Protecting Your Disability Income with Guest Efstathios Georgiou

Welcome to Season 1, Episode 32 of Winning Isn't Easy: Navigating Your Social Security Disability Claim. In this episode, we'll dive into the complicated topic of "Protecting Your Disability Income with Guest Efstathios Georgiou."

Navigating disability is never just about the medical or legal system - it’s also about facing financial pressures that can quickly become overwhelming. That’s where today’s guest, Efstathios Georgiou, steps in. As the founder and managing attorney of Georgiou Law, PLLC, Efstathios brings a unique perspective as a former bank attorney who now defends consumers against credit card debt lawsuits, protects their credit rights, and challenges predatory financial practices. For individuals already coping with the challenges of disability claims, financial hardship often compounds the stress. Efstathios has seen firsthand how medical crises can spiral into debt, lawsuits, or judgments, and he’s dedicated to equipping people with the tools they need to fight back. In this episode of Winning Isn’t Easy, Efstathios shares his insider knowledge and compassionate strategies for breaking the cycle of financial strain. You’ll hear his insights on the overlooked connection between disability and debt, practical ways to stand up to banks and collectors, and how addressing the shame around money struggles can open the door to stability. Whether you’re living with a disability, supporting a loved one, or advocating in the community, this conversation will leave you informed, empowered, and ready to protect your financial future. Because financial resilience is just as critical as medical or legal strength when navigating life with a disability.

In this episode, we'll cover the following topics:

One - Why Disability Income Protection Matters

Two - How the Law Protects Disability Benefits

Three - Practical Steps and Takeaways

Whether you're a claimant, or simply seeking valuable insights into the disability claims landscape, this episode provides essential guidance to help you succeed in your journey. Don't miss it.


Listen to Our Sister Podcast:

We have a sister podcast - Winning Isn't Easy: Long-Term Disability ERISA Claims. Give it a listen: https://wiedisabilitypodcast.buzzsprout.com


Resources Mentioned In This Episode:

LINK TO YOUR RIGHTS TO SOCIAL SECURITY DISABILITY: https://mailchi.mp/caveylaw/your-rights-to-social-security-disability-benefits

FREE CONSULT LINK: https://caveylaw.com/contact-us/


Need Help Today?:

Need help with your Social Security Disability claim? Have questions? Please feel welcome to reach out to use for a FREE consultation. Just mention you listened to our podcast.

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Please remember that the content shared is for informational purposes only, and should not replace personalized legal advice or guidance from qualified professionals.

Transcript

Nancy Cavey [00:00:11]:
 Hey, I'm Nancy Cavey, national ERISA and individual disability attorney. Welcome to this episode of Winning Isn't Easy, the Social Security Disability edition. Before we get started, I've got to give you a legal disclaimer. This podcast is not legal advice. The Florida Bar association says I have to tell you that. But now that I've told you this, nothing will ever prevent me from giving you an easy to understand overview of the Social Security disability system, the games, the carrier that the Social Security world plays, and what you need to know to get the disability benefits you deserve. So off we go today. Now I'm honored to welcome Estacios Giorgio, the founder and managing attorney of a law firm who is a a former bank attorney, but who now devotes his practice to defending consumers against credit card debt lawsuits, protecting their credit rights, and standing up to predatory financial practices.
 
 Nancy Cavey [00:01:06]:
 His mission is to empower everyday people not only through legal advocacy, but also by equipping them with financial literacy tools to safeguard their futures. For individuals navigating Social Security disability claims as their most financially and emotionally vulnerable times in their lives. And I'm going to talk about that in a second. But his perspective is invaluable. He understands very quickly the impact of medical hardships on a family's finances and how it can result in overwhelming debt lawsuits or judgments. And he brings that insider knowledge and compassionate strategies to help protect people who when it matters most. So he's going to be sharing today often overlooked financial challenges of living with a disability, how to fight against aggressive banks and debt collectors, and why breaking the cycle of shame around debt is really the powerful first step to stability, both financial stability and emotional stability. His solutions focused approach is going to leave you informed and empowered to take control of your financial well being.
 
 Nancy Cavey [00:02:19]:
 So thank you for joining us today.
 
