Chapter 3 – What Causes People to Need to File Bankruptcy

An excerpt from Attorney Peter Francis Geraci’s “The Complete Book on Bankruptcy.”

Chapter 3 – What Causes People to Need to File Bankruptcy

Below is an excerpt from Attorney Peter Francis Geraci’s “The Complete Book On Bankruptcy.”  You can read the rest of the book online at https://www.bankruptcybookbypeterfrancisgeraci.com/.

If you need help or have questions – our experienced staff is ready to help. 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 5starsince November 2016!

CHAPTER #3 WHAT CAUSES PEOPLE TO NEED TO FILE BANKRUPTCY

This is an easy one. Because most stuff other than bankruptcy is fraudulent. That means someone somewhere, on the internet, or maybe in Russia, or maybe your own bank, wants your money, and will say anything to get it.

1. “bill consolidation” is usually a fraud scheme There is no way to “consolidate” all your bills into one lower payment you can afford, pay your vehicles and mortgage and tax debt first, and stop every single creditor from bothering you, adding late charges, or suing you. No way. None. Nada. Except for Chapter 13 bankruptcy. Oh, there’s that word again “bankruptcy.”

2. “Loan modification” Fraud schemes like “Legal Helpers Loan Modification” just stole people’s money and disappeared with millions. Banks usually string you along for months and lose your paperwork, making things worse. Then all they do is take your 30 year loan and turn it into a 40 year loan to “get” you a lower payment. Great, now you’ll die before you pay them off and they’ll get your house back after collection mostly interest payments.

3. “Credit Counseling” Possibly the worst fraud. Some of them pose as law firms. Some are “lawyers” who really should be in jail. Being a lawyer makes them try to take as much as the first year’s payments up front as fees”. They usually last a year before getting indicted and put out of business.

4. “Debt settlement” Definitely the worst. Run, do not walk, as fast as you can from these skunks. Legal Helpers Debt Resolution” and others stole $50 million or more and faded into the night. Their imitators are still around, and so are the lawyers involved. They only lost their law licenses for a couple years. Nice payday on your money!

All these schemes play on your guilty, embarrassment and confusion. They can’t stop late fees, repossessions, lawsuits, foreclosures, license suspension, or anything else. So, beware of “bill consolidation, mortgage modifiers, debt settlement and credit counseling”. We usually see folks who have paid $3,000 to $5,000 to bill consolidators, and have nothing to show to it, when they could have filed Chapter 7 or 13 and really solved their problems and gotten a true fresh start.

Bankruptcy is very predictable. Everything is in writing, and while there are a lot of stupid lawyers who do lose $3000 or $5000 of their client’s money in Chapter 7’s, and take Chapter 13 cases that fail quickly after they get paid, Geraci Law does not engage in shady practices. So why pay the same, and not get the name? Ask your friends and family, and even your boss at work. Chances are they’ll say, “talk to Geraci Law.”

Geraci Law Virtual Meetings

Geraci Law is handling meetings remotely. We make the process hassle-free. You do not need a computer – a cell phone will work for a virtual consultation!

Geraci Law Virtual Meetings

Geraci Law is working remotely and ready to help! Below are attorney meetings being conducted remotely. You do NOT need a computer to do a video meeting! A cell phone with a web camera works great.

If you schedule an appointment, we send you a link. All you have to do is click on the link to open up the FREE consultation with an experienced Geraci Law attorney. It’s really that easy.

Geraci Law Milwaukee & Racine Wisconsin Attorneys from the top, right to left – Attorney Rob Brynjelsen, Attorney Ann Kramer, Attorney Felicia Petroff, Attorney Kathryn MacKenzie, Attorney Andy Golanowski, Attorney Brent Berning, Attorney Joseph Blaha, Attorney Abraham Pinon, Attorney Robert Crowley, Attorney Peter Francis Geraci, Attorney Lisa Ellmaurer

EDWI Attorneys

Geraci Law Indianapolis & Muncie Indiana Attorneys  from the top, right to left – Attorney Rob Brynjelsen, Attorney Erik Dickinson, Attorney Lacey Faul, Attorney Bridget Spears, Attorney Robert (Bob) Fine, Attorney Peter Francis Geraci, Attorney Anthony Shull, Attorney Chad Garrapy, Attorney Patrick McNulty

SDIN Attorneys

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 5starsince November 2016!

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

 

Happy (belated) Mother’s Day!

Geraci Law hopes ALL moms had a great Mother’s Day!

Happy (belated) Mother’s Day!

