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Peter Francis Geraci

Peter Geraci’s Answers

55 total


  • A bankruptcy was filed in 2010 and a discharge was done in Dec of 2010 In 2011 a suit was filed against a trust for mishandelin

    mishandeling the trust and a settement is due in Dec of 2011. Does the bankruptcy trustee have to get any of this----i d believe that they had left open this at the court. This was a trust which I was supposed to get by the death of my grandmoth...

    Peter’s Answer

    If the bankruptcy trustee "left this open" then you listed it, and the attorney handling your suit for mishandling the trust, and your bankruptcy attorney know aout it. Call them immediately. Yes, the banrkuptcy trustee has to be involved, get advice immediately and do not attempt to defeat any claims of the trustee. How much you will get, if anything, depends on the claims filed by your creditors in your bankruptcy, so you may or may not see any of the proceeds. You should not be on the internet: you had an attorney for bankruptcy and have an attorney for the settlement, and were notified by the bankruptcy trustee of report of an asset she or he will administer. Get on the phone with your lawyers.

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  • Does cook county have a form letter for filling a written appearance

    I need to file a written appearance for being sued for credit card, what do I have to send and to whom do I send it to?

    Peter’s Answer

    Yes, you may file an appearance, but you also need to file an answer admitting or denying the claim against you. Forms are available for the appearance, but the answer form is blank and you have to list the numbered allegations in the complaint, and admit, deny or otherwise deal with them. There is a bar association help desk downtown, and at the District 6 courthouse in Markham. If you owe the debt, and just can't pay it, file your appearance, answer, and appear at your court date and ask the judge to help you get an installment payment plan. Otherwise if a judgment is entered and you have no court-ordered payment plan, they can proceed to collect. If you are destitute, tell the attorney for the creditor that you have no money, no property, so they don't waste time trying to collect from you. The cost of filing an appearance is over $100, so bring $150 with you to the courthouse to file it. Or call the attorney if you intend to default and are penniless, so they at least know their judgment will be uncollectable. If you are working and have other debt and cannot pay it, consider Chapter 7 or 13 bankruptcy.

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  • I Discovered Fraudulent Documents in a Lender Proof of Claim 6 Years AFTER Discharge

    In looking through the old bankruptcy paperwork, I discovered fraudulent documents in the proof of claim for my mortgage. I had an attorney but there is no way he would have known the document was fraudulent. I know because I happened to come acro...

    Peter’s Answer

    Hindsight is always perfect, but the question is: what exactly is the "fraud" in the document with your signature? Chapter 13 is a repayment plan. You listed what you thought you owed, and the mortgage company filed a claim with an amount that either was the same, or not. The supporting documents fraud might have been, and might still be, some kind of defense or give you some claim to sue them, but if you were delinquent in the mortgage, and their proof of claim was for the correct amount, you accomplished your purpose in getting it currnt in the chapter 13. If, however, the proof of claim was fraudulent, and caused you harm, you may have remedies and damages you may want to pursue.

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  • Can a collections law office suspend my license?

    Some lady called left message saying she was from some assoc. law office ,and a civil claim had been filed against me and was put on her desk for a final signiture,that I was to call her asap she had my social and dr.license # and said my license ...

    Peter’s Answer

    Sounds like a SCAM to me, probably calling from a room in a motel in the desert outside Las Vegas with no air conditioning, or from a prison inmate. No law firm would say such things, block the number. Most of these cash advance places now are located outside the country, especially if it was an internet loan. They don't even file claims or respond to bankruptcy filings, but if you gave them your bank account info and authorization to withdraw from it, better close that account and open another to avoid problems. And stay away from these places when you are short of money. In general, even in case of a legitimate judgment for debt like medical bills or credit loans, no DL suspension ever. Only for not paying support, or fines or tickets.

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  • Can I include the debt from my short sale in my Chapter 7 Bankruptcy?

    A couple years ago, I completed a short sale and now have debt cancellation income as a result (the property was not my primary residence). I am considering filing for Chapter 7 bankruptcy for many reasons. Can I include the debt remaining from m...

    Peter’s Answer

    Yes. Definitely list the deficiency on the short sale. Debt discharged in bankruptcy is not generally taxable debt cancellation income, but whether or not your have to pay tax anyway is something you can get advice on by going to a local IRS service office, pulling a number, and discussing it with an IRS rep, so after you file, if you are going to anyway, take your bankruptcy petition with you and the IRS will help you file your return. First, see your bankruptcy attorney, because you may have to produce a filed return before you can go to your first meeting of creditors. Your attorney can decide if you should file your return before or after your bankruptcy petition.

