Don’t be Embarrassed, Nervous or Afraid!

Below is from Chapter 2 of Attorney Peter Francis Geraci’s, “Complete Book on Bankruptcy.” Read below or the rest of the book @ https://www.bankruptcybookbypeterfrancisgeraci.com/

CHAPTER #2 Don’t be Embarrassed, Nervous, or Afraid

Everyone tells me they are embarrassed, nervous, and afraid to get out of debt. So read our 30,000 reviews and find out what Geraci Law has done to make their life better. Start with the reviews.

Now, let’s take embarrassed first. No one talks about money. They talk about everything else, but in America, money is a guilty secret. So the first thing you have to realize is that almost 1 million people a year file bankruptcy. That’s right. It’s real common. Are you 40 years old? In the last 40 years, about 40 million people have filed bankruptcy. So don’t be embarrassed. Donald Trump has put more than one of his projects in bankruptcy.

Second is nervous. Log on to infotapes.com and read real life stories about people just like you and how their Chapter 7 or 13 worked out for them. Get educated. Then you won’t be nervous. Take my free online 20 minute credit counseling course. Or take my 2 hour course for $25. Too much debt is bad. It can actually affect your health. Bad debt is like a bad marriage, or a bad cold. It can make you feel miserable. If you get out of debt, your credit score goes up, and you can start saving for a house or car you want.

Third is afraid. Don’t be. At Geraci Law, we will not file a bankruptcy for you unless we think it will make your life better. So, once you realize you’re in good hands, that a million people just like you file every year, and you know your credit score and savings will go up, you will be ready to get some good advice.

Why would anyone be happy about having to file a bankruptcy? The answer is, if there were no bankruptcy laws, you would have no way out of financial trouble.

The bankruptcy laws, and how they can help you, are not known to the general public. When a person finds out that they can get out of debt, and start fresh, without giving up any possessions, they are generally very happy. No one files a bankruptcy case unless they have to. If you have the money to pay your bills, pay them!

Why would you be happier if you kept your house, kept your vehicle, kept your pension, kept your household furnishings, and had no debt, and could save money each month for retirement? Why wouldn’t you?

Realize that if you have $20,000.00 in credit card debt at 18%, and just make the minimum payments at 2.5% of the balance, never using the card again, it will take you 37 years to pay it off. Go to our website, http://www.infotapes.com, and follow the links to msn.money.com, and bankrate.com. You will find useful financial calculators on those sites. Plug in your debt, and see that if you can pay only minimums, you have a life sentence of debt. If you have a lawsuit, getting garnished can eat 15 to 25% of your take home pay, or snatch your entire bank account.

Why should you have a life sentence of debt? Be happy! Don’t worry! If you can only pay minimums, collectors are calling, you have to charge necessities, you may be better off filing Chapter 7 and getting a discharge of that debt, or Chapter 13, which is a no-interest debt repayment. You could take that $500 a month and repay your debts in full with no interest over less than 36 months.

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 since November 2016!

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

Do I Qualify for Bankruptcy?

Check out https://www.kwalifyme.com/ to get answers to questions like:

Cost Of Bankruptcy
Cost Of Consolidation
Debt To Income Ratio
Experian “soft pull” report (doesn’t show on credit!)
Experian Credit Score
KBB Vehicle Value

Get your free online:

Median Income Score
Creditor Analysis
Bankruptcy Bar Calculator
Lawsuit Finder
Debt Consolidation Score

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

Student Loan Debt

Read the article @ https://www.infotapes.com/articles/news/90/student-loan-forgiveness-for-the-permanently-disabled/

Student Loan Discharges for Disability – Fill out online https://disabilitydischarge.com/

You can show that you qualify for a TPD discharge by providing documentation from one of three sources:

the U.S. Department of Veterans Affairs (VA)
the Social Security Administration (SSA)
a physician “unfit for any gainful employment’ like a catastrophic Worker’s Compensation or accident

For SSA (Social Security Disability) discharge and you have not received a notice their debts are dischargeable by the government, you can apply for the discharge by showing you are eligible for Social Security Disability Insurance or Supplemental Security Income. You can qualify for a TPD discharge by providing a copy of their SSA notice of award or Benefits Planning Query showing that the next scheduled disability review will be five to seven years or more from the date of your last SSA disability determination.

