Bankruptcy Can Help You Plan for Retirement!

Instead of paying credit cards, you should be paying yourself!

Check out this article written by Peter Francis Geraci and more articles at https://www.infotapes.com/articles!

Most Americans know nothing about bankruptcy law even though it is in the United States Constitution. They don’t know how to get rid of their debt. That is no accident, since all the financial education courses, when they are required in high school, deliberately do not teach anything about bankruptcy law. You can take my debtor education course by logging onto http://www.pfged.com, or more if you want to spend two hours getting educated.

One thing I teach in my debtor education course is that you should start worrying about retirement early. If you don’t have at least your annual salary saved up by age 30, you are not on track to retire by age 67 very few Americans have their salary saved up by age 30. Very few are putting 5000 or more into an IRA every year but a lot of Americans are paying 5000 in credit cards minimum payments every year.

So if your credit card minimum payments are $500 a month, that is 2% your credit card debt, is probably around 25,000. If you file a bankruptcy case, or chapter 7 for immediate discharge, or chapter 13 to repay with no interest, sooner or later you will have no credit card debt, and can put that 500 a month in an IRA you will have $6000 a year. That means in the next 10 years you will have at least $60,000, even if the IRA does not increase in value.

Some financial educators also say that by age 40 you should have three times your annual salary saved. Another rule of thumb is to multiply your living expenses at 25 to see how much money you will need to retire, and last 25 years in retirement. Here’s how that works: if your expenses are 2000 a month or 24,000 a year, five times that is about $600,000. So by the time you are 65 years old should have $600,000 saved. I can you possibly do that? Well if to save $6000 a year or 30 years just to get $180,000. But if you invested 6000 a year and a dividend paying stock, paid a 4% dividend, would get the benefit of compound interest, and possibly also an increase in the stock price, and over 30 years your money just might triple.

If you are paying $500 a month in minimums and credit cards you will pay the credit cards off in about 22 years. That’s a lot different than having hundred $80,000 in savings 20 years from now, isn’t it? That’s why people that file bankruptcy truly get a fresh start, if they take my debtor education course, they learn how to retire with the pension or IRA of at least $200,000. More information is at http://www.infotapes.com.

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 35,000 5-star reviews since November 2016!

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

Debt Surges and So Does Inflation

Geraci Law reports increase in pressure on retired workers!

Read the press release below from Geraci Law – you can read additional news @ https://www.infotapes.com/Press.

As if we can’t see it ourselves, the Federal Reserve reports that consumer debt levels increased 14% in March 2022. Credit card debt and other revolving debt increased by 21.4%.

Revolving credit, which includes credit cards, surged by 21.4%.

Food is up 10%, and gas is up 25% over a year ago. Pension payments have not increased, the stock market is down 20%, and social security payments are up only 5% or less.

At Geraci Law, we have seen this cycle before. Geraci Law is one of the oldest and largest debt relief agencies in the country, with roots going back to 1977. This data indicates that the cost of living will increasingly outstrip the ability to pay debt, in the coming months.

“It usually takes 2 years for consumers to realize they should eliminate or consolidate debt using either Chapter 7 or 13”, says Geraci Law founding member attorney Peter Francis Geraci.

“Bankruptcy filings are at a historic low, and borrowing is at a historic high, with the good feelings of a stock market bonanza all but gone.” Geraci Law is seeing an increase in Chapter 13 debt repayment plans filed by retired persons, and those approaching retirement. “Retirees and fixed income individuals are the canaries in the coal mine, the first to suffer from inflation and high debt repayments”, said Mr. Geraci.

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

How to Retire with a $250,000 Pension!

So, if you’re smart, you’ll think about filing Chapter 7 now.

And retiring “rich” with a $250,000 pension that will give you an extra $2000 a month when you are old, until you are 92.

Are you over 50, and don’t have a pension? According to a report by the Retirement Equity Lab, over 1/3 of older Americans are just like you… doomed to retire on Social Security.

It’s even worse if you have debts you are paying, even though you could get rid of them now, and start funding an IRA for yourself.

Minimum payments on credit card debt of $500 a month will keep you in debt for the next 23 years. Read your credit card statement, it tell you. How old will you be then?

If you qualify to file Chapter 7 bankruptcy for only 4 payments of $500 or so, you will have no credit card debt on discharge 4 months from now.

You can then put 500/month into an IRA, or $6000 a year for yourself that you would have just paid out for interest.

Adding another $500 to it to reach the max contribution of $6500, and doing that for the next 23 years instead of paying $500 a month on debt, gives you $149,500 at age 72.

