Welcome to the Geraci Law Podcast!

Are you struggling with overwhelming debt? Do you feel like you're drowning in bills and don't know where to turn? You're not alone. Bankruptcy can offer a fresh start and a path to financial freedom.

Based on attorney Peter Francis Geraci's book, this podcast breaks down Chapter 7 and Chapter 13 bankruptcy in easy-to-understand terms.

Don't Be Embarrassed, Nervous or Afraid
What is Bankruptcy?
Beware of Debt Relief Scams!
When Should I File for Bankruptcy?
What Do I Lose if I File Bankruptcy?
What Happens to My Credit Score if I File Bankruptcy?
What Can Bankruptcy Do for You?
What Does Bankruptcy Cost?
What is the Real Price Difference Between Bankruptcy Lawyers?
Can I File a Bankruptcy Without My Husband or Wife?
Will My Employer Find Out if I File Bankruptcy?
Does Chapter 7 or 13 Bankruptcy Ruin my Credit?
If I File Bankruptcy Can I Leave Bills Off?
Can I File Bankruptcy on Bills in Someone Else’s Name?
How Does Filing Bankruptcy Affect My Credit Union?
Can I File Bankruptcy if I Have Co-Signers?
What About My Car in Bankruptcy?
What Happens to My House in Bankruptcy?
When Will Creditors Stop Bothering Me?
Cross-Collateralization Agreements in Bankruptcy
Bankruptcy and Joint Accounts with Parents
When Do I Stop Paying My Creditors?
Gas, Cable, Electric, and Phone Bills
Bankruptcy and Divorce, Alimony, & Child Support
What Bankruptcy Won’t Solve
Chapter 13 Debt Repayment Plans
Will I Be Able to Get Credit Again After Bankruptcy?
Which is Better: Bankruptcy or Bill Consolidation Loans?
Bill Consolidation Scams

Don't Be Embarrassed, Nervous or Afraid - Episode 1

Don't be embarrassed about debt: Nearly 1 million people file for bankruptcy every year in the U.S., making it a common solution for financial struggles.
Don't be afraid: Geraci Law prioritizes your well-being and will only file bankruptcy if it improves your life. They emphasize that bankruptcy is a legal right designed to offer relief from debt.
Bankruptcy offers a fresh start: It allows you to eliminate debt and improve your credit score, enabling you to save and potentially purchase a home or car in the future.

What is Bankruptcy? - Episode 2

Bankruptcy is a legal process: It'd designed to provide debt relief for individuals and businesses.
Biblical and Historical Roots. Bankruptcy is rooted in principles of forgiveness and has been a part of legal systems for centuries. Even Abraham Lincoln practiced bankruptcy law.
A Legal Right. Filing for bankruptcy is a legal right in the United States, protected by the U.S. Constitution.

Beware of Debt Settlement! - Episode 3

Many debt relief programs, such as bill consolidation, loan modification, credit counseling, and debt settlement are scams. These schemes prey on people's guilt, embarrassment, and confusion about their debt. The companies behind these programs often collect fees without providing the promised services, leaving people in worse financial situations than before.
Debt relief schemes often target individuals who are struggling financially and may be hesitant to consider bankruptcy. For example, companies promising loan modification may string clients along for months, losing paperwork, and ultimately extending the life of the loan and increasing the total interest paid. Credit counseling firms may present themselves as trustworthy organizations or law firms but are often fronts for fraud, demanding large upfront fees for services they don't deliver.
Debt relief scams cannot provide the same legal protections and guaranteed outcomes as bankruptcy. Unlike bankruptcy, which offers a court-supervised process to address debt, these schemes can't stop late fees, lawsuits, foreclosures, repossessions, wage garnishments, or license suspensions. The sources argue that bankruptcy is a more reliable solution for achieving debt relief and financial freedom.