 Efstathios Georgiou [00:02:21]:
 Thank you for having me.
 
 Nancy Cavey [00:02:23]:
 Great. We are going to talk about why disability income protection matters, how the law protects disability benefits, and practical steps and takeaways. And this is really key because I was actually a little late getting on this podcast because my client was asking me all sorts of questions about how he is going to financially survive the Social Security disability process because he does not have short or long term disability benefits, he has no family to rely on, he's got a wife and four children, a mortgage and car payments and he's spiraling. So this is a fantastic episode and I can't wait for us to get into it, but we've got to take a break first. All right.
 
 Speaker C [00:03:12]:
 Are you considering filing for Social Security disability or has your claim Been denied already. Either way, you require a copy of your rights to Social Security disability benefits, which will cover everything you need to know about the Social Security disability claims process. Request your free copy of the book@kvlaw.com today.
 
 Nancy Cavey [00:03:47]:
 Welcome back to Winning Isn't Easy. We're going to talk about why disability income protection matters. Estasios. Let's start with the big picture. Why is protecting disability income from creditors such an important issue for so many people?
 
 Efstathios Georgiou [00:04:03]:
 Thank you for having me again. Well, for many folks, it's their only source of income after working for so many years. And when a creditor or debt collector, I should say, calls them and says, you know, your, your income may, your income check, your Social Security income check may be taken away, they get scared, they get stressed out, and so on and so forth. It's knowledge is power. And educating people about what their rights are is powerful. I do have a client who right now has supplemental Social Security income and disability benefits as their only source of income. And a creditor is going after them for a loan that was taken out while they had a practice as a doctor here in New York City, which is now defunct, no longer in existence. And so we're now beginning the negotiation process with the bank's attorney.
 
 Efstathios Georgiou [00:05:12]:
 It's a very large bank, so we can talk about that later on. But that's why it's important. It's what pays the bills right now, what pays the rent. So it's important for them.
 
 Nancy Cavey [00:05:27]:
 So from your experience, what kinds of fears or concerns do people on SSDI or SSI have or even shorter long term disability benefits when they start hearing from debt collectors?
 
 Efstathios Georgiou [00:05:39]:
 Many people are just not aware that this is what we call exempt income, that you cannot levy it, garnish it, you can't collect it. You can have a judgment against an individual who has this exempt income. But under federal law and most state laws, it's exempt. It cannot be, you know, you cannot be enforced. You cannot enforce a judgment against it.
 
 Nancy Cavey [00:06:07]:
 So let's rewind this a little bit because people will hear from debt collectors and sometimes they will ignore the debt collector. And ultimately the debt collector is going to retain an attorney to sue the person to collect. And many times I see that people ignore this. They put their head in the sands and they think it's going to go away. Tell us why that is not what they should be doing.
 
 Efstathios Georgiou [00:06:34]:
 Yes. So the first thing you should do is take a deep breath, relax. I know it's very difficult to do. It's easier to say when you're in that position. But the most important thing to do is never to ignore a lawsuit. Never to put it away in a drawer and think that it's going to go away. You have a certain amount of time to respond and depending on 20 days depending, right? Yes. And so if you miss that deadline, what often is going to happen? They're going to make a motion for a default judgment.
 
 Efstathios Georgiou [00:07:12]:
 And once they get that motion for a default judgment, at least here in the state of New York, it's good for 20 years. So it stays, stays with you for 20 years. And you know, the bank, in this case with my client, the bank might be hoping that, you know, they can dismiss the case, as we call it, without prejudice, which means it can be brought back, or dismiss it with prejudice, which means it can never be brought back. So creditors might think, you know, your client might hit the lottery in five years or three years and so on and so forth. And so we want a judgment or we want the ability to, you know, bring it back again. So that's where the attorneys start to negotiate and go back and forth. Never ignore lawsuit.
 
 Nancy Cavey [00:08:02]:
 So that was my next question. And it's exactly what I tell my clients when they get notice that they're being sued. I always refer them to recommend that they find an attorney. Practically speaking, what are the suggestions you have for a client to find a lawyer like you who would represent them when they don't have a lot of money?
 
