The Lee Law Firm

Vol. 3, Issue 2.

February 2013
Providing the Best representation at the Best price, Guaranteed!
Bankruptcy News
There have been recent reports that bankruptcy filings are on the decline. While this comes as pleasant news for consumers, many are still wondering why there is so much attention over business and municipal bankruptcy filings.
Although businesses of all sizes and cities have been utilizing the benefits of the bankruptcy process to restructure for many years, the media has really drawn a close eye to high profile cases in recent months. Between the ongoing saga of the American Airlines bankruptcy case, Hostess and many big cities like Stockton, California surrounding headlines; it seems as though they are more prevalent than before. In reality, these cases have been always been a part of life and, just like personal finances, even a corporation or city is subject to the ebb and flow of the economy.
A Chapter 9 filing is one of the lesser known by most consumers, but is the section of the Bankruptcy Code that offers cities, towns, school districts and the like protection as they resolve debt liabilities. For cities, a Chapter 9 filing is usually the last resort, and often the saving grace, of the health of the local economy for a township struggling to provide for its residents.
 
Check Out Our Blogs!!
Avoiding Mistakes In Bankruptcy
Credit After Bankruptcy
Debt Collection Advice
What Clients Are Saying
I just wanted you to know that you have a very pleasant and professional staff. They definitely go above and beyond to help the client’s needs and they take you through every step. You will not leave the office without all your questions being answered. I find all the staff very friendly and a pleasure to speak with.
The first day I came into your office everyone I spoke with said that everything was going to be ok. As you know some people make you feel like they’re going to help you and then at the end they just leave you hanging. Your staff did not make me feel that way. I am so glad that I chose Lee Law Firm. It’s just like your website said, helping good people through bad times. Thank you for all your help! — Chantel

 

Q & A With Mr. Lee
1: What is one simple money management tip you live by?
I always keep an eye on what bills I have coming up. And I make sure that I have enough money to cover those bills each month. If you are not good at keeping track of this you should write it out each month in journal format. This also helps to see exactly what your monthly total amount of income needed will be. Then, based on the total, you can adjust accordingly and always stay on top of your finances.
2. What do you find challenging about tax season?
Tax season is a pain. For me, for you, for everyone. But unfortunately it’s a necessary evil and everyone has to get their taxes filed. I look at tax season in this way—as long as I know it’s going to end I can deal with anything. So each year at this time I just suffer through it and get the documents that I need together and get them to my accountant. It’s not fun. But I get it done.
Have a question for Mr. Lee? Want to see it in next month’s issue? Submit it to newsq@leebankruptcy.com and we may just pick your question to be featured next month!
"A penny saved is a penny earned."
-Benjamin Franklin
 

 

What We Are Up To!
The Lee Law Firm is excited for the upcoming year and some many new offerings for our existing clients and new clients. But, we can't share just yet!
In the meantime, we hope you are happy with us and all that we are doing to make Dallas-Fort Worth a better place for families thriving in their financial futures.
If you are one of the many people who have enjoyed working with us, refer a friend or family member. We would love to offer them the same level of compassion and support we have showed you in the past! We would take honor in the knowing that you liked your experience with us enough to tell friends and family about us!
Money Management Tips
Saving money is one aspect of our financial lives that we could all do a better job at managing. It is tempting to dip into savings to fund purchases, cover the unexpected or simply to pay down debts. While not all of these habits are bad, it really depends on the state of your current savings. Further, you might be surprised to learn that having multiple savings accounts could actually be a better money management strategy.
Consider the reasons you need a savings account. The most important reason for having a savings account is to be an emergency fund for the unforeseen financial hardship. Money experts agree that having at least three to six months worth of essential living expenses saved is a must for all families. This money can be the difference between making ends meet comfortably while getting back on your feet or facing foreclosure and racking up huge amounts of credit debt.
If you already have an emergency fund, the next priority in a second or more savings would be for a college fund for your children for some; for others, a car, luxury items or even that next vacation. Having a separate account especially for other needs can help you keep your money separate, prevent dipping into vital funds, and even help you better track your spending goals.
Did You Know?
Our paper currency originated in Massachusetts Bay Colony in 1690. Today, each paper bill has some unique design features such as:
The pyramid you see on the back of your paper currency is actually the reverse side of the Great Seal of the United States. The pyramid represents strength and permanence. It was left unfinished on purpose to signify the future growth of the country.
The vignette on the back of the $100 note is Independence Hall in Philadelphia.
The hands of the clock on the back of the $100 bill are set at approximately 4:10. Although the time is not readily identifiable to the naked eye, it can be seen when examined with magnification. There are no records explaining why that particular time was chosen.
Stay Connected With Lee Law Firm
Questions or comments? Visit us online at http://leebankruptcy.com or call 817-616-1150