Can I get rid of student loans in bankruptcy?

Can I get rid of student loans in bankruptcy?

Clients come to Geraci Law for multiple reasons.   They want ANSWERS!   They want answers they can rely on.  Geraci Law has over 60 attorneys who understand every aspect of student loans in bankruptcy and how to discharge student loans OUTSIDE of bankruptcy!

How to get rid of student loans OUTSIDE of bankruptcy:  If you are on Social Security Disability, apply for an “administrative discharge”. You will have to show thesGSL Imagee things:

  1. You must have a federally insured student loan. This doesn’t work on private loans or tuition.
  2. You must be on Social Security Disability: permanently disabled for any kind of work
  3. You can’t have any other assets, such as a pension or 401K.

So, you don’t need our help if you are totally disabled, and Social Security says so, and you have no assets.

If you are NOT totally disabled for any kind of work, permanently, you cannot eliminate your student loans in bankruptcy:  you should look at income based repayment, or getting rid of your other debt.  Here’s how:

How to get rid of student loans USING Bankruptcy:  Get rid of the other debt so you can pay down your non-dischargeable student loans!

GSLIt’s very hard to get a discharge of student loans in either Chapter 7 or 13 bankruptcy.  Almost impossible.  But here’s what Geraci Law did for this client who came in with overwhelming medical bills and student loans.  We filed Chapter 7 to discharge her medical debt and a repossession, so she can now pay her student loans!  She is working, she can’t discharge them, but she got rid of all her debt BUT the student loans. She is making good progress on them now that she has no other debt.  Geraci Law gets a 5 star review!

I went to these attorneys after being Debt with student loans and hospital bills they were there right there by my side. Several times they informed me a what was needed an on the spot at all times I am so pleased with these people I must say thank you thank you and thank you!

If you are working full time, and have debt that is keeping you from paying down your student loans, just dial 1-800-CALL-PFG (800-225-5734) for a free phone mini-consultation,  or log on to infotapes.com to make appointments online 24/7.

Read more at www.bankruptcybookbypeterfrancisgeraci.com

Why is bankruptcy like baseball?

Geraci law knows how you feel when you’re in debt. Studies have shown most folks who would rather talk about their toilet habits or sex life than how much money or debt they have. Does this sound like you? You are 60 years old and live with a lot of economic uncertainty. You and your husband fight about money, often regret the purchases you make, and save nothing for retirement? Worse yet you have little or no pension, and you’re worried about healthcare?Baseball

For sure, you don’t know anything about the law, and you know even less about bankruptcy law. Bankruptcy is the Great American Law. Bankruptcy and baseball both start with the letter B.

Bankruptcy is a lot older than baseball.  The first officially recorded baseball game in U.S. history took place on June 19, 1846, in Hoboken, New Jersey: the “New York Nine” defeated the Knickerbockers, 23–1, in four innings

So you probably know a lot more about baseball than you know about bankruptcy. Bankruptcy and baseball are both good things. Baseball allows you to forget your troubles for 9 innings, and root for your home team. Bankruptcy allows you to get out of debt and get a fresh start so you’re not paying off old debt with money you should be saving for your retirement.

To find out more about bankruptcy and how it can

  • get you out of debt,    FlipBook
  • repay debts with NO interest
  • keep your pension, house, SUV and savings
  • allow you to save money,
  • protect your tax refund,

and more importantly, give you a sense of peace and financial freedom, dial 1 800 Call-PFG (800-225-5734), or visit infotapes.com. You can even read our new flipbook the complete book on bankruptcy by Peter Francis Geraci!

Make an online appointment 24-7 or get a free phone mini-consultation 7 a.m. to 7 p.m.

 

Geraci Law Advice!

A woman came to Geraci Law with a financial problem. She listened to Geraci Law and here is what she said,

“I went to these attorneys after being Debt With student loans hospital bills they were there right there side. Several times at the bankruptcy lawyer petition me they inform me a what was needed an on the spot at all times I am so pleased with these people I must say thank you thank you and thank you.”