And that’s if you weren’t smart enough to buy a “blue chip dividend paying stock” every month, which would have given you another $100,000 in market gains and dividends without taxes.

So, if you’re smart, you’ll think about filing Chapter 7 now. And retiring “rich” with a $250,000 pension that will give you an extra $2000 a month when you are old, until you are 92.

Call Geraci Law to get out of debt fast, and “get rich slow”.

Hit the “Fresh Start Button” now! 1-800-CALL-PFG or log on to http://www.infotapes.com.

Read ALL ABOUT DEBT RELIEF at www.bankruptcybookbypeterfrancisgeraci.com

What Happens to My Credit?

Geraci Law answers 5 common questions about credit after filing for bankruptcy. What is “good” credit?

What Happens to My Credit?

Geraci Law answers 5 common questions about credit after filing for bankruptcy. What is “good” credit?

When can I apply for credit?

You can apply for credit after your case is discharged and closed. But should you apply for credit? You do not want to find yourself in the same position you just discharged in bankruptcy. You are a credit risk immediately after filing for bankruptcy. Creditors KNOW you filed for bankruptcy and after bankruptcy you have limited bankruptcy relief options. These creditors prey on you because you are a credit risk so you WILL get loan offers.

Any credit preapproval you receive will usually come with high interest rates. It may be better to NOT use credit. SAVE money, make house/car payments ON TIME, stay away from the high-interest credit debt and personal loans.

When can I buy a house?

You can apply for a home loan after your case is discharged and closed. Some people are approved while they are IN a bankruptcy. FHA loans might be an option. For a conventional loan, usually its two years after a bankruptcy discharge. Geraci Law is here to help with the process. If you need your bankruptcy paperwork – YEARS down the road, you can log into your Geraci Law Client Corner account to print. You can also search Geraci Law in your app store on your phone to download our Geraci Law app.

What happens to my credit score after filing Chapter 7? Chapter 13?

In your post-bankruptcy life, you should focus on rebuilding financially. Start with a savings account and build an emergency fund. If you have a car payment or mortgage payment, continue to make those payments ON TIME to work to reestablish a payment history.

You will get credit offers in the mail – do your research! Look at the interest rates – if you are going to use the credit, then make sure you pay off what you borrow every month. Do not accept the first offer that comes your way. Review the small print, stay away from the predatory lenders.

When can I buy a car?

After the bankruptcy is discharged and closed you can buy a car. If you are in a Chapter 13 right now, you need court approval if you are looking to FINANCE a vehicle. Craig’s List is a great option to buy a car for cash. You’ll get advertisements from car lots in the mail after bankruptcy – make sure to review the terms. Avoid the high interest, older vehicles without a warranty.

How do I rebuild credit?

Pay all of your bills on time! Timely payments prevent late charges and helps you reestablish a payment history.
Make sure all of your creditors are reporting to the three major credit agencies (Experian, Transunion, Equifax).
Dispute incorrect items on your credit report. Don’t ignore your credit report! All agencies have options to dispute right on their web site, make sure to follow up.
Make a large down payment – making a large down payment on any kind of credit make lenders more likely to grant a loan. Your goal should be to put down 20% of the total cost.
A small secured credit card is a really great way to build credit with very little risk.

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 25,000 5-star reviews since November 2016!

Read ALL ABOUT DEBT RELIEF at www.bankruptcybookbypeterfrancisgeraci.com

Retire Your Debt – Don’t Withdraw!

Retire From Your Debt With PFG

Many young people (as many as 6 out of 10 ages 18-34 from a E-Trade study in 2018) are taking money from retirement accounts to pay debt! The money is there so you CAN retire. Instead of raiding the retirement account, think of bankruptcy with Geraci Law.

Geraci Law attorneys and staff are financial experts. We’re here to figure out a plan to help with your debt WITHOUT withdrawing loans from 401Ks or other retirement accounts. You get control of your financial situation without paying the HUGE penalties and tax consequences for the early withdrawal.

Chapter 7 bankruptcy can eliminate your obligation to the debt. Geraci Law can help you protect assets (like a retirement account) and eliminate debt like credit cards, medical bills or personal loans. A Chapter 13 is a repayment plan to PAY the debt and make it affordable.

Make a hardship or 401K withdrawal your last resort. Do not take money from retirement unless you are RETIRING. Call Geraci Law first – our bankruptcy experts can help!

Read ALL ABOUT DEBT RELIEF 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?

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,
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.

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What Happens to My Credit?

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Retire From Your Debt With PFG

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