Geraci Law – The Firm You Know & Trust

The Chicago Blackhawks lost last night, they get another shot for a win. Let Geraci Law help you with a fresh start!

The Chicago Blackhawks lost their opener last night against the Las Vegas Golden Knights. The good news is they get another shot at Game 2 on Thursday. Geraci Law wants to help you with your second shot. If you lost your job, if you lost income, if you just feel like you are losing the battle of debt – Geraci Law is here for you. Don’t gamble your financial future!

Since 1977, Geraci Law helped over 250,000 people solve debt problems. We’ve been reviewed 30,000 times from HAPPY clients. These clients have two things in common. The first is they used Geraci Law to get out of debt. Second is their lives are better since filing for bankruptcy with Geraci Law. It’s just simply relief.

Bankruptcy can be scary – you might be worried or nervous. There’s enough in the world to be worried and nervous about. Bankruptcy with Geraci Law can help solve the debt nerves. Owing money you cannot pay is scary – bankruptcy should not be.

We work with everyone. We offer flexible payment options and if bankruptcy is NOT your best bet, we’ll advise you on alternative options. It’s what Geraci Law is here for – we want to change your life for the better.

Geraci Law can meet you virtually, by phone or we’re open at our several locations. It’s whatever is easiest for you. It starts with a free consultation. You can schedule this by calling 800 CALL PFG or online by clicking here. https://www.infotapes.com/Bankruptcy/OfficeLocator

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.

No question too big or small – we’re nice, we’re experienced and we’re ready to help!

Rockford Residents – We’re Here for You!

Geraci Law Rockford office is open and ready to help any Chrysler workers!

Rockford Residents – We’re Here for You!

Back in 2013, Chrysler shut down the legal department. Before, Chrysler employees had free legal representation including bankruptcy filings. Now, Chrysler employees in need of financial help are left to find their own counsel.

Geraci Law is here for you in our Rockford, Illinois office. No one understands how hard it’s been for employees from Chrysler in Belvidere. Since 2018, you’ve dealt with multiple shutdowns, overtime cuts and furloughs ranging from one week to entire month. Geraci Law staff gets it. We know you are trying, we know it’s tough.

Meet our Geraci Law staff in Rockford. We’ve helped tons of coworkers, friends and family. Geraci Law is local and we’re here for you. Call us at 800 CALL PFG.

JKNAttorney Jason Nielson
Attorney Jason Nielson is a senior attorney at Geraci Law. He is licensed to practice in Illinois and Texas. Attorney Nielson started with Geraci Law in 2007. He is an expert in the Northern and Western districts of Illinois.

Clients say, “Pleased that everything went through in a timely manner! We were helped every step of the way, from filing Chapter 7 or Chapter 13. We were guided through each step, very helpful! Our minds were set at ease. Give a call to: Jason Nielson if you have questions about any Bankruptcy and Dept Legal Service you need. As with us, we are sure he will answer then guide you as to the best route for you! Thank you Jason.”

HRTAttorney Phil Hart
Attorney Hart used to work for Chrysler legal department, he now handles court work for Geraci Law. He’s an expert in Chapter 7 and Chapter 13 bankruptcy petitions.

 

 

 

JODAttorney Joseph D’Onofrio
Attorney Joseph D’Onofrio graduated with a Bachelor of Arts from Northern Illinois University. He went on for his Juris Doctorate at Valparaiso University Law School.

Clients say, “Filing bankruptcy is NOT something that I never thought that I should do HOWEVER circumstances changed and I thought it was the worst thing I could do to change my situation. However after going in to Geraci and talking to Mark I was put at ease and decided that it was the best thing I could do. Joe D’Onofrio continued to make this process quick and easy to understand and was of immense help to me. These folks are calming and so easy to talk to and I can’t thank them enough! They are awesome and continued communication has been awesome as well!”

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.

Geraci Law Helping Madison, WI

Geraci Law is now taking cases in Madison, Wisconsin – call us for a FREE consult!