 Efstathios Georgiou [00:08:27]:
 There are non for profit or volunteer agencies that will take on this type of work and represent a client or no fee. They get their monies by grants from other institutions, foundations and so on and so forth. If a client can afford to pay an attorney's fee, then they should. And they should do their due diligence and do their research and make sure that they're getting somebody who is that they feel comfortable with because this is their go to person that they're going to be dealing with. So it's very important that you pick the right attorney.
 
 Nancy Cavey [00:09:15]:
 So I refer my clients to the local county bar association and ask that they give them a call for a recommendation of attorney. Do you agree with that recommendation?
 
 Efstathios Georgiou [00:09:25]:
 I do, yeah. I would be doing the same.
 
 Nancy Cavey [00:09:29]:
 Now. You know, one of the things that you and I both know will happen is there are going to be a lot of scare tactics that the debt collector might use to make them think that their Social Security benefits are at risk. Can you tell us what are some of those scare tactics that the debt collector might use?
 
 Efstathios Georgiou [00:09:51]:
 Yeah. So I have to say that the law Firms that I worked for, the debt collection law firms. I had, I worked for around two or three debt collection law firms here in New York, all pretty large firms. They were up to par in terms of, not of making sure that they were in compliance and that the people who they had, quote, unquote, on the floor making the phone calls to the debtors were in compliance with all the regulations, the federal and the state regulations. But most definitely what you, you know, before or even in the early 2000s, let's say abuse was rampant. So, you know, that's why we had a lot earlier than that of the Federal Debt Collection Practices act or the FDCPA passed by Congress to deal with those abuses in this industry. And that's why it's still a highly regulated industry. Even for attorneys.
 
 Efstathios Georgiou [00:11:00]:
 There's a lot of things you can't do.
 
 Nancy Cavey [00:11:04]:
 So let's step back a second because we're talking about two different things here. We have the debt collector who's like on the phone trying to collect the debt.
 
 Efstathios Georgiou [00:11:12]:
 Right.
 
 Nancy Cavey [00:11:13]:
 And they're going to not always tell the truth of the collectability. So let's talk about the tactics that the actual debt collector is going to use and then let's talk about what happens when the law firm gets involved.
 
 Efstathios Georgiou [00:11:28]:
 Okay, so the, the tactics are basically misleading the debtor into thinking that they, they will have their Social Security check garnished or they will have their bank account frozen even after it's been explained to them that this is the only income I have in my bank account. So, you know, you won't find, you'll find some people, I'm going to say it's the minority of debt collectors today, in my experience, at least from what I experience, who will engage in that behavior and put a fee, instill a fear in the debtor. Instead of educating the debtor and inquiring background questions, have a questionnaire that would elicit whether or not it's exempt income. This is their only source of income, so we can't collect it. So now we need to escalate this to an attorney in the, in the law firm. That's what usually should happen.
 
 Nancy Cavey [00:12:42]:
 So why would it be escalated Once it's determined that the income that the person has is basically exempt from, well, under federal law, from garnishment to collect.
 
 Efstathios Georgiou [00:12:55]:
 The attorney will then contact the managing attorney and have a discussion and say, this is the situation presented from the, the debt collector and do you think it's fruitful for our client to continue their efforts at collecting this debt when we know this to be the case. And then an email will be sent out to the liaison from the bank, and the bank will then respond, typically within pretty quickly, sometimes the same day, sometimes in two days. You get a response from the bank says, discontinue all efforts. And in that email, they'll tell you how, how you discontinue the action, too.
 
 Nancy Cavey [00:13:46]:
 So I got a lot of more questions for you, but let's take a quick break. Okay.
 
 Efstathios Georgiou [00:13:50]:
 Yes.
 
 Nancy Cavey [00:14:02]:
 Welcome back to Winning Isn't Easy. Now we're going to transition to talk about how the law protects disability benefits. But before we do that, I want to talk with you a moment about the Fair Debt Collection Practice act and how potential violations of the FDCPA can be used by the debtor, the client, the Social Security recipient, to sort of fight back, if you will, level the playing field and help them deal with the debt. So can you comment on that?
 