When Should I File for Bankruptcy? - Episode 4

When to File for Bankruptcy: This page examines the key indicators that suggest it might be the right time to consider bankruptcy. These signs include overwhelming debt, struggling to make payments, facing lawsuits or wage garnishments, and having depleted savings.
Understanding the Causes of Bankruptcy: The sources outline common factors that can lead to bankruptcy, including financing lifestyle, job loss, medical bills, and family responsibilities.
Protecting Your Assets in Bankruptcy: Learn how bankruptcy can help you protect your pension and 401(k) from creditors. The sources emphasize the importance of filing for bankruptcy before using retirement funds to pay off debts.
Choosing the Right Bankruptcy Chapter: The page discusses different chapters of bankruptcy, such as Chapter 7 and Chapter 13, and the situations where each might be the most suitable option. It also highlights the income test associated with Chapter 7 eligibility.

What Do I Lose if I File Bankruptcy? - Episode 5

Protect Your Assets: With Geraci Law, you can safeguard your home, car, and pension during bankruptcy—our experienced team ensures proper planning to keep what matters most.
Avoid Costly Mistakes: Inexperienced or "cheapo" lawyers often cost clients thousands by mishandling cases. Don’t let your tax refund or assets go to creditors unnecessarily.
Proven Expertise: Geraci Law has a track record of minimizing asset loss and maximizing client benefits in Chapter 7 and 13 cases.
Get the Right Start: Bankruptcy is a fresh start, and with Geraci Law, you can trust that your case will be handled professionally and predictably.

What Happens to My Credit Score if I File Bankruptcy? - Episode 6

Bankruptcy Can Boost Your Credit Score: For most individuals with scores below 600, filing bankruptcy often leads to a significant increase in credit score — sometimes up to 100 points — due to debt elimination and financial reset.
Improved Financial Stability: Bankruptcy discharges overwhelming debt, providing a clean slate that makes you a more attractive borrower to lenders.
Research-Backed Benefits: Studies by Harvard and the Federal Reserve confirm that bankruptcy filers often have better financial outcomes and improved access to credit compared to those who remain in debt.
Path to Future Purchases: After a Chapter 7 or 13 discharge, many filers can qualify for car loans or mortgages with the right job and savings for a down payment.

What Can Bankruptcy Do for You? - Episode 7

Eliminate Debt: Discharge credit card balances, stop interest accrual, and wipe out overdue taxes.
Immediate Relief: Stop creditor harassment, lawsuits, garnishments, and license suspensions.
Protect What Matters: Keep your home, car, personal belongings, and pension while reorganizing your finances.
Rebuild Financial Stability: Improve your credit score, access new credit, and start saving for your future.

What Does Bankruptcy Cost? - Episode 8

Bankruptcy is more affordable than staying in debt: A properly filed Chapter 7 or 13 can cost far less than paying off overwhelming bills.
Beware of "cheapo" lawyers: Hiring an inexperienced attorney can result in lost assets, hidden fees, and costly mistakes.
Geraci Law ensures your case is handled correctly: We protect your home, car, and wages while helping you get a fresh financial start.
Get a free consultation today: Don’t risk your future with bad advice. Talk to an expert and find out your best options!

What is the Real Price Difference Between Bankruptcy Lawyers? - Episode 9

Experience Over Price: The difference in attorney fees is small, but the difference in service can cost you thousands in lost assets or case mistakes. Choose a firm with a proven track record.
Beware of "Cheap" Lawyers: Low-cost attorneys may not properly handle your case, leading to hidden fees, lost assets, or costly errors. Quality legal representation matters.
Affordable Payment Plans: Chapter 7 fees can be paid in installments, and Chapter 13 cases often require little to no upfront cost, with payments as low as $95 biweekly.
Trusted, Proven Legal Support: Geraci Law is the largest consumer bankruptcy filer in America, offering electronic record-keeping and long-term client support.

Can I File a Bankruptcy Without My Husband or Wife? - Episode 10

Can You File Bankruptcy Alone in a Marriage?: Understand the factors that determine whether one spouse can file independently or if a joint filing is necessary, including household income and shared debts.
Joint vs. Separate Filing: Explore the pros and cons of filing together as a couple or separately, and when each option might be more beneficial based on your unique financial situation.
Community Property and Pre-Marital Debt: Learn how community property laws affect bankruptcy in certain states and how pre-marital debt can be handled without involving your spouse.
Non-Dischargeable Debts and Legal Risks: Get insights into non-dischargeable obligations like alimony, child support, and fraudulent debt schemes that could impact your bankruptcy filing.

