I got a call last week from a potential client. We spent about 30 minutes on the phone, and at the end of the conversation, he asked me if it would be okay for his lawyer to contact me. I have never had a problem with such a request. In fact, I welcome inquiries like this because it allows me to separate myself from others who preach unscrupulous tactics or have questionable backgrounds.
The attorney called me and I could tell early on that he was skeptical about what I could do for his client. He finally asked the “million dollar” question: “What can you do for my client that I can’t do?”
“Well,” I said, “do you have any experience with SBA debt modification or settlement?”
His answer: “No.”
“Do you regularly work with tax returns and personal financial statements?”
Once again, “No.”
Really, it seemed to me that the real question here was this: what made this attorney think he was qualified to represent his client in a negotiation? Lawyers specialize in many areas, so it’s fun to assume that just because someone passed the state bar exam, that makes them an expert in all aspects of the law. To take it one step further, settlement negotiations generally have NOTHING to do with the law (although the resulting paperwork does). Settlements are all about coming to reasonable terms so that the bank never has to take legal action.
Of course, not all lawyers were as arrogant as the one I described above. In fact, I often get calls from attorneys who came to me because their client needed help with an SBA settlement, and the attorney knew he didn’t have enough knowledge to add value to the process. In my opinion, the smartest people are the ones who know when to say “I don’t know.” I get questions all the time about taxes and bankruptcy issues that I honestly don’t know the answer to, and that’s exactly what I say. Similarly, a smart attorney who realizes that debt settlement is not her area of expertise should not “fly.” Instead, they should tell their client that they need an expert in the area of debt settlement. Otherwise, your attorney will simply learn the process as you go, which doesn’t exactly sound like a recipe for success. The bottom line here is that it does matter who you choose to represent you, and in some cases, an attorney is clearly not the right answer.