 Efstathios Georgiou [00:14:41]:
 Yes. So I can tell you from experience that all banks do not want to see FDCPA actions against them. It's kind of like a scarlet letter, and they really give you a blank check to negotiate with the debtor. I believe it's $1,000 per violation. And they can amount to being quite a few violations in just one phone call or one transaction, whether it's a phone call or even a letter sent to the debtor's address requesting payment. So the FDCPA protects the debtor. They offer several protections, and it's. It can be used by the debtor as leverage when they're negotiating for their debt.
 
 Efstathios Georgiou [00:15:38]:
 So they can use that and say, listen, you violated, you have five violations of this amount. We're going to bring you to court. And then more often than not, an attorney takes the case on a contingency basis, does not charge anything, and it's pretty much a slam dunk case at that point for the attorney because they have everything lined up. All the ducks are in a row, and it's leverage. And the bank says, okay, Mr. Giorgio, we'll dismiss with prejudice where it would have been without.
 
 Nancy Cavey [00:16:14]:
 So I refer my clients to FDCPA lawyers. But I have done FDCPA work in the past, and I've done it in conjunction with our short and long term disability work. And I once had a case where there was an overpayment of benefits. The carrier, through their debt collection company, sent some pretty nasty and threatening letters. We set them up for an FDCPA claim, documented this, and then ultimately, when they sued for the overpayment, we countersued. Under the fdcpa, and ultimately, we were able to resolve this case with them forgiving the overpayment and dismissing their lawsuit with prejudice. And they paid my attorney's fees. And.
 
 Nancy Cavey [00:17:01]:
 And people need to understand that the FDCPA lawyer takes the case on a contingency, but if they're successful, they're going to be paid by the bank or the collection agency, correct?
 
 Efstathios Georgiou [00:17:11]:
 Correct. Absolutely correct, yes. That's how it works.
 
 Nancy Cavey [00:17:15]:
 Right. So one of the suggestions that I think we both would make is if somebody feels as if they're being threatened and inappropriately. So they want to be on the phone with an FDCPA lawyer.
 
 Efstathios Georgiou [00:17:26]:
 Yes, definitely.
 
 Nancy Cavey [00:17:28]:
 Yeah. So let's talk about the legal protections at the federal level that protect SSDI and SSI from garnishment. Can you explain, number one, what they are and explain exactly what garnishment is?
 
 Efstathios Georgiou [00:17:44]:
 Sure. So garnishment occurs when there has been a judgment entered against a debtor. We mentioned earlier that you should not ignore a lawsuit. One of the reasons you should not ignore a lawsuit is because you don't want to put up the white towel or give up early. You want to be able to have negotiating some leverage. So the bank, the creditor has now entered a judgment against you, a default judgment or otherwise. And one of the things they can do with that judgment is they can garnish wages. So.
 
 Efstathios Georgiou [00:18:26]:
 Or they can put a restraint on a bank account. Even if the bank account is a joint bank account, they can make a motion. In New York, we call it a turnover motion to get access to that portion of the debtor's account. Right. So it's one of the tools that they have in their arsenal in terms of collecting on the debt garnishment is, as well as bank restraints. So I typically see it in the field of debtors who are employed. Even union workers fall prey to this. They have, you know, they've either ignored the lawsuit or service was improper, and they honestly never got notice of the lawsuit.
 
 Efstathios Georgiou [00:19:25]:
 And then the next thing they know is their HR department is telling them, your check is being garnished. And they're like, what? Yeah. Where. Where did this come from? And they're calling me on the phone and saying, my check is garnished.
 
 Nancy Cavey [00:19:42]:
 Surprise, surprise.
 
 Efstathios Georgiou [00:19:44]:
 Right. So that's typically the situation that I see it in. I don't see it. Obviously, when an individual has reached the age of retirement, they're usually not working. Some people, however, do continue to work, so it can impact them as well. But for Social Security purposes, I would say you're looking more at a bank account Being restrained, frozen, as we say.
 
 Nancy Cavey [00:20:11]:
 And so there is a federal law that protects both SSDI and SSI from garnishment. Can you explain what that federal law is?
 
