Better Financial Organization in 2012

So many demands for our scare resources!

I subscribe to the New York Times online, including its Your Money newsletter. The current issue features several articles on “resolutions” (I think we can safely still call them “New Year” even while January is passing as quickly as any other month), which are worth checking, including:

– Tara Siegel Bernard’s Resolution: Become a Mint.com Power User. (Mint.com is a money tracking website that lets you  keep close track of your spending.)

– Ron Lieber’s Resolution: Better Personal (and Financial) Organization. (to waste less time looking for things and beng able to put that time into something constructive, even profitable)

I’m going to do something from both of these!

Low Income Legal Fair Great Success!

The phone wasn't ringing off the hook, but ...

“By the time the clock struck 10 a.m., we had a line of clients out the door. By the end of the fair we had served nearly 200 clients in a span of about three hours.”

This was Saturday’s free legal fair that I posted about previously. As of Saturday, it was the 2nd largest event in New Mexico — even more than at Albuquerque’s last event! (They saw 175 people in 4 hours.  However, Albuquerque is having this year’s event today, and they may beat their earlier and Santa Fe’s current record.)

It’s a mixed thing, though –such a great need for legal assistance and such limited resources people have to help solve some really serious problems.

Free Santa Fe Legal Fair Saturday, October 22, 2011

It’s the next sponsored by the 1st Judicial District Court (which covers Santa Fe, Rio Arriba, and Los Alamos counties) Pro Bono Committee.  The previous one was in May, see this link: http://www.nmbankruptcyblog.com/?p=933

As I said there:

There are projects around the country to get more lawyers to perform more pro bono (free) services for low-income persons — for example, my local state court’s (1st Judicial District of New Mexico) Local Pro Bono Committee … is presenting a Santa Fe Legal Fair this Saturday … from 10 a.m. to 1 p.m. , providing free consultations in many areas of law touching on the lives of regular people, including bankruptcy and foreclosure.  I’ll be there. But, to me, that does little to solve the problem on a structural level and, as a society, we need to do more. Still, when you are the person in trouble, you want to first get help, and then see to helping others — that’s normal! Like they say on the airplane about the oxygen — first put the mask on  yourself so that you can go on to help others, and then put it around the faces of your children.

This Legal Fair is at the Mary Ester Gonzales Senior Center in Santa Fe — click for the flyer for directions and more details: October 2011 LF Flyer.

 

 

 

NOLO Lawyer Joke of the Day

Who says lawyers don’t have a sense of humor?

NOLO has made me laugh for many years!

 

Attorney Joke

Q: Have you heard about the lawyers’ word processor?

A:  No matter what font you select, everything come out in fine print.

Free Santa Fe Legal Fair, Saturday, May 7, 2011

There are projects around the country to get more lawyers to perform more pro bono (free) services for low-income persons — for example, my local state court’s (1st Judicial District of New Mexico) Local Pro Bono Committee together with the Santa Fe Community  College is presenting a Santa Fe Legal Fair this Saturday (5/7) from 10 a.m. to 1 p.m. , providing free consultations in many areas of law touching on the lives of regular people, including bankruptcy and foreclosure.  I’ll be there. But, to me, that does little to solve the problem on a structural level and, as a society, we need to do more. Still, when you are the person in trouble, you want to first get help, and then see to helping others — that’s normal! Like they say on the airplane about the oxygen — first put the mask on  yourself so that you can go on to help others, and then put it around the faces of your children.

Come Saturday, to the Santa Fe Community College, 6401 South Richards Avenue (the fair will take place near the cafeteria) — it’s on a first-come, first-served basis, and areas for free consultation include public benefits, bankruptcy and foreclosure, landlord/tenant, and creditor/debtor.

Legal Fair

If there is a Government “Shut Down”…

The United States Bankruptcy Court issued this announcement a short while ago, concerning next week if there is a government “shut down” at midnight tonight:

The United States Bankruptcy Court and the United States District Court for the District of New Mexico will be open with no change in hours, hearing schedules, or services for the week of April 11, 2011, whether or not there is a federal government lapse in current fiscal year appropriations (commonly called a government “shutdown”).  If such a shutdown occurs and continues for an extended period, an adjustment to Court services may be required.  We will keep you informed via this listserv and on the Court’s web site as needed.

The United States Trustee Program has asked us to send out the following information:
In the event there is a lapse in federal funding, effective Monday, April 11, all offices within the United States Trustee Program will be temporarily closed.  Office operations will resume once Congress enacts a 2011 appropriations bill or a continuing resolution.  We apologize for the inconvenience.

Meetings of creditors currently scheduled will proceed at all locations.

I’ll keep you informed as I learn more.

Written by Santa Fe Bankruptcy Lawyer, Gini Nelson.

