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.

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.

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.

Debt Settlement and Debt Consolidation vs. Bankruptcy

Is bankruptcy a better option for managing debt?

Debt settlement and debt consolidation rarely work in favor of consumers. There is no guarantee that they will work. So how does it work? Basically, debt settlement and consolidation companies have you pay them to settle your debts for you.

They have no special bargaining powers or authority to make your creditors settle. If a creditor does not want to settle, they can simply refuse, keep charging you late fees and interest, while you keep paying the settlement company to basically do nothing.

Bankruptcy gives you protection under the law. After your case is filed, the Federal Bankruptcy Court issues an Automatic Stay, which grants automatic and immediate protection from your creditors. From there on out, your debts are handled under court supervision and creditors cannot continue to charge late fees or interest.

Liz Weston from NerdWallet wrote a great article detailing why debt settlement and debt consolidation are BAD alternatives to bankruptcy, how they hurt you more in the long term.

The article is a few years old but still applies, check it out @ https://www.southbendtribune.com/story/business/2017/08/30/debt-settlement-a-bad-alternative-to-bankruptcy/46331397/

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

When Will Creditors Stop Bothering Me?

If you are having trouble with bill payments, you should get a consultation with an experienced bankruptcy attorney before you make more payments to creditors.

Check out Chapter 20 in Attorney Peter Francis Geraci’s “Complete Book on Bankruptcy.” This chapter is below, read more @ https://www.bankruptcybookbypeterfrancisgeraci.com/

CHAPTER #20 When Will Creditors Stop Bothering Me?

The minute the bankruptcy case is filed. In the meantime, don’t talk to them, leave them on the answering machine. If they call you at work, get their info, give them your home number, and say “My employer does not allow calls at work, please call me at home.” These are magic words under the Fair Debt Collection Practices Act that require them to stop calling you at work. You can tell them that!

After we have prepared a petition listing your debts and assets, and prepared answers to required questions about your personal actions in relation to money, the bankruptcy petition is filed with the Clerk of the Bankruptcy Court. Of course, your attorney fee must be paid in full, unless you have made other arrangements. After you have paid your attorney, you pay the filing fee, or court cost. It is about $300.00 (When I started practicing bankruptcy law, in 1974, the court cost was only $30.00.) This must be paid in the form of a money order or cashier check payable to the Clerk of U.S. Bankruptcy Court, since the Clerk does not take personal checks.

After the Clerk has stamped a bankruptcy case number, or docket number, on the petition, notice can be sent out to all creditors that you are under the jurisdiction of the Bankruptcy Court. Then, Federal law requires that all collection action stop.

After you have made up your mind what to do, I generally advise you to stop paying all creditors except the ones which will survive a bankruptcy. If you are having trouble with bill payments, you should get a consultation with an experienced bankruptcy attorney before you make more payments to creditors.

You may be wasting your money right now by making minimum payments on bills that don’t go down after you make the payment, or you may be paying money to creditors that you will get rid of, instead of creditors that you must pay.

It is important to understand that thinking about filing bankruptcy, or even talking about it, is not the same as giving money to an attorney and actually having a docket number assigned by the Clerk of the U.S. Bankruptcy Court. Even giving money to an attorney is not enough. The case actually has to be filed with the Clerk. It is then that the provisions of the Bankruptcy Code which protect you from creditor harassment, bill collectors, wage assignments and lawsuits come into effect.

Those provisions are briefly known as the “automatic stay” provisions. This protection is known as the automatic stay, because the Bankruptcy Code provides that all creditor action is automatically stopped, or stayed, when a petition is filed with the Clerk of the U.S. Bankruptcy Court. This “automatic stay” is truly automatic, and even if a creditor does not know a bankruptcy case has been filed, you are protected from their actions.

For instance, if money is taken out of our paycheck by a creditor after the date a bankruptcy petition has been filed, it must be put back as soon as you notify your payroll department that you were under the protection of the automatic stay provisions of the Bankruptcy Code at the time the money was deducted.