 Efstathios Georgiou [00:20:20]:
 Yeah, there's a specific title which. It's 42, title 42, section 407, that adds power, adds protection for. In the case that we're discussing right now. So for a debtor, where the debtor can seek refuge in their SSI payments, SSD payments, or other disability benefits that they may have, you know, incurred later in life or what have you.
 
 Nancy Cavey [00:21:02]:
 So, yes, so I know that New York adds an extra layer of protection, and each state has different laws. Can you please explain what state laws do to safeguard exempt funds in bank accounts?
 
 Efstathios Georgiou [00:21:16]:
 In New York, there are certain amounts that are exempt from a collection. I don't have it in front of me, but there are, for example, within the last 90 days, your salary would be, if I'm not mistaken, it would be exempt from collection. So it doesn't want to put you in the position where you're out on the street trying to put food on the table. So it wants to put you in the position where you can deal with two things at the same time. You can deal with your debt, but also live as a human being.
 
 Nancy Cavey [00:22:01]:
 So we have been banding around the word judgment. We lawyers understand what that means. But can you explain what a judgment is? Obviously why you don't want a judgment alluded to, the fact that it lasts a long time or even can be renewed. So can you explain what a judgment is and why you don't necessarily want to have a judgment entered against you?
 
 Efstathios Georgiou [00:22:28]:
 One of the important aspects an attorney plays for a debtor is to make a motion to vacate a default judgment. Reasonable excuse and meritorious defense are usually the qualifiers. In New York, the bank can make what we call pretty common in the US A motion for summary judgment.
 
 Nancy Cavey [00:22:52]:
 Right.
 
 Efstathios Georgiou [00:22:52]:
 Where it's a motion on the. On the papers that, you know, your honor, I'm making a motion and I want a judgment in my, you know, favor. Favor for the full amount. Some debt collection law firms will typically do that as a matter of course, after a couple of court appearances to speed things along and to, you know, put a little bit more pressure on the debtor, then you can do, if you're a pro se, if you're not represented by an attorney, you can file your opposition to that motion where the attorney who's representing you would. Would be filing that opposition. So it. It really helps a lot if you're represented by an attorney who's experience especially, and knows what they're doing.
 
 Nancy Cavey [00:23:53]:
 So the point that I think also needs to be made is that when a lawsuit is served against you, you have 20 days in which to respond. And if you don't respond, generally at that point, the bank or the bank's attorney is going to file motion for default. And if you don't respond to that pleading, then the court will most likely enter a default. If you decide and you wake up that, geez, I need to do something here, there are only a couple ways that you can get the court to set aside a default judgment, one of which is they never really served you with the law. But if you stuck your head in the sand and ignored it, the court is not necessarily going to forgive you not responding.
 
 Efstathios Georgiou [00:24:37]:
 Right.
 
 Nancy Cavey [00:24:38]:
 And that's where that default judgment comes in. And now that judgment, you know, here in Florida, the judgment can be renewed. It lasts a period of time, but it can be renewed and it can chase you. And what happens, of course, is if you go out and try to buy something like a car or a house, that default judgment is going to show up on your credit report, right?
 
 Efstathios Georgiou [00:25:00]:
 Absolutely. One thing I'd like to add to that is everything you said is absolutely correct. And so if you were not properly served, I do have a client who is arguing to me I wasn't properly served. And I'm explaining to him that's really not your strongest argument. Because if the bank is within the statute of limitations, within the period of time to file the lawsuit, what they will do is you can bring that up, not a problem. But then the bank's attorney will very smartfully say, I'm withdrawing the action without prejudice. And then I'm just going to refile it. So you have other, stronger arguments to make than improper service.
 
 Efstathios Georgiou [00:25:49]:
 I think people watch too much TV and see things on TV and think that, you know, this is my strong suit. I wasn't served properly. This is how it happened. This is what happened at the time of day and the method and so on and so forth.
 
 Nancy Cavey [00:26:07]:
 Well, I have some more questions, but let's take another break. Okay.
 
 Efstathios Georgiou [00:26:11]:
 Yes.
 
