The Best Advice is Your Own Advice

When it comes to dealing with the recession, the best advice is your own advice, with one huge and important footnote-you have to know what you’re talking about. It is sometimes said that in a court of law a person who chooses to represent themselves has a fool for a lawyer. Because of the complexities of the law, and the extensive schooling required to obtain a license to practice it, serving as your own lawyer doesn’t make much sense. You’re not really qualified to do it, and the outcome is almost invariably disastrous.

Financial advice on the other hand is much different. Although some financial advisers operate on a straight fee basis, more often than not a financial adviser is paid a commission. They profit from anything that you buy based on their recommendations. The more they get you to invest, the more money they make. The potential conflict of interest that this creates is clearly obvious.

The problems that this sort of relationship creates come into stark focus when considering personal financial security in the face of a thundering recession. Many people have lost millions of dollars of wealth over the past several years as the recession has caused the economy to crumble around us. Unfortunately, very few financial professionals, including investment advisers, saw this coming. Consequently, many people were caught short with bad investments that ultimately lost value.

A study of financial professionals shows that less than 5% of people who use a professional adviser have a written financial plan in place. We’re not talking here about the general thoughts and advice of the adviser, but instead about a written document that defines a detailed and actionable financial plan. This is an astounding statistic because the very first step in creating long-term financial security is to build a solid financial foundation. And the very first step of building that foundation is to craft a comprehensive plan.

This is why in planning for your financial future, the best advice is your own advice. Nobody cares about you like you do. Obtain a financial education that enables you to understand how money works, and the best investment strategies for use during a recession. Only when you are able to make your own investment decisions, will you be able to realize true and absolute financial security. Once you know what you’re doing, start giving yourself good advice.

Worker Compensation Lawyers: Get The Best Advice on Your Rights and Entitlements

For anyone that has an injury at work there are certain things that you need to do immediately. First, get the medical care you need and then get in touch with a firm that engages worker compensation lawyers. Under no circumstances talk to or give your version of the situation leading up to the accident to anyone and certainly never discuss anything with the company’s lawyers before you even consult with your own. Although the reasons behind this may seem obvious but if you have sustained an injury that may leave you permanently impaired and you may need ongoing medical treatment, any medical expenses and loss of income may be compensated for by your employer’s compensation scheme.

A personal injury lawyer will specialize in workers compensation claims and will be able to advise you on your rights and full entitlements to any rewards. These lawyers will normally undertake your case on a contingency basis. This means that you will receive the first consultation for free. During this phase you will find out if your claim is viable. If it is valid then the lawyer will then start any negotiations on your behalf without the need for you to put any money up front. There is normally an agreed amount or percentage of any settlement made that will go to the lawyer handling your case. Statistics shows that claims handled by a law firm have a far greater success rate and larger awards paid than those that an individual working on their own may be able to achieve.

It is always recommended that you seek expert advice from worker compensation lawyers as soon as you possibly can after an accident has occurred. This is because it is far easier to gather accurate witness information soon after an accident. There are time limits that are imposed on filing such claims (be aware that these may differ from state to state). You will need to get a professional medical evaluation of your injuries as this will determine whether there is a need for ongoing medical attention and also to determine the full extent of any injuries. The amount of time you will be absent from work can also be evaluated from these reports and what course of ongoing treatment is best for you to recover.

Worker compensation lawyers are experts that have the knowledge needed to get your claim rolling. They will make it easier for you to get fast payments for any medical expenses that may be incurred and help speed up the process towards a full settlement for your loss of income reward. Determining the amount of financial compensation you may be awarded will largely depend on the full extent of your injuries. This is why it’s so important that these are correctly documented. A personal injury lawyer specializing in workers compensation can gather all the relevant information and properly document it so that it can be correctly presented should there be the need for the case to go to court. With a lawyer in place, there will always be a plan of action that could reap good results.

What Is the Best Advice If Your Credit Is Bad?

Many people find themselves in debt and more often than not, it is purely because they have fallen on hard times, not because they “have a problem with money”. I recently read about one woman who was left with the expenses of raising children with no help from their father who had left. She also had her mother and brother living with her, who were both unemployed and had to financially support them as well. She barely had enough money for food and basic essentials, so over the years, had accumulated debt through numerous ‘credit card increased limit offers’ and deals which she had been drawn into.

She was afraid. She didn’t have money to pay lawyers or debt counselors for their advice. She was afraid to answer the phone for fear of so many people she owed money to and even wondered whether she might be put in jail because of her debts.

Sound familiar?

Well the good news is, that there is no such thing as a “debtors prison”. It would not be in the interests of society to throw people into prison for misfortune. These are matters for the civil courts (if it comes to that) rather than criminal jurisdiction. This doesn’t mean that you won’t receive a court judgement against you and that a sheriff won’t come knocking one day, wanting to claim whatever he/she can of your possessions to offset the debt. But there are ways to avoid this also.

If your credit history is bad and you’re financially strapped, here is some advice that may help.

Firstly, compile a list of all bills and expenses you have. If you have credit card debt, summarize the balance, minimum payment amount and interest charges.

Now break your expenditure list into essential and non-essential payments. “Essential” means survival needs like food, electricity and rent or mortgage as the case may be.

Prioritise the “essential” things to be paid first. Anything left over can be distributed among the non-essential items. If a debt collector tries to harass you, don’t even think about using your survival money to satisfy them. The law is on your side here. If debt collectors become hostile or harass you, they are in violation of the law.

From now on, only spend money on essential things. If you have other people you’re taking care of beside children, they should be asked to contribute something towards living expenses. Or if not, perhaps they have a skill they can use to help save money (e.g. do repairs, mend clothes, run errands)? They may even be able to develop a hobby into a small money making venture, to supplement the family income.

Debt problems can be very stressful and if unresolved, make life a living hell. But you can take control by working out a plan and educating yourself about how the law works to protect your rights. Knowledge is power!