Economic Security Forum to be Held March 23 in Albuquerque

Written by Santa Fe Bankruptcy Lawyer, Gini Nelson.  It’s especially hard that when you are being hit hard by the economy, that there’s little real, constructive discussion about what to do. People often are more interested in promoting their own agenda than in listening to people about what values they may share that may help finding solutions. If you are in Albuquerque, however, you may have a  rare opportunity to share in a real discussion, from which you might get some helpful ideas and which might help make policy to help everyone.

I wrote about the forum in a post I did last week for Bankruptcy Law Network, a national bankruptcy blog.  The National Issues Forum will take place March 23 at 10:00 a.m. at the Albuquerque Journal offices at 7777 Jefferson NE, with limited seating, first come first served, with prior registration for this free event. At the forum, three options for gaining economic security will be discussed: (1) Act More Responsibly with Our Money; (2) Look Out for Each Other; and (3) Grow Our Way Out.

This forum is part of a series being held  nationally, and the results will be presented to national policy makers later in the year.

 

Feeling Lucky? (aka Overspending During the Holidays)

Really, don't count on it!

Feeling Lucky?

Really, don’t count on it. Changing your financial situation is usually a matter of changing long-held, little-considered ideas and habits. And overspending during the holidays is one of the big habits most of us give in to. But in all economic times, not just this one, spending what you cannot afford and failing to save what you can save puts you and your family at risk.

In my bankruptcy practice here in Santa Fe and northern New Mexico, there’s what I see as a “holiday lull” — fewer consultations right up and through the holidays, then, seemingly as the bills from the holiday spending start coming in later in January, more people calling to set appointments to learn how bankruptcy might help them.

This article by Ramit Sethi does a good job of telling us how to do better with our financial habits.

Nov. 30th NYT Bucks (Making the Most of your Money) Blog
November 30, 2010, 12:03 pm
How to Improve Your Financial Willpower

Ramit Sethi runs the Web site I Will Teach You to Be Rich. Two years ago I commented on a series he billed as a 30 Day Challenge to save $1,000.

Here’s the link to the first: Tip #1: Pack lunches for the rest of the week. As you the pace into the heart of the holidays grows frantic, why not review and remind yourself of thoughts and actions  you can take that my help you and your family more, in the longer run, than that new … however bright and shiny as it is!

Debt Settlement–Use a Bankruptcy Lawyer

bankruptcy lawyers better than debt settlement companiesGuest Post Written by John Van Elk

Debt settlement companies seem to be everywhere lately.  You can’t watch your favorite TV show without seeing an ad.  They make it sound so easy!  And they seem so nice!

But there’s a huge problem with these companies.  They are largely unregulated.  Some of them have nothing more than an website and a few phone lines.  And plenty of consumers have been ripped off.

That’s why the Federal Trade Commission just banned debt settlement companies from taking advance fees, as Gini reported in a recent post on this subject.  As FTC Chairman Jon Liebowitz said: “Too many of these companies pick the last dollar out of consumers’ pockets.”

So what’s different about using a lawyer?  Can’t a lawyer rip you off, too?  The obvious answer is “yes.”  Of course there are dishonest lawyers our there.  But I’ve practiced law now for 15 years and never known one who would take a client’s money and disappear.  Why?  We have a license at stake.  Misappropriating client funds is a big no no.  The penalty is almost always disbarment.  We’re regulated.  Debt settlement companies, by contrast, well, that’s sort of like the Wild West.   (And I know you folks in New Mexico know what I mean by that!)

There are some decent debt settlement companies out there, but it really only makes sense to use the ones who set up DMPs (“Debt Management Plans”).  A DMP is when you repay your debts over a period of years.  If you want to explore this option–which requires significant cash flow for the payments–seek help from a local non-profit.  Above all else, DO NOT send your money to someone you learned about on the internet!  I’ve seen too many clients get burned doing this.

For a bankruptcy lawyer, settling debts is an extension of what we do.  We deal with creditors every day.  We also know when debt settlement makes sense and when it just won’t work.  Debt settlement is not for everyone.  And you need to get legal advice from a lawyer who know your rights and who can explain your options.

Thanks to Allegan, Michigan bankruptcy lawyer, John Van Elk for this guest post.  His firm, DeMott & Van Elk, P.C. helps people negotiate settlements with creditors as well as file bankruptcy, if appropriate. If you have financial problems, and are in the Kalamazoo or Grand Rapids, Michigan areas, I’d recommend you contact John.

Federal Trade Commission Bans Debt Management Companies From Taking Advance Fees

The Baltimore Sun today announced the following great news:

FTC Bans Advance Fees at Debt Relief Companies

The Federal Trade Commission announced that companies promising over the phone to reduce your credit card or other debt can’t charge you a fee until they do their job.

The rule affects for-profit businesses and will kick in Oct. 27th.

FTC Chairman Jon Leibowitz says the new regulation aims to prevent companies from taking money from consumers and never fulfilling a promise to reduce customers’ debt by half or more.

“Too many of these companies pick the last dollar out of consumers’ pockets – and far from leaving them better off, push them deeper into debt, even bankruptcy,” Leibowitz said in a prepared statement.