Geraci Law Helping Madison, WI

Geraci Law is now taking cases in Madison, Wisconsin and the surrounding areas! If you are in the Western District of Wisconsin, Geraci Law can help you handle your debt. You can meet with an experienced attorney with the Geraci Law difference. We can meet with you via video from the comfort of your own home.

Our Wisconsin Team (all are graduates of University of Wisconsin – Go Badgers!)

PARAttorney Jonathan Parker

Attorney Jonathan Parker is a senior court attorney and supervisory attorney at Geraci Law. He is responsible for the majority of the firm’s litigation as well as counsel to Attorney Peter Francis Geraci.

Attorney Parker’s professional experience includes providing client consultations, filing bankruptcy petitions, handling the firm’s litigation, and legal research. He has won and appealed numerous cases for the benefit of his clients. He is a leading expert in consumer bankruptcy law.

He is the attorney of record on 7,934 cases and he’s appeared in court on 4,844 of them. Attorney Parker helped over 5,000 people solve their financial problems.

He has extensive knowledge of the United States Bankruptcy Code and debt settlement. Attorney Parker will determine your best course of action to solve your financial problem. You should expect nothing but the best representation when Attorney Jonathan Parker is on your team.

LSAAttorney Lisa Ellmaurer

Lisa graduated from the University of South Carolina in 2010 double majoring in International Business and Finance and double minoring in German and Chinese. She graduated from the University of Wisconsin Law School in 2013.

During law school she externed for the Wisconsin Department of Justice’s Consumer and Antitrust Unit and worked at the UW Law and Entrepreneurship Clinic. She also served as an Editor for the Wisconsin International Law Journal. Lisa is admitted to practice in both Illinois (2013) and Wisconsin (2013). Employee since 04/2014.

AMGAttorney Andrew Golanowski

Atttorney Andrew Golanowski graduated with Bachelor of Arts in Philosophy from the University of Wisconsin-Madison. He went on for his Juris Doctorate from the University of Wisconsin-Madison.

He is a supervising court attorney for the Eastern District of Wisconsin and is ready to help solve any complicated bankruptcy issues.

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.

Chapter 9 – Is Bankruptcy Bad?

An excerpt from Attorney Peter Francis Geraci’s “The Complete Book on Bankruptcy.” Learn more about misconceptions about bankruptcy!

Chapter 9 – Is Bankruptcy Bad?

Below is an excerpt from Attorney Peter Francis Geraci’s Complete Book on Bankruptcy.

No. Owing money you can’t pay is bad. Money can be used for good or bad purposes. People end up without money because of circumstances beyond their control, or for other reasons. Bankruptcy merely adjusts the debt situation to 0 again. You start out even. You get a fresh start, while still keeping the necessities of life. But the prevailing attitude about bankruptcy is that is “bad.”

This is an interesting perception. The origin of bankruptcy can be found in ancient traditions, as found in the Bible, Deuteronomy 15.1: “In the 7th year, each creditor shall release his debtors. This shall be known as The Lord’s Release.” In the Old Testament, it was the policy that a debt could exist only 6 years, and should be relaxed or forgiven in the seventh year. The purpose was to prevent damage to society by allowing a debt to live forever. The lender was cautioned thereby to lend only as much as the borrower could reasonably be expected to repay.

There are other Biblical references to debt, such as St. Paul’s admonition in Romans 13:8; “Strive to owe no debt, except that debt that binds us to love one another.” I have found nothing in any religion that states that owing money to another is “good.” In the Koran, there is a prohibition against lending money at interest. In most Moslem countries today, Moslems borrow at no interest from “banks of the faithful.”

In modern times, lenders do not follow this idea. In an era where charge cards are sent out through the mail and applications are “pre-approved”, creditors lend money without regard to whether or not the borrower can pay it back. They cover their losses by charging huge rates of interest. I have seen contracts with interest rates as high as 53%. In olden days, this was known as usury. Technically, any lending of money at interest is known as usury. But, until modern times, it was the money lender, or usurer, that was bad, not the poor person who had to borrow.