I routinely provide my clients with notices entitled “Automatic Stay”, which state the language of the Code. I mail them to the client when the case is filed, so that the client can notify payroll, if necessary, or tell the docket number to any bill collector who calls. Sometimes clients get these in the mail, and even though we have discussed it thoroughly, they call up and say, “What are all these papers? Do you mean I have to notify my creditors? What am I paying you for?

I then explain again that this is for your benefit, so that you quickly have something in your hand to give to anyone who wants proof that you have filed a bankruptcy petition. Creditors and payroll departments will immediately stop any action if they know definitely that a bankruptcy has been filed.

Problem: Keith has a wage assignment from a finance company, and all his creditor cards are behind and bill collectors are calling him constantly.

The Peter Francis Geraci Chapter 7 or 13 Solution: The filing of any bankruptcy petition stops all creditor action. When Keith’s bankruptcy case is filed, the wage assignment has to stop, and no one can even call him on the telephone.

Read ALL ABOUT DEBT RELIEF at www.bankruptcybookbypeterfrancisgeraci.com

Wage Assignments & Deductions and How You Can STOP Them!

Creditors can collect from you in several ways. A favorite way is to take money from your paycheck. Most states provide for both wage assignments and wage deduction orders. Internet loans are the WORST!

Did you know you can be sued for a credit card bill? A medical bill? A balance on a car that you voluntarily gave back? Creditors will file a LAWSUIT against you in attempt to collect the balance.

Below is Chapter 31 from Attorney Peter Francis Geraci’s “The Complete Book on Bankruptcy,” titled, “Wage Assignments & Deductions and How you Can Stop Them.” Read this and more @ https://www.bankruptcybookbypeterfrancisgeraci.com/

CHAPTER #31 Wage Assignments & Deductions and How you Can Stop Them

Wage assignments are voluntary authorizations many creditors make you sign when you make a loan. You are authorizing them to take an amount, up to 15% of your gross pay, if you don’t make your regular payments. Wage assignments last four weeks, and then must be renewed by the creditor. You get a warning before a demand is made on your employer.

Wage deductions are made after a judgment in court is entered against you, after a lawsuit. The creditor serves papers on your employer, who must then withhold 15% of your gross pay for about 10 weeks, and turn it over to the creditor.

Levies are used by governmental units. The IRS can take almost all of your paycheck. If you owe on a student loan, the state agency can take your income tax refund. If you work for the state, and owe on a state insured loan, they can take a large part of your paycheck.

A bankruptcy will stop all of these actions, even though most of the time, you have no defense to the collection efforts in the regular lawsuit in a state court. Bankruptcy also stops lawsuits. If the debt you are being sued for is one you cannot discharge in a bankruptcy, such as a recent student loan, you could pay it in a Chapter 13, or have your bankruptcy attorney make a deal to pay it after the bankruptcy gets rid of your other problems.

If the employer is holding money that was taken from your check, but it has not been turned over to the creditor, it may be possible to void the creditor’s right to get it, and have it turned over for your benefit. You should get a copy of the papers from your employer, and find out exactly how much has been taken and when it is due to be turned over.

If your only debt is one from a lawsuit, and you already have child support taken out, most states provide that no more than 15% of your gross can be subject to deduction. Therefore, if you are having 20% deducted for child support, no other deductions are permitted. Also, federal law provides that you cannot have a deduction if you make less than 30 times the minimum wage, so part time workers very often are immune from wage deductions.

If you are immune from wage deductions, the only thing a creditor can do is seize other property, such as bank accounts.

We get our first call from many clients when they receive a wage deduction summons or a wage assignment. This makes them realize that their problems are serious, and they then admit that they need help from a bankruptcy lawyer. If you are dumb enough to wait until you are sued, at least be smart enough to have some money saved to pay a bankruptcy attorney.

Problem: Chris has been sued, and now the creditor has a judgment, and issued papers that require the employer to take 15% of his paycheck to satisfy the judgment.

The Peter Francis Geraci Chapter 7 or 13 Solution: The filing of a Chapter 7 or Chapter 13 will stop any wage deduction the date the bankruptcy petition is filed. Chris got his mom to pay the attorney to do the bankruptcy, and he is giving her his tax refund when it comes back.