 Speaker C [00:26:13]:
 Struggling with your Social Security disability case? The right attorney can make all the difference. Get our booklet the key to hiring a great attorney for your Social Security disability case. Discover how to find an exception experienced attorney who will fight for your rights and navigate the process with ease. Don't leave your future to chance. Request your free copy@kvlaw.com today and ensure you have the expert support you deserve.
 
 Nancy Cavey [00:26:54]:
 Welcome back to Winning isn't easy we're going to talk about some practical steps and takeaways. But before that, I want to talk some lawyer talk. We hear this term judgment proof. Can you break that down in terms of what it means practically, generally? And then for someone whose only income.
 
 Efstathios Georgiou [00:27:14]:
 Is disability benefits, if someone's only income is disability benefits or supplemental Social Security, there are a few more categories. But if it falls under the umbrella of exempt income, then that person is what we call judgment proof. For layman's terms, it doesn't mean that the lawsuit goes away.
 
 Nancy Cavey [00:27:41]:
 Correct.
 
 Efstathios Georgiou [00:27:42]:
 It does mean that you have a tremendous leverage in the lawsuit in negotiating for a much smaller amount that you would pay out. So it could mean that you might pay 25% instead of paying 65% if you didn't have that. But it's really difficult sometimes for a client to understand that because they have this preconceived notion that they're judgment proof. What are you talking about? I can't be touched.
 
 Nancy Cavey [00:28:11]:
 So let's comment on that because they can attach other assets other than the Social Security. The Social Security is exempt, but your house is not exempt.
 
 Efstathios Georgiou [00:28:23]:
 Correct.
 
 Nancy Cavey [00:28:24]:
 There are other assets that you have. And so what they can actually do is they can actually do send you some questions called discovery requests. Looking at your assets to see, well, you know, I can't garnish the Social Security, but they've got a big house now that won't work here in Florida, but they've got a house. They've got bank accounts, other bank accounts. They own rental property. So, hey, I'm going to go after that. Correct?
 
 Efstathios Georgiou [00:28:56]:
 Absolutely correct. So it's important for the client to communicate truthfully with the attorney. If the client is hiding assets from the attorney and the attorney is negotiating with the bank's attorney, and then the Bank's attorney says, Mr. Georgi, did you know your client has a 401k or, you know, or the spouse is holding, you know, joint account. So whatever the scenario can be. So it's absolutely important that the client is truthful in communicating.
 
 Nancy Cavey [00:29:33]:
 So what kind of records or documentation should people keep on hand to show to the bank or the credit company that their income is exempt?
 
 Efstathios Georgiou [00:29:42]:
 If they can show their award letter from Social Security, it's a crucial document. If they can show bank statements where in the bank statement deposits are being made every month from Social Security or any disability benefits that they are receiving on a monthly basis. But for me as a bank attorney, when I was a bank attorney, if somebody sold me an award letter, I took that back to my Client. And that was usually sufficient proof to, you know, not go forward with the case or to leverage the case.
 
 Nancy Cavey [00:30:20]:
 You know, I also done bankruptcy work, and I know that bankruptcy attorneys, bank attorneys, would demand more than just the letter. They want to kind of roll back the moss, if you will, and see, well, are there any other assets that you have that, you know, okay, I agree your Social Security is exempt, but I'm going to go after all these other things. Correct.
 
 Efstathios Georgiou [00:30:42]:
 That's true as well. There's a claim form that doesn't need to be submitted at some stage of this. In some, you know, at some stage where the debtor has to make a showing, you know, they're going to make a request. It's kind of like informal discovery. Like you mentioned before. If there's formal discovery, then, you know, and you're pro se, it becomes a little bit more difficult for you to respond to these legal, you know, questions that are being presented to you. But again, if you can't afford an attorney, in every state and every city, there are certainly agencies that volunteer, have volunteer attorneys that work for them, like we mentioned before.
 
 Nancy Cavey [00:31:29]:
 So let me ask you this. Is bankruptcy a remedy in situations like this, where we've got a client who is collecting SSDI or SSI and they have. That can't be garnished, but they have all sorts of other assets running around and they have other debt that's running around?
 