Of course, capitalism could not exist without the practice of lending capital and charging interest. But bankruptcy laws provide a legitimate, legal, and moral safety valve for the excesses of the credit system. Now, you don’t have to join the French Foreign Legion, disappear to Australia, or blow your brains out, to escape from your creditors. Bankruptcy was so important to the Founding Fathers of the United States, that, when the U.S. Constitution was written in 1787, they directed Congress to make uniform bankruptcy laws. Article III, Section 8 of the United States Constitution states: “Congress shall make uniform laws relating to Bankruptcy.”

Bankruptcy is therefore more fundamental to the United States of America than the Bill of Rights, and such things such as freedom of the press, and freedom from unreasonable searches and seizures.

The United States Bankruptcy laws are part of the Federal Code. They were passed into law by the United States Congress, our elected Senators and Representatives. All bankruptcy in the United States is governed by federal law, and the procedures are as much a part of our society as lending money at interest.

After the American Revolution, when the first Continental Congress met in 1787, one of the topics debated was whether or not to have a uniform bankruptcy law. Many of the American settlers had to run from creditors in England. They had to leave the country to avoid being thrown into debtor’s prison. Each American colony had different laws relating to collection of debts. Some had provisions that a person could be jailed for debt, and some, like the colony of Georgia, were havens for debtors and had laws which prevented bad treatment of people who owed money

There was little disagreement between the Founding Fathers of the United States of America, when it came to having a bankruptcy law. Freedom from debt was important, and so was the ability to start fresh. Therefore, in the United States Constitution, Article III, Section 8, we find the provision, “Congress shall make uniform laws relating to bankruptcy.”

However, the banking lobby was so strong that each state kept their own bankruptcy laws until 1898, when the U.S. Bankruptcy Code was passed. It was modified greatly in 1978 to deal with the amazing amount of consumer credit, and is constantly being tinkered with by Congress to balance the interests of those who lend money, and those who borrow it.

Abraham Lincoln was a bankruptcy lawyer. In Springfield, Illinois, Old Abe filed about 1/2 the bankruptcies in Illinois in 1842. 1/2 of his legal work involved debt cases.

It is to the advantage of moneylenders, to use public relations techniques to convince the public that bankruptcy is bad, and to make it something that is bad or evil. I agree that you should not discharge your debts until it is absolutely necessary, but there is certainly nothing wrong or illegal about it. No one comes out to your house and takes your clothes. No one paints a big “B” on the sidewalk in front of your house. In fact, no one is interested.

If you find yourself with no savings, nothing left over after you pay your rent, mortgage, food and utilities, and still have bills to pay, you should consider taking advantage of the fresh start provisions of the bankruptcy law. Bankruptcy is like getting a fresh start. Your debts are forgiven, except those that you want to continue to pay, and you can start saving money and doing things the right way, instead of suffering because of the credit trap.

People come into my office and ask, “What will happen to me if I file a bankruptcy?” No one ever came in, when I used to be a general practice attorney, and said, “What will happen to me if I don’t have get convicted for running a red light?” They never said, “What will happen to me if I sell my house?” But people who are being chased by bill collectors sometimes feel that they should not be able to get relief and that they will be punished if they get a fresh start. They do not realize that a big part of bankruptcy laws is forgiveness.

Nothing will “happen” to you if you file a bankruptcy. You won’t suddenly become rich and famous, or popular, or beautiful or handsome, and, on the other hand, you won’t suddenly be miserable and an outcast. One out of every 22 Illinois families will file for some type of bankruptcy relief, on the average, and in some states, the average is higher.

So, if you have problems with bills, getting the proper advice from a bankruptcy attorney as to whether or not some type of bankruptcy relief would make your life better, should not be looked on as bad. You should think of it as provision in the Federal laws that was put there by Congress to help people get out of debt.

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.

Free Attorney Consult – Westchester

Free attorney consultation for debt relief options in Westchester, Illinois.

Come visit Attorney Christine Kuhlman in Westchester, Illinois for a free consultation regarding your debt relief options. We’re located at 927 S. Mannheim Rd. Westchester 60154. We’re just South of 290/Mannheim on the East side of Street, next to BP gas Station and across from Target/Holiday Inn Express.

