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.

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 – Chicago Ashland & Jackson

Geraci Law office located at 234 South Ashland, Chicago, IL 60607 at the southwest corner of Ashland & Jackson. We’re are RIGHT across the street from Rush Hospital.

Geraci Law office located at 234 South Ashland, Chicago, IL 60607 at the southwest corner of Ashland & Jackson. We’re are RIGHT across the street from Rush Hospital.

The office is easy to get to for anyone living in the Chicago West Loop neighborhood, right near Teamster City. If you live in Chicagoland, getting to the Geraci Law Ashland office is hassle-free and easy!

You can schedule to meet us in person at the Ashland office. There’s plenty of street parking and easy access for anyone working at Rush Hospital. Geraci Law is located next to the Mexican Consulate!

Check out our office before the renovation!

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.

Consumer Debt is $15.6 TRILLION!

Check out the article posted at CNBC titled, “Consumer debt totals $15.6 trillion in 2021, a record-breaking increase,” @ Consumer Debt.

Check out the article posted at CNBC titled, “Consumer debt totals $15.6 trillion in 2021, a record-breaking increase,” @ Consumer Debt.

It’s mortgage debt, car debt and credit card debt. Take a look at your finances, are you struggling to pay OFF minimums? Break the cycle of paying the minimum payments only to use the credit again because your cash is gone.

Inflation is hitting everyone’s budget, interest rates on said minimum payments will most likely INCREASE later this year. Filing a bankruptcy can help YOU gain control back of your finances.

The best thing about Geraci Law – we will give you our best opinion. If bankruptcy makes sense, we’ll work WITH you to accomplish your goals. If bankruptcy is not your best option, we’ll help you come up with other options if we can. It’s as simple as a phone call.

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.

When Should I File For Bankruptcy?

The real question is, when you get in a situation where you can’t pay your bills, when should you eliminate or consolidate.

Read Chapter 5 of Attorney Peter Francis Geraci’s “Complete Book on Bankruptcy” below or at https://www.bankruptcybookbypeterfrancisgeraci.com/

The main causes are:

1. Financing lifestyle Buying things on credit can get out of hand

2. Failure to get raises Bills go up, but salary doesn’t. That is pretty common.

3. Illness When you’re ill, you can pay your bills

4. Bad luck Accidents, floods, fires, theft

5. Job loss Getting rehired often means taking a pay cut, now days

6. Gambling Yes, it’s a major cause of filing bankruptcy

7. Family Many solid working people are paying for family members debts

The real question is, when you get in a situation where you can’t pay your bills, when should you eliminate or consolidate. The answer is:

A. Before you spend your pension. The first thing many people do to pay bills is take a 401K loan or draw down their pension. Do NOT do that, because creditors cannot touch your 401K or pension. Bankruptcy laws protect your pension and 401K. No one can touch it. File before you think of using retirement funds to pay creditors.

B. When you lose a good job. There is an income test for Chapter 7. So if you lose a 100K a year job, why pay the credit cards unless you are going back to work right away. If you’re not back to work in 4 months, you might qualify for Chapter 7. But if you wait until you go back to work, you might not qualify, because now you make more than the median income, and your only remedy is Chapter 13 debt repayment, based on your income.

C. If illness and unpaid medical bills are your problem, wait until you are better, or have insurance before using up your right to file Chapter 7. If you are working and have ongoing medical that is unpaid, often Chapter 13 is a good idea, because it keeps your Chapter 7 option open.

D. If you simply aren’t making enough money, you should take my debtor education course, get out of debt, and learn how to budget. It just may be impossible to pay your debt on the salary you are making.

E. Don’t consider bankruptcy unless you can eliminate at least $10,000 in debt. It is just dumb to file any bankruptcy because you have a lawsuit for $4000. Settle it yourself. Save your bankruptcy for a real disaster.