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

Credit Unions & Bankruptcy

Read the article from Attorney Peter Francis Geraci about Credit Unions and the difference in bankruptcy. This is why hiring an experienced attorney – matters. If you would like a free consultation, Geraci Law is here for you.

Credit Unions are Different than Banks in Bankruptcy

If you owe money to a credit union, they usually have a clause in their borrowing contract that any collateral you have given them, such as the car title, or a second mortgage on your house, is collateral for any other loans such as personal loans. It is what’s known as a cross-collateralization clause.

What is Cross-Collateralization?

Let’s say that you made a credit union loan for $3,000 and it was a personal loan and you had no collateral. Then you financed a car using a credit union loan, and you have $25,000 on that loan.

Look at your credit union papers when you made that vehicle loan. You don’t owe $25,000 on that loan; you owe $28,000, because there is a clause in small print that says any loan you have with them, is collateralized by the vehicle.

The Debt Can Stay If You Cross-Collateralize

Let’s say that you have a second mortgage with your credit union, and you take out a car loan, but then the car is wrecked and the insurance would only pay $15,000 but you owe $20,000. So the insurance pays the credit union $15,000 but you still owe $5,000. Since the car is destroyed, it is no longer collateral for the car loan, but since there is a cross-collateralization clause, you will pay $5,000 if it is secured by the second mortgage on your house. Even if you pay off the second mortgage, you have to pay off that $5,000 on the car loan, plus interest until you pay it off.

Do Credit Unions Debt Shame You?

Credit unions claim that they keep their interest rates are low because they have less losses than other lenders. One way they have less losses is by scaring you, and posting the names of anyone who causes them a loss, by not paying back 100% of what they owe, either on the credit union website or on a bulletin board at the credit union, or both. That is called “credit shaming.” It is pretty nasty, but it’s a fact of life with credit unions.

What if Your Credit Union Vehicle is Over-Financed?

So, under Chapter 7, if you have a vehicle and you want to keep it, and it’s financed by a credit union, they will want the vehicle back unless you sign up on the vehicle loan and any other loans you have with them. Under Chapter 13, they are a secured creditor on cross-collateralized loans.

Complications from Credit Union Debts

So, the most common case involving credit unions is that if you want to keep the vehicle financed by them, or you have a second mortgage financed with them, no other loans, it’s pretty routine: In Chapter 7 you reaffirm, in Chapter 13 simply pay them according to the contract terms.

The complication comes in where you have multiple loans with them and that’s something we can discuss with you, but please, go get a copy of each credit union loan so we can read the paperwork and see if there is a cross-collateralization clause. You can also stop by the credit union, and ask them for a copy of the papers and ask them if the loans are crossed with each other. Then you’ll know and can make an intelligent decision. Geraci law can help you make that decision.

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

Geraci Law Attorneys in Texas!

Geraci Law is ready to help YOU in Texas. Attorney Jason Nielsen and Attorney Cecil Scruggs are sworn into Texas. It’s the same AMAZING Geraci Law service in the heart of Texas.

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

Hiring Random General Practice Attorney for Bankruptcy Leads to Disaster

Geraci Law concentrates in Bankruptcy: why pay the SAME and not get the NAME

Read the following article written by Attorney Peter Francis Geraci and MORE @ https://www.infotapes.com/Articles

A homeowner hired a local attorney in Algonquin Illinois whose main business is income tax preparation. That attorney failed to avoid a judgment lien attached to the residence. That was in 2015, 7 years ago. After the discharge was entered, the lien remained, and the homeowner discovered it 4 years later, and complained to the lawyer, who filed at least 4 motions to reopen the case that failed. The poor homeowner then hired another attorney to clean up the mess, who also failed.