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  • Debt Collection

    I have an unpaid college tuition bill from spring of 2005. I never attended any classes due to illness and withdrew online. The school sent a payment notice to which I responded I had withdrawn and to provide proof of system logins. I never he...

    Peter’s Answer

    Yes you should contact them, but first you should obtain the school handbook for 2005, which probably contacts the terms of tuition refund upon withdrawal. That is what governs your situation, as well as any enrollment documents. The school will probably be happy to provide those so you understand if your withdrawal met the contract terms. It may just be a matter of clearing that up, so get on the phone, or better yet in person if you can, and patiently see where you stand. Realize that any communication from them is an attempt to collect a debt and anything you say can be "used against you" so keep a record of all conversations. If you receive a letter, it will have a notice advising you to dispute the debt in writing or they will be entitled to assume it is valid.

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  • My wife filed for divorce but now wants to reconcile. If she files bankrupcty, how will this affect me?

    My wife has bi-polar disorder. She stopped taking her medication for a period of time resulting in a prolonged manic episode. During this period, she filed for divorce and incurred a massive amount of debt (both frivilous spending as well as lega...

    Peter’s Answer

    This is a common problem. If your wife is now on medication and you are willing to reconcile, congratulations! Her bankruptcy will help you both greatly. You state she incurred no joint debt, except the condo mortgage. Her filing will eliminate her obligations on debt in her name she cannot pay. However, her divorce attorney may get a judgment against her for fees she cannot pay, and against you as well, which cannot be eliminated in a bankruptcy. Her bankruptcy will appear on your credit report as the bankruptcy of a co-obligor on the condo mortgage, but she can "reaffirm" her liability on the mortgage and it will not affect that debt: you can continue to pay it as before. This is a general opinion, and is not legal advice: consult a competent bankruptcy attorney and see if you get the same opinion, but I think it will benefit you both if she files and puts this behind her. Judgments against her can attach to your condominium if she does not.

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  • Marriage to boyfriend who is about to file for bankruptcy

    My boyfriend and I have been together 10 years, have a home, and children. He is now very sick and unemployed. I want to give him my health insurance by getting married. But what was stopping us before and now is his huge debt. I supplied 100...

    Peter’s Answer

    You state the you "co-own" your house with him, and there is large equity. Immediately, run, don't walk, to his bankruptcy attorney, or your own, and get it in writing that his filing will not jeopardize the equity in the home. As far as getting married, it would enable you to file a joint bankruptcy, but whether or not that is advisable, and whatever else it would do or not do for you besides health insurance, are questions to be answered by competent local counsel.

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  • My landlord broke the lease and is declaring bankruptcy, what should I do?

    My landlord refused to fix the AC and does not intend to pay back the deposit. I just got a notice that she is filling a chapter 7 bankruptcy and a meeting of creditors has been set for June 30th. In the mean time I had to fix the AC out of my own...

    Peter’s Answer

    You are now a creditor of your landlord. Since she has filed a bankruptcy, you cannot take any action against her unless you get written permission of the bankruptcy court. You can attend the meeting of creditors, and ask what she did with your security deposit, what bank it is in, etc. The bankruptcy trustee will see if she has any assets. You should file a claim for your repairs and security deposit, but you will not see any payment unless the trustee finds and collects non-exempt assets. If the trustee does not want to take over the building you are in, and does not direct that you pay the rent to the trustee, your landlord will still own it and collect the rent, and you may be able to offset these expenses against your rent. Sometimes, the trustee does not want the building, and you will receive a no-asset report, and sometimes the landlord walks away also, in which case you should plan to move. Ask the trustee at the meeting if he or she is going to administer your building as an asset, so you know how to plan to move or not. Sometimes it works out for tenants, sometimes it doesn't. Contact a local attorney if you have additional questions, this is just general principles.

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  • Length of time to file chapter 7 after chapter 13 is discharged

    How long would a person have to wait to file a chapter 7 after a chapter 13 is discharged?

    Peter’s Answer

    Either 6 years or no years. It depends on the % you paid unsecured creditors in your Chapte 13. The object of Chapter 7 is to discharge debts. You are barred from receiving a discharge in Chapter 7 if you have received a discharge in a Chapter 13 paying less than 70% to unsecured creditors for 6 years after that Chapter 13 was filed. If you paid your unsecured creditors more than 70% in your Chapter 13, and got a discharge, you are free to file Chapter 7 with no waiting period. You can "file" a Chapter 7, but if you don't wait the proper amount of time you won't get a discharge. No one does that. If you did not get a discharge, but your Chapter 13 was dismissed, there is no waiting time.

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