FINANCES CAN BECOME PROBLEMS FOR BAR APPLICANTS

          With increasing frequency I am representing more and more applicants in Florida Bar Investigative Hearings and Formal Hearings before the Florida Board of Bar Examiners with financial problems. These problems range from home foreclosure to unpaid credit card debt.  Applicants ask all the time,”How do I prepare for this hearing when I haven’t done anything to resolve any of these issues?”  Well, the fact of the matter is there are many things you can do. For instance,  it is up to the Florida Bar Applicant to establish a record of rehabilitation at the Investigative or Formal Hearing. One way that I advise my clients to establish financial rehabilitation, is to take a financial educational course. There are several that I find to be particularly helpful and accepted by the Board as establishing financial rehabilitation.  The classes have you set out a plan, which the Board appreciates, that shows how you are going to get out of debt and stay out of debt. If you are in the financial position to pay off debt and close out accounts, then I strongly suggest you do so and submit a newly amended financial affidavit reflecting your new plan.

            The Florida Board of Bar Examiners’ chief concern is that an Applicant isn’t going to turn their back on their creditors. Even if you pay $20 a month or any nominal amount you can afford toward your debt, it is more beneficial to you at your Bar Hearing because this acknowledges you owe the money and are working toward honoring your debts and not turning your back on your creditors. Why are they so concerned you may ask? Well, the answer to that question is simple, trust accounts. You will manage other people’s money as an attorney. If you can’t manage your own finances, don’t expect the Board to allow you to manage others.

            What if my home is in foreclosure or I am delinquent in my mortgage? The popular philosophy on this matter is completely opposite of that of the Florida Bar. Many people feel that in most instances it is financially irresponsible to continue to pay on a mortgage when the value of the house is underwater. The bank took a risk lending on the property just as you took a risk borrowing the money. It was an honest business transaction, with you on the one hand trying to make an investment in a property, and the bank on the other trying to make interest.  However, the Bar does not adopt this outlook and that is the only outlook you should be concerned with. Again, it goes straight to the core of financial responsibility. If you borrow money, you pay it back. If you can’t work out a new deal, then you at least need to stay in constant communication with your creditors and pay what you can. If you can’t pay anything, short sale the property. Also, put everything in writing, send letters so you have documented evidence at your hearing of this communication and work out plan.

            Do everything in your power to resolve all the financial issues before the hearing. Financial irresponsibility is one of the hardest bar hearings to defend because it is a problem today. If you committed a crime years ago, it is actually easier to defend because you have time on your side and it was an isolated incident, whereas with financial problems, as you sit before the Florida Board of Bar Examiners, that problem is still on going. For more advice on Florida Bar Investigative and Formal Hearings you should speak with a lawyer experienced with these types of issues. For a free consultation as to how to prepare for your Florida Bar Investigative Hearing or Formal hearing call, Lars K. Soreide, Esq., with the Soreide Law Group, PLLC. We represent applicants throughout the state of Florida. Our main office is located in downtown Fort Lauderdale. www.FloridaBarHearing.com (888) 760-6552.