Here’s what the court had to say about the first attorney: While the court does not do so for every attorney appearing before it, as Maksymonko was unfamiliar to the court and given his repeated errors, prior to the Initial Hearing, the court sua sponte sought to confirm Maksymonko’s status as an attorney authorized to practice before it. It is worth noting here that this court has no bar qualifications or admission process. Attorneys practicing before it must only be members in good standing of the bar of the United States District Court for the Northern District of Illinois. What the court discovered was concerning—that Maksymonko was not a member in good standing of the District Court bar. Apparently Maksymonko was suspended from practice by the State of Illinois on January 23, 2003. As a result, he was reciprocally suspended by the District Court. https://www.ilnb.uscourts.gov/sites/default/files/opinions/BruceK.Probst15bk12654JudicialLienAvoidanceUnder522f60.pdf

Another attorney then appeared and failed. The lien of $92,054.53 is still stuck on the debtor’s residence. All because the homeowner went to an “unknown attorney” who was suspended. You can read the whole sad story in Judge Barnes’ opinion. Geraci Law would have simply filed, and won, a motion to avoid the lien, for most likely $92,000 less than what the homeowner is going to have to pay. Those attorneys who “dabble” in bankruptcy law may sometimes cause big trouble for their clients. In this case, the cost of a “cheap lawyer” was over $92,000.00.

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

Beverages & Budgeting

It may be time to rethink your plan. Use Geraci Law budget as a guide. If you are worried about the amount you are paying toward debt – Geraci Law is here for you.

Inflation is causing everyone to relook at the budget. Where to start? Where to begin? You can only eliminate cable once so where is there give? Look at your monthly expenses, write them down. Are the payments you worked out to “settle” or “consolidate” MORE than you are spending on food, utilities? Has the agency you hired settled anything? Are you being sued despite being enrolled in this program?

It may be time to rethink your plan. Use Geraci Law budget as a guide. If you are worried about the amount you are paying toward debt – Geraci Law is here for you. We’re happy to review your budget and options to see if there’s a BETTER solution.

Fillable PDF @ https://www.infotapes.com/Content/Forms/ExpenseFormFillable.pdf

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

What Bankruptcy Can Do!

No one wakes up in the morning and says, “I want to file for bankruptcy!” It does not work that way. Life happens and more often than not you are in more debt with less income. Sometimes it’s as simple as bad luck – you get into a car accident 2 days after your insurance lapses, you start a new job and are in the hospital before health insurance kicks in. There’s divorce, life circumstance – things happen.

Thankfully, we have bankruptcy as an option to deal with the debt. Filing for bankruptcy can be the fresh start and breath of fresh air you are looking for. So what can it do for you?

Gets rid of as many bills as possible
Does not affect car payments if you keep the car and continue payments
STOPS all calls and letters from bill collectors.
STOPS interest on charge cards.
CLEARS credit report except for bankruptcy listing.
Allows you to INCREASE your credit score.
Helps you catch up on house and car payments.
Lowers interest on furniture and appliance payments.
Allows you to start a savings plan immediately.
STOPS garnishments and wage assignments.
NEVER pay another old debt again.
Clear up past due utility bills–only a deposit needed to restart service.
All negative credit reports before bankruptcy are cleared.
Accounts you have reaffirmed or paid are credit references in the future.

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

What You Get When You Choose Geraci Law!

Check us out @ https://www.infotapes.com/. Geraci Law has helped THOUSANDS get control of their finances. We’re not a corporate firm, we’re nice friendly people ready to help. Geraci Law cares about YOU and finding a solution to your financial problem. If we can’t help, we’ll try to come up with an alternative solution.

Here’s what else you get when you choose Geraci Law:

Free phone consultation to go over your debts with a bankruptcy counselor. Call to start now with a free consultation.
Free office or virtual consultation Weekdays and Saturdays.
Fast filing same day available.
No money down filing available for Chapter 13 plans.
Payment plans you can afford available to fit your case.
We handle our own trial and appellate work.
No hidden charges: some firms tack on $150 for what we do for free.
Established bankruptcy law firm with over 100 attorneys and staff.
We do both Chapter 7 and 13, some attorneys only do one Chapter.
We are in court all the time everywhere, it’s no trouble to help you out!
No phony debt settlement schemes: we work within the court system.
Geraci Law is the largest bankruptcy firm almost everywhere we are.
Personal attention, happy clients, and a fresh start for you.
Experience counts: we do so much bankruptcy we see everything.
Geraci Law LLC provides our lawyers and staff with Continuing Legal Education constantly so you get lawyers who are up to date legally!