 Efstathios Georgiou [00:31:53]:
 Is that a consideration if they have other ass? So not being a bankruptcy attorney, I'm going to do my best to answer your question. But if the client has other assets that can be attached, I'm not sure I would advise them to file bankruptcy. I would advise them to negotiate with the bank for a lesser amount than what they're being sued for. And that would be my advice to the client. Bankruptcy, I think, is the last step you would take. It wouldn't be my first step.
 
 Nancy Cavey [00:32:32]:
 Right. So from your perspective, when things escalate, can you explain how an attorney can step in to. Particularly if they're attempting to garnish the Social Security benefits, how the attorney can step in and assert those exemptions and. Or get funds released from frozen bank accounts?
 
 Efstathios Georgiou [00:32:54]:
 Yeah. So the attorney will be speaking with the bank's attorney and there will be. It's not just the attorney's word. I've often, more often than not, I provide documentation to support what I'm telling the attorney. So you provide that documentation, whether it's an award letter, a bank statement, or both. Both would be the best. And there should be no reason why the client can provide that. So that is communicated with the bank's attorney.
 
 Efstathios Georgiou [00:33:30]:
 And then the bank's attorney in turn speaks to their client and says, this is what, you know, I've been presented. I recommend this course of action. They will always recommend a course of action to their client, and then the client makes a decision and gets back to the law firm that represents them.
 
 Nancy Cavey [00:33:53]:
 So what's the key message or takeaway you want listeners to walk away with today about this whole process and protecting not only their disability income, but to deal with debt when. When they have other assets, if you will?
 
 Efstathios Georgiou [00:34:11]:
 Yes. So if you do have other assets that are not exempt from collection, then you are not judgment proof. And if you are not judgment proof, that means you are going to have to negotiate with the bank that is suing you for something close to that amount. How much you end up settling with is really discretionary. It's really depending on what leverage you have in the negotiations, as we discussed earlier. And even if you are judgment proof, as we discussed before, it doesn't mean that the lawsuit will go away. It will mean that you have strong leverage in this case to negotiate for a much lower amount than typically would be the case if you did not have that status.
 
 Nancy Cavey [00:35:14]:
 So we also have to explain that if you enter into an agreement generally with the bank to resolve the debt, that most of the times this agreement will say, if you don't meet the terms of this payment in the time frame this whole lawsuit gets started again.
 
 Efstathios Georgiou [00:35:31]:
 Correct.
 
 Nancy Cavey [00:35:32]:
 It's not going to go away. We're protecting ourselves if you don't live up to the agreement.
 
 Efstathios Georgiou [00:35:38]:
 Correct, Correct. My experience has been that when I'm writing up that stipulation of settlement in court or at the office, I want to get a judgment against the debtor if they breach within, you know, so that would be my. That's the standard protocol that is still. Still followed. But definitely the case doesn't go away. I mean, I've dealt with cases as a bank attorney where the person breached the stipulation several times. So there's always a possibility for you to, you know, get help.
 
 Nancy Cavey [00:36:22]:
 This has been fantastic and I want to thank you. And if there are people in New York who want your help, how do they contact you?
 
 Efstathios Georgiou [00:36:29]:
 Yeah, you can reach me at 917-764-3072 and that's the best way.
 
 Nancy Cavey [00:36:37]:
 You have a website that they can also look, I do.
 
 Efstathios Georgiou [00:36:39]:
 It's my name, Georgiou Law, pllc.
 
 Nancy Cavey [00:36:43]:
 All right. And that's Georgiou.
 
 Efstathios Georgiou [00:36:46]:
 Yes.
 
 Nancy Cavey [00:36:47]:
 Great. All right, any final words of wisdom today?
 
 Efstathios Georgiou [00:36:52]:
 If you're being sued by a bank for a debt, do not ignore it. Reach out for help.
 
 Nancy Cavey [00:36:58]:
 Great. Well, thank you for being our guest today, and I thank our listeners and I hope that they've enjoyed this episode. Please share the episode, subscribe to the podcast, and we look forward to talking with you next week. And remember, you can reach out to him at 917-764-3072 or on the contact form on his website. Great. Thank you guys and thank you.
 
 Efstathios Georgiou [00:37:26]:
 Thank you so much for having me sa.