***If three or more of the following apply to you, you should see a bankruptcy lawyer now.

***If more than 5 of the following apply to you, you should have already seen us 3 months ago!!!

_____My debt is over $10,000 not including a car or house.

_____My payments are over 25% of my take home pay.

_____I am frequently late on my payments.

_____I pay 20% interest on my debt.

_____I buy necessary items like food or clothing on credit.

_____I frequently get cash advances.

_____I am thinking about getting a loan to pay other loans.

_____ I have a lawsuit and over $10,000 in other debt I can eliminate.

_____Collection agencies are calling me.

_____I am “robbing Peter to pay Paul.”

_____My balances are not going down even though I make payments.

_____I have been turned down for more credit.

_____Payments are more than 1 month behind on more than one bill.

_____My driver’s license is suspended because of an accident.

_____I am working but paying other debts so I can’t afford car insurance.

_____My mortgage or rent is always late, or is behind.

_____We are getting divorced and have too many bills to pay.

_____I have medical bills over $20,000 that are not insured.

_____There is a garnishment or wage assignment on my check.

_____I owe income taxes I can’t pay now.

_____My car is worth much less than I owe.

_____I have no savings.

If none of these apply to you, congratulations!! You are living the American Dream.PREVIOUSNEXT

In Person Appointments

Many of our physical locations offer same day or next day meetings with Geraci Law experienced attorneys.

In June 2020, Geraci Law opened the doors again to help clients meet us in person. Since Geraci Law stayed open ready to help meet you face to face (mask to mask).

Many law firms do not offer an in person meeting, many bankruptcy attorneys do not have a physical office – Geraci Law does. Many of our physical locations offer same day or next day meetings with Geraci Law experienced attorneys.

Geraci Law are friendly, fast and efficient, we’ll accommodate you with a virtual appointment or happy to see you at our local offices. Best part? You can schedule online or by phone. Check us out at 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.

Geraci Law is OPEN in South Bend

Geraci is open in South Bend and ready to help YOU with your debt! We’re located at 1251 N. Eddy Street in Suite 200 inside the Eddy Street Commons Building directly across from Starbuck’s. The entrance is between TIAA and O’Rourke’s Public House.

You can schedule online @ https://www.infotapes.com/Bankruptcy/OfficeLocator or give us a call. We can meet you in person, we can meet virtually – whatever is easiest for YOU!

Check out PFG in South Bend @ https://fb.watch/aKFXn9Poxe/

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?

We will meet with you for free, run a free credit report, go over all your debts and budget, and give you advice on getting out of debt. We will file your case for low money down, and let you choose your payment schedule. We make getting debt free affordable and easy for you.

Check out below from Geraci Law’s web site @ https://www.infotapes.com/

Beware the lawyers that promise “$0/down to file Chapter 7”. It’s usually not completely true and you end up paying more overall in the end. It’s free to start with a Geraci Law attorney.

We will meet with you for free, run a free credit report, go over all your debts and budget, and give you advice on getting out of debt. We will file your case for low money down, and let you choose your payment schedule. We make getting debt free affordable and easy for you. If it weren’t true, we would not have over 30,000+ reviews from satisfied clients.

Additional resources:

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 Does Bankruptcy Filing Work?

Check out the Infotapes from Attorney Peter Francis Geraci. Watch below or @ https://www.infotapes.com/Bankruptcy/Infotapes

Organize Your Debt

1. How MUCH debt do you have? Is it around $10,000 or more in debt you can eliminate, like medical bills, lawsuits, credit cards, personal loans, repossessions? Make a list of all your debt and what it is for. You can find a form at Infotapes.com. Remember, some debts don’t appear on credit reports, so gather your bills, and even old debts can chase you for 5 or 10 years or more

2. What KIND of debt do you have? So if you have $10,000 or more in debt, is it the kind you can get rid of, or the kind you want to pay, like vehicles or credit unions, or is it just government student loans?

So, you can make a short list, using our form, you can get a free credit report to see what your creditors are reporting to credit bureaus.

Consult with a Law Firm

3. Get a free phone mini-consultation. You will need competent advice on whether Chapter 7 or 13 is right for the type and amount of debt, and also for your income level. Don’t make the mistake of thinking you can pick your Chapter, because you don’t know as much as Geraci Law’s highly experience attorneys.

4. Start uploading your documents. If we decide that we can help you, we’ll give you access to the Geraci Law ClientCorner, run an Experian soft-pull, get a Kelly Blue Book value on your vehicles, estimate your house value if you have one, and more. You can then upload necessary documents to our Geraci Law ClientCorner client portal, such as pay stubs, bank statements, contracts, bills and tax returns.