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

Can Bankruptcy Stop Collection Agencies From Calling?

Check out this article (and more!) at https://www.infotapes.com/Articles. The answer is YES.

Yes. You can stop creditors from calling you without filing a bankruptcy. Just say “Oh, I’m glad you called, where can I send payment in full?”

If you can’t send payment in full, start sending partial payments, and they’ll stop calling.

If paying the creditor who is calling, you isn’t in your budget, you can also say “Don’t call me, I can’t pay you, you can sue me but don’t call me.” They may or may not file a lawsuit against you.

If Geraci Law files your Chapter 7, or Chapter 13 repayment plan, we provide you with your bankruptcy case #. You then give it to anyone who calls you, and you won’t hear from them again. Make sure you ask who is calling and who they represent, so you make sure they are listed on your bankruptcy petition.

If you are planning on filing a bankruptcy with Geraci Law, Keep a pen and paper to take down information on who is calling you, if they are a collection agency or the actual creditor, and the account #, because you want to make sure you list them on your bankruptcy petition. Unlisted creditors don’t get discharged, so listing all creditors you have is important.

Or worse, someone has filed a lawsuit against you or your check is being garnished. You should immediately call us to start your case. A chapter 7 can eliminate your debt or a chapter 13 will consolidate your debt into a payment you can afford. Both Chapter 7 and Chapter 13 stop collection and lawsuits.

Is your mortgage or rent always late? Other payments are behind a month or more? All because you lost your income? You probably qualify for bankruptcy protection and need a fresh start to get rid of debt and start over.

What about savings? Do you have any? Are your balances not going down even though you make payments. Are you being turned down for credit? Many people file bankruptcy to help build savings. Watch our video on credit scores. You will learn that studies show bankruptcy will actually increase your credit score and that people who file bankruptcy are likely to have better future financial success. Why? Because they got rid of their debt and started over.

Are you concerned you have assets and cannot file a bankruptcy? Most people with assets can still file a bankruptcy to eliminate their debts. Think you make too much money to get rid of your debt? Chapter 13 gives you interest free repayments on your debt. Better yet, if your creditor doesn’t file a claim in your case you will receive a discharge without repaying them.

Let’s do a hypothetical: Bill and Sally have been married for 20 years. Bill recently lost his job in middle management, and is now working at half his former salary, driving a limousine. Sally had an operation, and since there was no insurance, owes $8,000 in unpaid medical bills. To supplement Bill’s income, they have been using credit cards to pay for groceries and other expenses because Sally needed 8 weeks to recover from her operation. The balances on the credit cards are now $5000, because they used the cards to supplement their lost income. Sally returned to work, but because of the medical bills and increased credit card balances, They can’t afford the credit card payments anymore. They want to know, do I qualify for bankruptcy.

Answer: Of course. Bill and Sally were hit with some bad luck. Bill lost his position in middle management and Sally’s operation forced her out of work for a month. A bankruptcy, either chapter 7 or 13, would benefit Bill and Sally because it will get rid of all their unsecured debt and they will be able to start saving now that Sally is back to work.

Does any of this sound familiar? If it does, call right now to get your options.

But let’s do one more. Same situation with Bill and Sally, but this time Bill and Sally are 6 months behind on the house. Bill and Sally received foreclosure paperwork and now they need to save the house.

Answer: Chapter 13 will stop the foreclosure and let Bill and Sally repay the past due amounts over time. Better yet, the unsecured debts will be paid interest fee. When the plan is complete Bill and Sally will likely have improved credit for making timely payment in their chapter 13, a MUCH BETTER budget, and no debt.

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

CHAPTER #2 Don’t be Embarrassed, Nervous, or Afraid

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Credit Unions are Different than Banks in Bankruptcy

What is Cross-Collateralization?

The Debt Can Stay If You Cross-Collateralize

Do Credit Unions Debt Shame You?

What if Your Credit Union Vehicle is Over-Financed?

Complications from Credit Union Debts

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