Attorney Christine Kuhlman is an attorney at Geraci Law. She has vast knowledge of Chapter 7 and Chapter 13 bankruptcies. She graduated with a Bachelor’s Degree in English from DePaul University and a Juris Doctor from John Marshall Law School.

Attorney Kuhlman is a member of the Illinois Bar Association, DuPage County Bar Association, and the DuPage Association of Women Lawyers. From the first consultation to bankruptcy discharge, clients should expect nothing but excellence from Attorney Kuhlman.

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.

Bad Credit = MORE Interest

Credit scores fall into 5 categories to determine interest rates. Consider Geraci Law to help with your credit score!

Bad Credit = MORE Interest

According to an article on CNBC (read here) – more than 1/3 Americans have a credit score that is considered “subprime.”  If you are one of these people, you may end up paying THOUSANDS more in interest than borrowers with better credit scores. Filing a bankruptcy can HELP improve your credit score!

The Consumer Financial Protection Bureau (CFPB) puts Americans into five different categories.

Deep Subprime – any credit score below 580

Subprime – any credit score between 580-619

Near-prime – any credit score between 620-659

Prime – any credit score between 660-719

Super-prime – any credit score above 720

Where do you fall? Your credit score is not only determined by timely payments. Your debt to income ratio plays a role. Do you have more debt than income in a year? Are you behind on payments? Are you considering borrowing money from a 401K or family member to pay off debt? Before you make a huge decision, talk with a Geraci Law attorney (guess what – it’s FREE).

Even if you are paying your minimum payments, you may not realize how much you are paying in interest! According to the CFPB, a Deep Subprime borrower paid 21.50% interest versus a Super-Prime borrower paying 12.50%. That is a HUGE difference.

Filing a bankruptcy could change your life for the better. You may IMPROVE your financial future to qualify for the better rates on mortgages, car loans or even credit cards. Don’t know your credit score? Not sure of what debt is reporting? Geraci Law can help!

Want more information about credit scores and bankruptcy? Below are a couple of links to related topics!

FICO Creates New UltraFICO Scoring System

When Should I File For Bankruptcy?

Credit Concern? Call Geraci Law!

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.

How Much Does Bankruptcy Cost?

How much does bankruptcy cost? Answer a few questions to find out!

How Much Does Bankruptcy Cost?

Bankruptcy costs vary by  case. It depends on what you qualify for. Spend about 5 minutes answering some questions at www.kwalifyme.com.

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.

 

Extra $600 Unemployment Ends on 7/31 – What Do I Do About My Debt?

The extra $600 in unemployment benefits ends on 7/31 – it may be time to rework the monthly budget.

Extra $600 Unemployment Ends on 7/31 – What Do I Do About My Debt?

The CARES Act provided an additional $600 per week in unemployment benefits. It is a federally funded program that is slated to end on 7/31. It’s only two weeks more of the extra income unless something changes. If you are unemployed, you should immediately review your budget. Take a look you’re your budget dependent on the $600 per week extra income? It is time to come up with an alternative solution…fast.

Make a list of your budget priorities. Expenses like your housing, food, utilities. Then take a closer look at where your money is going. Is your income going straight to student loan minimum payments? You could find savings here by consulting with your provider for a forbearance or deferment plan. Federal loans are automatically deferred until September 30th (read more at https://studentaid.gov/manage-loans/lower-payments/get-temporary-relief/forbearance).

Look at other expenses – a good way to find what you are spending money on is looking at your bank statement. Take a look at the last 30 days. If your budget is reliant on using the credit cards to pay for these priorities because you are ALSO paying the minimums then you are in a budget cycle (see Break the CYCLE of DEBT!).

You could be in a circle where you are making the minimum payments but using the credit again because your cash is gone. If you have LESS income coming in after the $600 additional unemployment benefit ends, then making those minimum payments becomes nearly impossible.  Add the interest rates, late fees attached to credit and you have a debt snowballing.