To ALL moms we hope you had a GREAT Mother’s Day and enjoyed the day dedicated to you and all you do…and it’s a lot.
Single moms – the effort it takes to do it on your own is simply amazing. We are in awe of the work you do to make it all work.
Working moms – we admire juggling a full-time job and being the BEST mom you can be.
Sometimes even super moms need a little bit of help. We’re here for you.
Just give us a call at 800 CALL PFG.

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 5starsince November 2016!

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

 

Geraci Law Evergreen Park

Geraci Law Evergreen Park has an updated look! Give us a call to talk about your bankruptcy options at 800 CALL PFG.

Geraci Law is located at 3560 W 95th Street in Evergreen Park. We’re approximately two minutes west of Western Avenue at the north side of 95th and Central Park Avenue.  There’s a HUGE parking lot available so you do not need to worry about parking.

We updated the outside of Evergreen Park so it’s EASY to see from the street. Currently we are only meeting with clients via video and phone. In the future, we would love to see you in person on 95th. Until then, stay safe!

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 5starsince November 2016!

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

 

Geraci Law Reviews

Sample of Geraci Law attorney reviews. Call us – Geraci Law is open and ready to help you with your debt!

Geraci Law Reviews

KINAttorney Charles Kinzer, Geraci Law Joliet Office 

“The team at Geraci Law is wonderful, They were flexible with scheduling my meetings. During the meeting they fully explained everything to me so that I knew exactly how my case would be handled. I was nervous because I had filed bankruptcy a few years ago so I thought I would be judged. However, there was no judgment. The attorneys were understanding and nonjudgmental.”

CHKAttorney Ashley Chike, Geraci Law Chicago Office

“I came across the Geraci Law Firm after googling bankruptcy attorneys. I put in my information for a free consult and was assigned to Attorney Ashley Chike. She was able to answer all of my questions within that consult. I provided all the documentation she needed to be able to make a plan that would be suited for me after viewing all of my debts. After agreeing to file the bankruptcy with the Geraci Law Firm, Ashley was able to answer all of my questions pretty quickly (and I had many questions). I just love how the ease of the process was and no beating behind the bush on what to expect. I would definitely recommend the Geraci Law Firm, especially Ashley Chike.”

PARAttorney Jonathan Parker, Geraci Law Chicago Office

“Phenomenally simple and straightforward process. They made is the process incredibly simply and straight forward. The Client Corner site and app allowed me to get answers to my questions within a 24 hour period, and I was always aware of my case status and overall progress. A+ service!”

 

MELAttorney Mark Levine, Geraci Law Schaumburg Office 

“If you are having financial problems you should definitely go see Geraci Law and Mark L in Schaumburg! They are very easy to work with. Would recommend them for sure!”

 

 

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 5starsince November 2016!

Read ALL ABOUT DEBT RELIEF at www.bankruptcybookbypeterfrancisgeraci.com

IL Governor Suspends Service of Garnishment Summonses

Illinois Governor J.B. Pritzker suspends the service of wage deduction and garnishment summonses. What this means for you and why bankruptcy with Geraci Law might be a great option.

IL Governor Suspends Service of Garnishment Summonses

Governor J.B. Pritzker issued an executive order suspending the service of garnishment summonses, wage deduction summonses and citations to discover assets for consumers. This suspension is for the duration of the Gubernatorial Disaster Proclamation.

This means creditors in ILLINOIS cannot serve wage garnishment summons. It’s important to understand this is TEMPORARY. During COVID-19, the creditors are kept at bay. But creditors will be able to collect in the future. Plan for YOUR future. Consider your bankruptcy options now. Stop the creditor action before it even starts (or resumes).

Governor Pritzker has your back for now but when the suspension is lifted, these creditors WILL be back. Filing a Chapter 7 or a Chapter 13 will STOP the collections. Want to know your options? Geraci Law is open and filing bankruptcy cases. Give us a call to figure out a plan for your financial 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 25,000 5-star reviews 5starsince November 2016!

Read ALL ABOUT DEBT RELIEF at www.bankruptcybookbypeterfrancisgeraci.com

Happy Easter from Geraci Law!

Geraci Law staff wishes a Happy Easter and offers some shelter in place ideas.

Happy Easter from Geraci Law!

Geraci Law wishes you and your family a Happy & Safe Easter! It’s not the Spring or Easter we were expecting. If you are struggling financially right now, we’re here from you.

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 5starsince November 2016!

Read ALL ABOUT DEBT RELIEF at www.bankruptcybookbypeterfrancisgeraci.com

Some tips from Geraci Law Staff during shelter in place: 

Attorney Jason Kara – have a theme night – even though you cannot go to the beach, bring the beach to you!

JAK

John Senese – playing dress up is ALWAYS a good plan.

SEN

Elizabeth Doren – if you have preschoolers at home, buy activity books on Amazon or the Dollar Store for $3-$5.

EMS