Will My Employer Find Out if I File Bankruptcy? - Episode 11

Will Filing Bankruptcy Affect My Job?: Learn why your employer is unlikely to find out about your bankruptcy, and how bankruptcy filings are typically kept confidential unless required for payroll deductions.
Chapter 13 vs. Chapter 7: Understand the differences between these two bankruptcy options and how payroll deductions in Chapter 13 are handled, with ways to keep your filing private in smaller companies.
Real-Life Examples: Discover how filing for bankruptcy can relieve job-related stress by stopping creditor harassment and wage garnishments, with real-world scenarios where bankruptcy helped employees maintain financial stability.
Employer Support for Bankruptcy: Many employers encourage employees to file bankruptcy to resolve financial issues, and some may even refer employees to bankruptcy lawyers for assistance.

Does Chapter 7 or 13 Bankruptcy Ruin My Credit? - Episode 12

Does Bankruptcy Ruin Your Credit? Filing Chapter 7 or 13 doesn’t destroy your credit—it helps eliminate overwhelming debt, giving you a fresh financial start.
Rebuilding Credit is Possible! Many people qualify for car loans, credit cards, and even mortgages within a few years after filing bankruptcy.
Myths vs. Reality: Don’t fall for misinformation! Bankruptcy can actually improve your financial future by wiping out unmanageable debt and stopping creditor harassment.
Expert Legal Guidance: Only a licensed bankruptcy attorney, like those at Geraci Law, can give you the right advice to protect your assets and make the best decision for your future.

If I File Bankruptcy Can I Leave Bills Off? - Episode 13

Full Disclosure is Required: You must list all debts and assets in your bankruptcy petition. Hiding property, leaving out debts, or making transfers before filing can lead to serious legal consequences—even jail time.
Creditors Must Be Notified: Every creditor, including family members you owe money to, must be listed. If you have a car loan and want to keep the car, you must inform the lender and sign a reaffirmation agreement.
No Picking & Choosing Debts: While you can voluntarily repay certain debts after filing, all debts must still be listed in the petition. Even credit cards with a $0 balance may be closed once creditors review your social security number.
Bankruptcy Can Offer a Fresh Start: Filing for Chapter 7 or Chapter 13 can eliminate overwhelming debt while allowing you to keep important assets like your home and car—if handled correctly with proper legal guidance.

Can I File Bankruptcy on Bills in Someone Else’s Name? - Episode 14

Bankruptcy and Joint Debt: You can file for bankruptcy on joint bills, but your co-signer may still be responsible unless you continue paying the debt.
Hidden Financial Agreements: If you promised to pay someone else’s debt but your name isn’t on the account, the creditor cannot pursue you, but your obligation to the other person should be disclosed in bankruptcy.
Property in Someone Else’s Name: Assets purchased under another person’s name—like a car or loan—must be disclosed in your bankruptcy filing, even if you are the one paying for them.
Honesty is Key: Attempting to hide assets or financial obligations in bankruptcy is illegal and can have serious consequences. Always disclose any financial agreements or transferred property.

How Does Filing Bankruptcy Affect My Credit Union? - Episode 15

Cross-Collateralization & Loan Repayment: Credit unions often require full repayment of all loans tied to an asset, meaning if you file bankruptcy on a credit card, you may still need to pay off a car loan to keep your vehicle.
Impact on Membership & Co-Signers: Some credit unions may blacklist members who cause financial losses, and co-signers on loans may still be liable unless properly handled through bankruptcy.
Payroll Deductions & Pension Security: Credit unions may automatically deduct loan payments from paychecks, but bankruptcy can stop these deductions. Additionally, some credit unions claim security interests in pension distributions, which may be legally challenged.
Chapter 7 vs. Chapter 13 Solutions: Filing Chapter 7 may eliminate personal liability while allowing voluntary repayment to protect co-signers, whereas Chapter 13 offers structured repayment while ensuring fair treatment of all creditors.