Read ALL ABOUT DEBT RELIEF at www.bankruptcybookbypeterfrancisgeraci.com

There is NO such thing as Judgment Proof!

Only someone who has discharged a debt in bankruptcy can be “judgment proof” as to that debt.

Wait? What? Absolutely no such thing as judgment proof. Below is an article written by Attorney Peter Francis Geraci. Read more articles by PFG @ https://w ww.infotapes.com/Articles

“Judgment proof” THERE IS NO SUCH THING. Only someone who has discharged a debt in bankruptcy can be “judgment proof” as to that debt.

Otherwise, it is a fallacy perpetuated by the uninformed.

Even if someone has only SS and no property to be attached, a creditor may file a suit, entering a judgment, garnish, record liens, establishing citation proceedings, seeking to garnish them, etc A debtor still has to appear in court and claim an exemption or appear at a citation so it does not turn into a rule to show cause or a body attachment.

Judgments remain for 10 years and can be renewed multiple times, and there is nothing preventing a creditor from collecting on a judgment with property acquired in the future. Often, debtors do not want to deal with all of this, and that is why they file bankruptcy. It is entirely false for someone to allege a debtor does not need to file bankruptcy because they are “judgment proof.”

Read ALL ABOUT DEBT RELIEF at www.bankruptcybookbypeterfrancisgeraci.com

Credit Score & Bankruptcy Misconceptions

Geraci Law is here to help. Sometimes it’s just admitting that you need help as the first step. We’re happy to talk to you about debt, credit scores and how to achieve your financial goals.

There’s a misconception of bankruptcy being the end all, be all to your financial future. In practicality it’s the opposite for most people. It’s simply relief and the opportunity to start again. The question you do not want to ask is, “will bankruptcy ruin my credit” but rather “can I pay off my debt in full?”

Bankruptcy is not the end of your future. The crazy thing is you will most likely get MORE offers after filing for bankruptcy than you do now. Creditors love you in debt. If you are making the minimum payments every month, your cash is gone forcing you to use the credit again. Another minimum payment paid, another tank of gas charged and the debt cycle continues.

What bankruptcy WILL do is eliminate your obligation to a debt balance. You have a fresh start – you are back to square one where the money you were paying out to interest (maybe late fees) is back in your pocket.

You can start a savings account!

You can rely on a budget to meet the household expenses!

You can save to buy a car for cash!

You could save to buy a house after bankruptcy!

You are no longer reliant on credit for simple survival. It’s absolute freedom from the debt cycle.

There’s a misconception of I NEED A CREDIT CARD. You don’t. If you do – there are several options like a secured credit card if you want to keep the plastic. Debit cards are wonderful tools to stick to a budget.

Check out these debt calculators. Almost all billing statements will show the total balance and your interest rate.

https://www.creditkarma.com/calculators/debtrepayment

https://www.nerdwallet.com/article/finance/debt-snowball-calculator

https://www.bankrate.com/calculators/credit-cards/credit-card-payoff-calculator.aspx

Geraci Law is here to help. Sometimes it’s just admitting that you need help as the first step. We’re happy to talk to you about debt, credit scores and how to achieve your financial goals. Check out an article written by Attorney Peter Francis Geraci @ https://www.infotapes.com/articles/news/65/does-chapter-7-or-13-bankruptcy-ruin-my-credit/

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

Do You Live in a Bankruptcy Assistance Desert?

Below is an article written by Attorney Peter Francis Geraci titled, “Do you live in a Bankruptcy Assistance Desert?” You can read more articles by Attorney Geraci at https://www.infotapes.com/Articles.

Below is an article written by Attorney Peter Francis Geraci titled, “Do you live in a Bankruptcy Assistance Desert?” You can read more articles by Attorney Geraci at https://www.infotapes.com/Articles.

Do you live in a “Bankruptcy Legal Desert”? According to the American Bar Association’s 2020 Profile of the Legal Profession, you may. 40% of America’s counties have less than 1 lawyer per 1000 residents, and some have way less.