It may be time to consider a bankruptcy. Break the cycle of credit debt. Call Geraci Law and let’s go over options. If you want to consult by phone, we’re ready. Call 800 CALL PFG and ask to speak with an attorney. Start planning for your financial future so when you are back to work or when you have another source of revenue you are not relying on the credit debt to meet the basic essentials.

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.

This Fourth – Be DEBT Free!

Happy Fourth of July from Geraci Law! If you want to be debt free – give us a call to review your options!

This Fourth – Be DEBT Free!

Let this be your year to be free of debt. We’re here for you. If you are thinking about debt or finances over the long weekend – check out our web site. There’s a tremendous amount of information and options.

Want to talk? We’re here at 800 CALL PFG.

Want to meet with an attorney? Schedule ONLINE https://www.infotapes.com/Bankruptcy/OfficeLocator

 

2019 IRS Tax Deadline is 7/15!

An excerpt from Attorney Peter Francis Geraci’s “The Complete Book on Bankruptcy.” Learn more about IRS tax debt and bankruptcy!

2019 IRS Tax Deadline is 7/15!

With COVID-19, many people may have forgotten about the other 19. That’s your 2019 tax returns! The IRS tax filing deadline is just about 2 weeks away. Filing your tax returns on time is important. Did you know sometimes you can eliminate tax debt with a bankruptcy?

Below is an excerpt from Attorney Peter Francis Geraci’s Complete Book on Bankruptcy.It’s too soon for 2019 taxes to be eliminated but if you have older tax debt, call us. We do a FREE consultation to see if bankruptcy could be a solution.

Chapter 33 – Can I Get Rid of Taxes?

Sometimes, if they are income taxes, you filed a truthful return on time, you just owed the tax and could not pay it, and more than 3 years have passed since the return was due (usually April 15 following the tax year), and the taxes have been assessed and more than 240 days have passed…

There are so many different kinds of taxes and the law is so complicated, that the best answer is: sometimes. Bankruptcy is about the only law more powerful than the IRS. Usually, only income taxes can be discharged. Sales or withholding tax cannot.

In order for income taxes to be dischargeable, you must have

  1. filed your return on time, and
  2. the date you filed your return must be more than 3 years ago. (April 15 is due date but can be April 16 or 18 because of weekends some years)

If your return was filed late, you need only wait two years after it was filed to have your income taxes eligible for discharge. If you didn’t file a return, your income taxes are not eligible for discharge.

If your income taxes do not fall under the above time periods, or if you did not file a return, you may be eligible to force a repayment plan on the IRS, if you have sufficient regular income, by proposing a Chapter 13 Debt Repayment Plan. In a Chapter 13, you can pay past due income taxes over as long as 5 years, with no further interest or penalty, in most cases, and the IRS cannot take collection action during the Chapter 13 Plan. Of course, you must pay any future income taxes on time, and you must file any tax returns not previously filed, as a condition of having your Chapter 13 approved.

There are many other kinds of taxes, and special rules apply to all of them. I make no guarantee that any tax is dischargeable, because of the complexity of the rules, and the policy of not making most taxes dischargeable. We list them on the petition, however, notify the IRS and proper governmental entities, and then if the tax is not discharged, it is possible to work out a repayment plan based on your bankruptcy budget which we prepare.

Problem: Donald and Regina filed their 1982 and 1983 returns on time, but didn’t have the money to pay the $4500 tax due on Donald’s part time job, and Regina’s unemployment money. They also owe $9,000 in unsecured credit. Now they are both working full time, but there is an IRS levy taking 80% on Donald’s check.

The Peter Francis Geraci Chapter 7 or 13 Solution: It appears that they can start fresh with no debt by filing a Chapter 7. Or, they can pay their debt over as long as 60 months, and their payment will be about $250 per month, including all costs.

Note: Unpaid income taxes can build up interest and penalties rapidly, so Chapter 13 cases are great for many tax debts.

Trust fund taxes, such as employee withholding amounts that were never paid to the government, are not dischargeable, although they can be paid back in full in a Chapter 13.

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 25,000 5-star reviews 5starsince November 2016!

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