Can I File Bankruptcy if I Have Co-Signers? - Episode 16

Yes, You Can File Bankruptcy with a Co-Signer: Filing for bankruptcy does not prevent you from having a co-signer, but you must decide whether to discharge the debt or continue paying to protect them.
Options for Protecting Your Co-Signer: In Chapter 7, you can keep paying the co-signed debt voluntarily. In Chapter 13, you can create a special payment plan to prioritize co-signed debts.
What Happens to Your Co-Signer?: If you discharge the debt in bankruptcy, your co-signer may still be responsible for repayment unless they also file for bankruptcy.
Get Expert Guidance: Every situation is different. A Geraci Law attorney can help you explore your best options to manage co-signed debts while achieving financial relief.

What About My Car in Bankruptcy? - Episode 17

Keep It or Let It Go: Bankruptcy can help you keep a car with reasonable payments or get rid of an expensive, bad car loan without owing more money.
Car Loans & Reaffirmation: If you want to keep your car, you may need to reaffirm the loan, stay current on payments, and maintain insurance.
Surrendering a Vehicle: If you owe more than the car is worth or have high payments, surrendering it in bankruptcy can wipe out the debt and let you start fresh.
Getting a Car After Bankruptcy: Many people finance a car after filing bankruptcy, sometimes with better terms than before—especially if they save up for a down payment.

What Happens to My House in Bankruptcy? - Episode 18

Keep or Surrender Your Home: Bankruptcy can help you catch up on mortgage payments through Chapter 13 or allow you to walk away from an unaffordable home in Chapter 7 without personal liability.
Stop Foreclosure: Filing for Chapter 13 can halt foreclosure proceedings and give you time to repay missed payments while keeping your home.
Debt Relief While Keeping Your House: If you’re current on your mortgage but struggling with other debt, Chapter 7 can eliminate unsecured debt (like credit cards and medical bills) so you can focus on your house payments.
Protecting Home Equity: If your home has significant equity, you may need a Chapter 13 repayment plan to prevent creditors from claiming it. A professional bankruptcy attorney can help determine the best approach based on your situation.

When Will Creditors Stop Bothering Me? - Episode 19

Immediate Relief from Creditors: The automatic stay goes into effect the moment you file for bankruptcy, stopping all collection calls, wage garnishments, lawsuits, and repossessions.
Know Your Rights: Under the Fair Debt Collection Practices Act, you can legally stop creditors from calling you at work and harassing you.
Timing Matters: Consulting a bankruptcy attorney before making unnecessary payments can save you money and ensure you're protecting essential assets.
Real-Life Solutions: Bankruptcy can eliminate debt, protect wages, and help you regain financial control—whether through Chapter 7 or a Chapter 13 repayment plan.

Cross-Collateralization Agreements in Bankruptcy - Episode 20

Cross-Collateralization Risks: Many banks and credit unions have agreements that allow them to seize money from your accounts if you default on a loan with them.
Protect Your Money Before Filing: Move your direct deposits and open new accounts at a different bank before filing bankruptcy to prevent unexpected withdrawals.
Joint Accounts Are at Risk: If you're a joint owner on a relative’s account, their money could be taken to cover your debts.
Real-Life Example: Learn how John avoided losing his paycheck by taking the right steps before filing for bankruptcy.

Bankruptcy and Joint Accounts with Parents - Episode 21

Joint Accounts & Bankruptcy Risks: If you share a joint account with a parent, creditors may attempt to claim those funds during bankruptcy, even if the money isn’t yours.
Better Banking Alternatives: Instead of joint tenancy, consider Payable on Death (POD) accounts or authorized signatory arrangements to protect family assets.
Steps to Take Before Filing: Moving funds to a properly structured account and disclosing all financial changes can help avoid legal complications.
Real-Life Bankruptcy Solutions: Learn how strategic legal planning can prevent family savings from becoming part of the bankruptcy estate.

When Do I Stop Paying My Creditors? - Episode 22

When to stop paying creditors: Learn when it's appropriate to stop paying credit cards and other unsecured debts once you file for bankruptcy, and when to prioritize essential living expenses.
Chapter 7 vs. Chapter 13: Understand how to navigate secured and unsecured debts in both Chapter 7 and Chapter 13 bankruptcy to protect your assets and manage your obligations.
Handling non-dischargeable debts: Get guidance on how to deal with student loans, IRS taxes, and other non-dischargeable liabilities during bankruptcy.
Real-life example: Follow a practical scenario of a couple deciding between Chapter 7 and Chapter 13 to manage their debt and keep their car.