And it gets worse depending on what you need a lawyer for. An article in the Indiana Lawyer journal says “simply having lawyers in a county doesn’t guarantee they are available to the public”, because many work for governments or corporations.

Depending on what you need an attorney for, it may be a real problem. You may have to drive for an hour, or even longer, to the location of an attorney that is able to represent you in a specific matter.

Take bankruptcy, for instance. Outside of major cities, there are usually only 1 or 2 lawyers who practice consumer bankruptcy law. And often, they don’t do much of it, only a case here and there, and may do only Chapter 7 cases, not Chapter 13 repayment plans which are at least 1/3 of bankruptcy filings nationwide.

One reason is, once you get away from the “big city”, there aren’t a large number of bankruptcies, because the population is thinner. In sparsely populated areas, there may not be any lawyers for any particular kind of matter. The lawyers in those counties, therefore, don’t get the experience of an attorney who practices exclusively in bankruptcy court.

They may be excellent lawyers, but your options are very limited, both by the lack of lawyers, and the lack of lawyers who actually practice bankruptcy law. It used to be even worse for bankruptcy, because the bankruptcy courts are Federal courts, and usually only located in downtown office buildings in the largest cities, such as Orlando, Indianapolis, Chicago, and Milwaukee.

Chapter 13 trustees for an entire region of millions of people may be 2 hours away from those living outside the downtown areas. Lawyers, as well as clients, had to waste an entire day traveling to court, standing around waiting for a hearing, and getting back to the office or home. But not any more!

What happened? COVID! Lawyers and courts discovered Zoom, and learned how to keep the courts running remotely, or “virtually”. Geraci Law was providing remote, or “virtual” bankruptcy services to its clients for years. Geraci Law bankruptcy clients enjoy the Geraci Law “Client Corner” client portal, and can set virtual or office appointments, message their attorney, sign and upload documents, and even attend bankruptcy hearings, remotely, on their cell phones!

This means that if you live in a rural area, or even in a big city, you don’t have to battle rush hour, find a sitter, take a day off work, or drive an hour to find a bankruptcy lawyer.

All you need is your cell phone or computer. Geraci Law is available to help you virtually! Use the Geraci Law Office Locator at www.infotapes.com to find a virtual or physical Geraci Law office near you. Get your basic information by going to www.bankruptcybookbypeterfrancisgeraci.com and using the Search tool. You’ll find the answers to the most often-asked bankruptcy questions, before you call to become a Geraci Law client, and get debt-free!

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

Stop Lawsuits!

Geraci Law can help you STOP a lawsuit with a Chapter 7 and Chapter 13. We can help with foreclosure, wage garnishments and judgments.

Stop Lawsuits!

Did you receive a notice about a lawsuit in the mail? Did the Sheriff knock on your door and hand you a summons? Are you worried about foreclosure and your home?

Geraci Law can help you figure out what your options are regarding past due balances. We offer bankruptcy as an option to STOP the lawsuit.

Filing a Chapter 7 or Chapter 13 bankruptcy will stop a lawsuit from a creditor. Geraci Law offers FREE consultations with our experienced attorneys to help you figure it out. Filing a bankruptcy can prevent:

Foreclosure
Garnishment
Judgments
Liens against personal property or bank accounts

If you are being garnished already or if a default judgment is already entered, filing a bankruptcy can STOP any future collections. If there is a suit filed, NOW is the time to consult with a Geraci Law bankruptcy attorney. We can advise if bankruptcy is a solution to your problem.

Even if you are getting threats for a lawsuit from collection agencies, give us a call. Solve the problem before a lawsuit is filed on public record. Geraci Law is happy to meet with you via video, in office or by phone.

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!)

Attorney 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.

Attorney 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.

Attorney 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.

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

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Is bankruptcy a better option for managing debt?

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CHAPTER #20 When Will Creditors Stop Bothering Me?

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CHAPTER #31 Wage Assignments & Deductions and How you Can Stop Them

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Stop Lawsuits!

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Geraci Law Helping Madison, WI

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