Keeping a financial focus when your world is crowded…
I’ve been keeping a secret.
I’m being sued.
I didn’t do anything. I wasn’t involved in anything. I just happened to own a home. That was all it took.
Obviously, I can’t say anything about the case since it’s ongoing. We’ll have the one year anniversary of the start of this mess next week… and I don’t see an end in sight.
My attorney contacts me several times a week requesting information. We make trips to the county offices and have to buy more and more paperwork.
‘Random lawsuit fee’ is a line item in our budget.
It’s a never-ending saga.
It would be so easy to start budgeting ‘tomorrow’. I feel drained emotionally and physically. I would like to focus less on money and more on spending my few moments free time ‘vegging’… but if I decide to wait until ‘tomorrow’, it will never come.
We all have things that haunt us but will we let them run our lives?
Don’t wait until tomorrow. Start planning your financial future now.
Posted: February 3rd, 2009 under Credit Score, Debt Reduction, Life in General, Saving Money.
Comments: 9
Comments
Comment from Michelle
Time: February 3, 2009, 7:39 am
Uff – you’re in my thoughts. Sometimes during my debt journey I get very defeated by some of the things that derail my progress (root canals, the fact I’ll owe the IRS, my car insurance …), but keep the faith. And remember – someday this will all be over and you’ll be a stronger person because of it.
Good luck!
Comment from Jay Gatsby
Time: February 3, 2009, 7:55 am
I’ve been sued for various things I didn’t do either. Being sued is a “cost of doing business”, even if you’re not in business. It takes nothing but a bare-bones complaint, a filing fee and service of the complaint on the defendant (often by mail) to sue someone. You don’t always have to hire a lawyer to oppose a case, but it helps significantly if you have one. Some lawsuits can even be resolved by a strongly-worded letter by your attorney. If not, you simply counterclaim against the plaintiff for as much or more than the plaintiff is asking from you. Leverage is a wonderful thing, even if you don’t think you’ll actually win your counterclaim.
I consider legal fees to be a part of any emergency fund. Make sure when the lawsuit is over and your lawyer has been paid that you replenish your emergency fund. In today’s economy, you should have an emergency fund of at least a year, if not two years. The more assets you have (i.e. a deeper pocket for a lawyer to target) the more money you should have in your emergency fund.
To keep costs down, I recommend that everyone get to know a few lawyers socially. One should be a trusts & estates lawyer, another should be a criminal lawyer (yes, an oxymoron), and the third should be a civil litigator. Depending on what you do for a living, you may be able to barter your professional services for a break on a lawyer’s legal fees. For example, if you’re a network administrator and your lawyer’s firm has an outdated computer network on the verge of collapse, you might offer to perform all of the upgrading labor for free (with the lawyer buying the equipment). Even if you don’t have something to offer, your network of friends and family members might be able to provide some valuable service.
Comment from Dan Massicotte
Time: February 3, 2009, 8:57 am
Wow, are legal fees as expensive in your area as they are here in Canada? It’s something like $200/hr here. Eeek.
Comment from Joan
Time: February 3, 2009, 11:07 am
Sounds as if someone fell on your steps, believes that your deck was built without a permit and is hampering their enjoyment of their own yard, thinks that improper drainage from your property is ruining theirs, thinks your oak tree dropped twigs into their pool filter and broke it, claims the sun reflecting off your living room window caused them to drive their car into a fire hydrant, that your house is blocking their view of the lake, or one of any other million things people might sue a home owner over.
Comment from Monkey Mama
Time: February 3, 2009, 11:17 am
My relative just went through this. The experience did take FOREVER but it turned out pretty well and not too expensive (well, could have been worse). I feel glad to have the name of a top notch attorney now. I know who to call in a similar case, for sure. The name of a good lawyer is invaluable.
Everyone in the family has since purchased umbrella insurance to cover out butts, as well.
Our parents have both been through things that could have been very financially devastating. SO it’s hard to take much for granted in this sue happy world.
Comment from Pev
Time: February 3, 2009, 11:28 am
I’m sorry to hear that. I hope everything will get resolve soon.
Comment from Nicole
Time: February 3, 2009, 5:21 pm
Hey, I know people:)
Comment from mikey
Time: February 5, 2009, 7:10 am
that nicole chick scares me. i’d call her if it gets ugly…
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