Thomas Jefferson loved a lavish lifestyle. He was our 3rd President and author of the Declaration of Independence. He spent an enormous fortune constructing and furnishing his Monticello home. Jefferson served only the finest wines and a personal French chef prepared only the finest foods.
At the end of his life, Jefferson owed $100,000 in debt, about $1.6 million today! He was desperate for help. Without bankruptcy laws for relief, Jefferson attempted to create a “lottery” in which the winner would get title to Jefferson’s lands (including Monticello). Ticket sales were disappointing and Jefferson died with his daughter Martha inheriting the debt.
Are you living beyond your means? If your budget is negative every month, you may be living like Jefferson. Geraci Law could help you file a Chapter 7 or Chapter 13 bankruptcy. Without credit, you learn to live within a budget.
Jefferson did not have bankruptcy as a resolve to his financial problems. You do! Do not spend your golden years worrying about debt repayment. If you have debt, just dial 1-800-CALL-PFG for a free phone mini-consultation or log on to www.infotapes.com to make appointments online 24/7.
Read more at www.bankruptcybookbypeterfrancisgeraci.com
If you have a vehicle payment that is too high, it may be that you “rolled over” the balance on a vehicle you traded in, paying that off with part of the new loan. That means you are “upside down” and owe more than the vehicle is worth. That means your payment may be more than you can afford. Geraci Law helps our clients by developing relationships with honest car dealers who can sell you a vehicle you can afford at a payment you can afford. Here is what Gino Amoroso of Motor World in Glen Ellyn, Illinois has to say about working with Geraci Law clients:
Hello Scott, Just want to say thank you & keep you informed on how things are going. Currently this month we have sold eight customers referred by Geraci Law Firm: all were completely satisfied. The buying experience here at Motor World is the fast approval process and polite professional sales reps that create the ultimate buying experience. As an example today we did a complete brake job (pads & rotors) on a car we sold two months ago that was never promised to the customer: its the extra mile we go to keep our customers happy. As a result of our work ethics we are on target to hit a hundred sales this month, We enjoy a great working relationship with you and your organization Scott! That’s it.
Gino Amoroso http://www.mwcars.com
Your politicians made changes to the bankruptcy laws years ago to protect car finance companies. They seem to think that making it hard for consumers will help their finance companies. Although the politicians must have gotten some big contributions from GM’s captive finance company, GMAC, it didn’t stop General Motors from filing bankruptcy, did it? No!! So even though your Senators and Congress people try to make it hard on us, you can still get help as a working person if you are overwhelmed with debt because of job loss, illness or whatever life brings. Car loans are now going 60 to even 84 months. Used car rates can be 21%. So if you have a high interest car loan, and the car is worth less than you owe on it, here’s the deal in Chapter 13 bankruptcy:
1. If your bought the vehicle more than 910 days (2.5 years ago), you can offer to pay the actual value at prime rate plus 2%.
2. If you bought the vehicle less than 910 days, you have to pay the remaining loan on it, no reduction in value, but can still pay less interest.
Either way, you get a better deal, and still get to handle your other debt, and pay your vehicle ahead of other debts, so the car gets paid off faster, while the other creditors wait. Have a co-signer? Only way to protect the co-signer is pay the loan as written, either inside your bankruptcy, or “outside”. Geraci Law restructured or discharged over $1.5 billion in debt last year. Visit us at http://www.elimadebt.com