Meet with a Bankruptcy Lawyer for Free

5. Get a virtual or in-office interview and get your options, costs, and retain us, little or no money down. Figure a payment plan, and you’ve got yourself a lawyer! We’ll refer you to take a 20 minute online finance course, which costs $25. Take the course before you file. You can take my credit counseling course online for free to see what it’s like.

Review and Sign your Bankruptcy Paperwork

6. We’ll then prepare a bankruptcy petition of about 50 pages for you to review, and assemble the necessary documents you have uploaded, and after you sign it, we’ll file it with the Court.

File your Bankruptcy in Court

7. After we file in court, we’ll post all your documents on your secure Geraci Law ClientCorner portal, where you will get all your messages, instructions, documents, and even videos about your meeting of creditors and taking your second Debtor Education Course. The bankruptcy court requires you to take the second course to get a discharge. I teach it, and the Administrative office of the U.S. Trustee in bankruptcy certifies it. The court is one of the only courses actually taught by an experienced bankruptcy attorney.

Attend your Meeting of the Creditors

8. We will go with you, either by Zoom or in-person, to a brief interview with a Court appointed bankruptcy Trustee to go over your petition and approve it. If you filed Chapter 13, your plan will be confirmed and you will make the necessary monthly payment. If you filed Chapter 7, we will handle any paperwork with vehicles or mortgages you want to keep, and you will get a discharge around 4 months from date of filing.

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.

Heating Gas Prices Triple!

Inflation hurting everyone!

Read, “Heating Gas Prices Triple” a press release from Geraci Law. You can read this and more at https://www.infotapes.com/Press.

In Northern Illinois, not to mention Indiana and, of course, Wisconsin, Ohio, Michigan, etc., it’s cold outside right now! So, turn up your heat, but be prepared for a big natural gas bill (thankfully we have gas heat, not electric which is even more costly).

According to NICOR, the natural gas supplier, the price of a therm of natural gas in January 2021 was 29 cents vs. January 2022 is 61 cents per therm. DOUBLE

1)     Peoples Gas prices for October 2020 were 24 cents per therm and in October 2021, they are 72 cents per therm — a 198% increase. TRIPLE

2)     Nicor Gas prices for October 2020 were 28 cents per therm and in October 2021, they are 61 cents per therm — a 125% increase. MORE THAN DOUBLE

3)     North Shore Gas prices for October 2020 were 35 cents per therm and October 2021, they are 67 cents per therm — a 91% increase. JUST ABOUT DOUBLE

Geraci Law is increasing the budget expense for new Chapter 7 and 13 filings accordingly, so clients can meet their living expenses, and pay less to creditors under the “means test” that Democratic leaders (you know who) pushed through in 2005 to make debtors pay more to creditors. But with inflation, bankruptcy filings are designed to insure that debtors can pay their regular living expenses, before they pay creditors, or even discharge their debt so they can pay their gas bills. Thank your politicians for making it tough on everyone!

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.

Does Your Resolution Involve Debt?

No one wants to file for bankruptcy but life happens and that’s what the Fresh Start Button is for.

An article in The Washington Post titled, “Americans’ top five financial resolutions and how to make them stick” illustrates people’s WANT to budget and save. The author provides some good tips on how to make a budget and stick to it (the subheading – no you don’t need a budgeting app to control your spending is pretty good too).

This article does not account for large amounts of debt. Something in life happens where you are laid off, injured or just simply without the money to save. You use credit to survive and all of a sudden – you are stuck. Saving money becomes far more difficult when you are making minimum payments only to use your credit because your cash is gone.

THAT is where Geraci Law can help. No one wants to file for bankruptcy but life happens and that’s what the Fresh Start Button is for. So many clients are happy and relieved and are ABLE to:

  • Start a savings account. Think about it – if you are spending $600 per month on minimum payments, you eliminate the debt and you have THAT $600 extra per month. Put 1/2 away in a savings account and in a year – you are at $3,600 in emergency funds (put ALL into a savings account and you are at $7,200).
  • Invest – see the article. The author references a free course from the North American Securities Administrators Association (NASAA).

You cannot start saving until you deal with the debt problem. Geraci Law attorneys are ready to talk to you and review all of your options. Read the article at https://www.washingtonpost.com/business/2022/01/04/new-years-advice-to-keep-financial-resolutions/

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.

%d bloggers like this: