A Consumer Protection Lawyer And Your Personal Finances

There should be an infrastructure phone number for legal advice like a 911 number. Because that is how often and how people use legal advice. More often than not the first time people will call a consumer protection lawyer is when they have some 5 alarm legal emergency. They could act more thoughtfully and plan ahead by contacting a consumer protection lawyer to proactively head off legal emergencies. Like police patrols and the guys waiting at the fire hall they will come to help you with potential problems and show you how to protect you from situations turning into emergencies.

In the USA there is such infrastructure in place in the form of ConsumerLawQA. This is a website managed by consumer protection lawyers giving free answers to questions on all consumer protection law related matters for all states.

Here at Thinkyourmoney.com we have created a framework for you to analyze and build your interaction with your legal problem and your chosen consumer protection lawyer that involves using the big 3 tools of personal finance. You would use these tools because the reason you need a consumer protection lawyer is because one of the 3 areas of your life monitored by these tools is under attack in some way. Let’s take a look.

There may a danger to your cash flow which is addressed in your budget. It may be on the income side of your budget. Your employer may have unjustly released you from employment. If you are self employed someone may not be paying for goods or services rendered. It could be on the spending side of your budget. You may have done something so that you may be fined or have your wages garnisheed for a debt or child support.
Then there is the matter of payment for the legal advice. It adds to the spending side of your budget in the short term as you often have to pay a retainer for legal services. In the long term hiring a consumer protection lawyer and managing his services properly should pay for itself because you should be able to work out a deal that will cost you less in the long run or even add to your add to your income.

Similarly the danger to your balance sheet may be on either side of the ledger. Another party may seek a claim against an asset that you own. They may put a lien on your asset that you will have to settle before you can be free to sell this asset. In that case they may push further for a judgement that may force you to pay from your budget or sell the asset to pay them what they may be owed. The opposite may be true in that someone may have ignored your rightful claim to an asset. In either case a court judgement sits on your balance sheet either as a liability or as your new asset.

Like in our budget analysis, the legal fees to defend such claims can get to become a sizeable amount. These too sit on your balance sheet as a liability until the claim is settled. You cannot assume that the court will judge in your favour and the fees will be passed to the other party in such claims.

When folks get to the point that the consumer protection lawyers get involved the dispute has started to affect personal plans, hopes and dreams. The other 75% of personal finance management come into play. To manage your psychological reaction you need to look at the 7 aspects of your life and your plans in those aspects of your life. You need to be calm and thoughtful about the impact of your choices and how you manage the legal counsel you get so that you can try to stay on track with your life plan. In some cases it may be 1 step back to take 2 steps forward. It may involve changing some plans. It may involve minimizing the damage to your plan and realizing that your dream life will not be perfect. You must accept where you are at in your life and work with your legal counsel to make the best of a difficult situation.

Your legal counsel is just that…counsel. That is why they call them legal counsellors. If you cannot control your emotions, you will not make the best of your legal counsel. To learn how to control your emotions you should go to a psychologist or a “counsellor”. When they teach you how to calm yourself to think clearly, you will then make the analysis and decisions to manage your personal finances to the best result for you and your life going forward.