have no other bills. Their neighbors, the Smiths, have a lot of bills, but they are current only on their house payment.

The Peter Francis Geraci Chapter 7 or 13 Solution: The Robertson’s can file under Chapter 13 of the Bankruptcy Act to pay the 6 months of arrears, and foreclosure costs, over as long as 36 months. They have to start paying their regular mortgage payments again, but the mortgage company has to stop the foreclosure, and accept regular payments again. The Smiths can file under Chapter 7, and discharge all of their debt, and they can keep their house since it is worth $80,000, and their equity is less than $15,000 allowed as exempt from creditors under Illinois law. Other states have other laws relating to homestead.

Read more of The Complete Book on Bankruptcy @ https://www.bankruptcybookbypeterfrancisgeraci.com/