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LawBiz® TIPS – Week of September 9, 2014

LawBiz(r) newsletter

Labor Day has come and gone. Summer is close to transitioning to Autumn, Fall and then the end of year. Vacations are done. It's time to re-focus on the numbers. Look at the financial performance of your practice for the first 2/3s of the year. How close are you to your goals? There is still time to reach your goals. Focus and perform - You will get where you want to go.

If you seek to 'value' your firm, see our 4 CD special below.

Ed signature

If It Seems Too Good to Be True....

It's no surprise by now that college and law students graduate with debt - lots of it. And it's no surprise by now that many of those students can't even get a job to try to pay off that debt.

Enter the "vultures." Debt settlement companies have found their mark, and they are swooping in for the kill. But there is a way to effectively evade these birds of prey and not die financially in the process.

The Illinois attorney general filed lawsuits against two debt settlement companies, claiming that they were guilty of fraud for taking money to renegotiate payments, among other services, none of which they are licensed to perform.

A New York Times article "Companies That Help with Student Loans Are Often Predatory, Officials Say" by Rachel Abrams and Jessica Silver-Greenberg, the mortgage crisis spawned debt resettlement companies, which now focus their sights on students in debt.

According to "Illinois AG Sues Student Loan Debt Settlement Firms," an article by Becky Yerak for the Chicago Tribune, the debt resettlement companies charged up to $1,200 for services that a person in debt could access for free from the federal government via the Consumer Financial Protection Bureau and the National Consumer Law Center.

It is often financially savvy to hire a business to do a service, freeing you as a lawyer to focus on doing what you do best - lawyering. However, having said that, good business practices entail a thorough investigation of service charges. The charges should be fair and reasonable, and the service should be worthwhile. In terms of debt resettlement, there is no reason to pay a fee when you can access free help. Your money will be better spent building up your law business, through which you can make more money to pay off those student loans.

Law Firm for Sale

The Complete Audio Guide to Selling Your Practice

Law Firm for Sale

until Oct 1
(reg. $247)

To Order:

or order online at

4 CD Set:
Reveals insider information that is sure to go a long way to help achieve optimal results while transitioning out of the practice of law.

Throughout these 4 CDs, presented by Ed Poll, JD, MBA, CMC, listeners will learn about:

  • valuing and pricing a firm

  • marketing its sale

  • other post-sale considerations

Listen to an audio excerpt.


If It Seems Too Good to Be True...

Law Firm for Sale (4 CD Set) - 40% OFF!

Video: Charging for the Initial Consultation

(Click image to view)

Ed Poll on YouTube

Video: Charging for the Initial Consultation 

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New Life After Law Coaching Program



"Ed was coaching me during our firm reorganization when disaster hit! Key personnel departed and I was panic-stricken. Not only did he honor his commitment to 24/7, but his advice enabled me to refocus my priorities. Now, I'm eating, I'm sleeping, and I'm smiling thanks to his guidance."

KH, England

"On a personal level, I'm not scared any more. The recession reduced my wife and me from a comfortable two-income family to a one person income and a capital drain. When I first called Ed, I truly was counting the months until we would have to put the house on the market... The things we have put in place and will continue working on guaranteed my business picking up."

FW, Northern California


Ed Poll, LawBiz® Management   |   |   |   |


©2014 LawBiz® Management. All rights reserved.

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