Read more of what Geraci Law clients say at https://www.infotapes.com/GeraciReviews.

Paying Debt with Debt?

Consumer debt is growing every year.  Of course most people want to make progress paying OFF debt but for many it means taking out a personal loan.

Some believe personal loans or debt consolidation loans are a solution to get ONE payment at sometimes a lower interest rate. If you have several different bills, you can take a personal loan to have a single payment.

But is it a Band-Aid for a wound? Taking on debt to pay debt even at a lower interest rate does not eliminate the interest or the balance. Chapter 13 bankruptcies with Geraci Law are ZERO interest and structured into a 3-5 year repayment plan. A Chapter 7 eliminates debt meaning you have ZERO debt.

According to a study from online lender Lending Tree, the outstanding personal loan balances are close to $125 million! More and more people believe a personal loan is a debt management solution. Consider other options rather than the catch 22 of paying debt with debt! 

$5 Million Settlement in Death of Mother of 3

The client came to Geraci Law for a Chapter 13 Debt Repayment Plan. His debt problems were caused by loss of income caused by the death of his 47 year old wife, after surgery for a uterine cyst. The husband asked attorney Peter Francis Geraci to look into it.

Mr. Geraci has wide experience in medical negligence. He obtained the records and sent them to highly skilled experts, who reported that the doctors and nurses caused the death of the wife by medical errors. Mr. Geraci filed a lawsuit for the widower and the 3 surviving children, and after the statements of the family, and the medical personnel, the defendants realized that there was no defense, and settled the case without trial.

As a result of the settlement, the husband’s Chapter 13 was closed early, the wife’s credit cards as well as her medical bills were paid, and the 3 children have a college fund.

Your boss is worried about your bills!

Your employer is worried about your financial situation! Many companies are offering financial wellness programs for employees. Why would a boss worry about debt?

Lost Sleep

When you lie awake all night trying to figure out who is getting paid this month, you are losing important sleep. You wake up for work not fully refreshed and ready for the day.

Missed Work

Court appearances and second jobs can lead to shortened days and missed deadlines.

Wage Garnishments/Assignments

If your financial situation has gotten to the point of court ordered wage deductions, your payroll department processes the garnishment creating more work and lost wages for you.

Stress

Lack of sleep and worry over debt means you are probably more stress than someone not in financial distress. Stress affects client communication, work product and general work environment.  In addition to the lack of sleep, constantly worrying about your debt can cause a lot of unnecessary and distracting stress. This can be detrimental to your work product or the general work environment.

Good news!

Filing a bankruptcy CAN HELP. Geraci Law can file a case in as little as ONE DAY to stop collection efforts by creditors. We can get you the sleep and rest you need to focus at the task on hand. It all starts with a phone call.

 

Celebrities with Financial Trouble

Celebrities are just like us and sometimes struggle financially. Some take on additional roles, others sell assets and some file for bankruptcy to gain financial relief.

Aretha Franklin – sued by her condo association for over $11,000 in past due condo association fees.

Michael Jackson – at the time of his unexpected death in 2009 he was close to foreclosure on the famous Neverland Ranch.

Nicolas Cage – he is one of Hollywood’s biggest earners but also biggest spenders. At one point, he owed over $6,000,000 to the IRS for 2007 taxes.

Mark Twain – after investing in a publishing house that went bankruptcy, Twain was forced to file for bankruptcy in 1894.

Dennis Rodman – after winning championships with the Chicago Bulls, Rodman claimed broke and unable to pay bank child support. In 2012, he was claimed to owe over $800,000 in back child support.

Kim Basinger – in 1989, Basinger purchased an entire town with the intention of making a tourist attraction or production studio. Instead she filed for bankruptcy and declared a loss.

Toni Braxton – she was diagnosed with Lupus and owed thousands in medical bills. She’s filed for bankruptcy multiple times for financial relief.

Stephen Baldwin – he filed for bankruptcy in 2012 on over $70,000 in credit card debt.

Gary Busey – he filed for bankruptcy protection but did not offer and assistance for his tax debt. He claims to owe over $451,000 to the IRS.