Gas, Cable, Electric, and Phone Bills - Episode 23

Handling Utility Bills in Bankruptcy: Learn how bankruptcy can help clear past-due gas, electric, and phone bills, preventing service shutoffs and offering a fresh start.
Reinstating Services: Understand the process of getting utility services like electricity and gas restored after being disconnected due to unpaid bills.
Cell Phone and Cable Providers: Discover how bankruptcy affects cell phone and cable services and what steps to take if service has been turned off.
Addressing Deeper Financial Issues: Recognize that unpaid utility bills may indicate ongoing financial struggles, and why it's essential to plan for long-term financial stability after bankruptcy.

Bankruptcy and Divorce, Alimony, & Child Support - Episode 24

Bankruptcy & Divorce Timing: Filing for bankruptcy before divorce can help eliminate joint debt and prevent financial disputes during the divorce process.
Non-Dischargeable Debts: Child support, alimony, and certain property settlements cannot be wiped out in bankruptcy, but some marital debts may be discharged in Chapter 13.
Joint Bankruptcy Benefits: A joint Chapter 7 filing before divorce can help both spouses start fresh, eliminating the need to argue over who pays shared debts.
Legal Considerations: Divorce courts can still enforce some financial obligations post-bankruptcy, so consulting both a bankruptcy and divorce attorney is crucial for the best outcome.

What Bankruptcy Won’t Solve - Episode 25

Bankruptcy Isn’t a Fix for Everything: While it can eliminate credit card debt and medical bills, it won’t erase obligations like rent, student loans, or child support.
Too Poor to Go Bankrupt? If your income is too low to cover basic living expenses, bankruptcy may only solve part of the problem. Increasing income might be necessary.
Chapter 13 Can Help Restructure Debt: For those with steady income, a Chapter 13 plan can lower car payments, reduce unsecured debt, and create a structured repayment plan.
Real-Life Bankruptcy Solutions: Case study examples show how different financial situations can be handled through Chapter 7 or Chapter 13 bankruptcy.

Chapter 13 Debt Repayment Plans - Episode 26

Understand Chapter 13 Bankruptcy: Learn how Chapter 13 allows you to consolidate debts into a single monthly payment, providing protection from creditors and giving you the chance to catch up on missed payments.
Eligibility & Payment Plan Structure: Discover how payments are calculated and how Chapter 13 can help reorganize your finances with a plan lasting 3 to 5 years.
Keep Your Assets: Find out how Chapter 13 can help you keep your home, car, and other assets while repaying your debts, unlike other bankruptcy options.
Chapter 7 vs. Chapter 13: Compare the two bankruptcy options to determine which one suits your financial situation and long-term goals.

Will I Be Able to Get Credit Again After Bankruptcy? - Episode 27

Bankruptcy can offer a fresh financial start by clearing overwhelming debt, allowing you to keep essential assets like your home and car.
Chapter 7 and Chapter 13 provide different options for debt relief, including full debt discharge or structured repayment without interest.
Bankruptcy helps stop creditor calls and offers a path to rebuild credit, making it easier to regain financial control.
Filing for bankruptcy isn’t the end - it’s a new beginning, providing a way to escape a "life sentence" of debt and work towards a better financial future.

Which is Better: Bankruptcy or Bill Consolidation Loans? - Episode 28

Why Bankruptcy May Be Better than Bill Consolidation Loans: Understand why Chapter 13 bankruptcy often offers a more manageable, long-term solution compared to bill consolidation loans.
Real-Life Examples: Learn from cases where individuals who opted for bill consolidation loans ended up in worse financial situations, including high mortgage payments and negative amortization.
The Risks of Consumer Finance Companies: Discover how consumer finance companies may lure you into high-interest loans and how these can worsen your financial standing in the long run.
Consult an Experienced Bankruptcy Attorney: Get advice before committing to any loan or debt management plan to ensure you’re choosing the best solution for your unique financial situation.