Tag: credit card

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.

Credit Concern? Call Geraci Law!

Banks are cutting access to credit. Are you overwhelmed with bills? Are you worried about debt? Call Geraci Law.

Credit Concern? Call Geraci Law!

Have you noticed your available credit is cut? Did you see an account get closed? Credit card companies are cutting available lines of credit. Over 30 million people applied for unemployment as a result of the pandemic.

With the number of people unemployed, banks consider credit too big of a risk. So if you are late with payments, if you haven’t used the card – odds are the credit line will be cut.

If you are RELYING on credit to get you to the next paycheck, it’s not a great long term plan anyhow. Instead consider bankruptcy.

The cash you are spending on minimum payments that is NOT paying off the balances with interest could be the money you have as a safe hold. Create a budget and stick to it but you can’t create a budget until you deal with the past due balances.

Filing for bankruptcy is a FASTER way to handle your debt. Credit counseling, making minimum payments will cost you THOUSANDS in interest and it could take YEARS to pay off the balances. Your credit score still takes a hit and typically will take LONGER to get on the path to rebuilding.

You do NOT need credit cards. Realigning your budget and using a debit card could save you thousands. If you want a credit card, then pay it off every month. Only use the credit card for what you can pay off so you can AVOID interest. That timely payment every month can help you reestablish a payment history.

So if your credit line is cut, if your cards are maxed out, if you are simply overwhelmed by the debt – call us. It’s a free conversation that can change your life for the better.

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.

Feeling Sick? Stay Home with a Financial Plan for Success!

Missed work? No savings ? Geraci Law could help.

Feeling Sick? Stay Home with a Financial Plan for Success!

When you live paycheck to paycheck, a missed shift or a sick day creates a budget explosion. The loss of income could mean a minimum payment is shortened or even a missed car payment. If this is your situation – you should call Geraci Law immediately.

Think about how much you are paying in just minimum payments. Are you paying off the balances or do you have a “Band-Aid” for a debt wound? Filing a Chapter 7 to eliminate your debt WILL help. Instead of cycling the credit use and debt, you can start a savings account. So if you have a sick day, you have a fall back plan that doesn’t include using the credit cards. Read more about stopping the debt cycle.

It’s not just missed time – it’s the medical bills. Even if you are insured, a trip to the hospital for flu-like systems could cost you copays. In addition, a trip to the hospital may not cover all the expenditures and testing.

Medical debt is DISCHARGEABLE with a Chapter 7 or Chapter 13 bankruptcy. You may be better off waiting until all treatment is received before filing. But that’s why it’s important to call and speak with an experienced professional at Geraci Law.

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

Break the CYCLE of DEBT!

Let Geraci Law help you break the “CYCLE OF DEBT!”

Break the CYCLE of DEBT!

The “CYCLE OF DEBT” is overwhelming and burdensome. You get into a vicious circle of PAYING your minimum payments but then are forced to use credit for essentials like groceries, gas and others.

You continue to pay and then spend and then pay and then spend. Once you add in interest, a small bill turns into a very large snowball. Geraci Law can help you STOP the cycle! We can help credit counsel and create a budget for you after filing for bankruptcy. Sometimes it’s a simple as saying, “I need help.”

Not sure? Don’t know how much credit costs when you are only making minimum payments? Take a look at your credit card statement. You should see something like below.

CC Bill

In the example above, by making ONLY the minimum payments, it will take 15 years to pay off the debt! Look at the number next to the time, the $3,666.42 balance increases to $9,693. It’s nearly THREE TIMES the amount borrowed.

Filing for bankruptcy STOPS the cycle. You eliminate your debt and put yourself on better financial footing. Instead of using credit cards, you can use the cash you are spending on minimums. Instead of paying nearly $6,000 in interest, you could SAVE money.

You should never budget or financially plan based on the hope things will get better in the future. Break the cycle and consider bankruptcy. Geraci Law is here to help YOU deal with the present. We’re here to figure out a solution to your debt problem and assist you in getting back on track financially.

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

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