Busier Than a One Legged Cat in a Sandbox …

July 29, 2011

Well, yes, I suppose I have been as busy as a one legged cat in a sandbox; but this is not about me …

It’s all about an order issued on July 19, 2011 by the Honorable Martin J. Sheehan of the Kenton Circuit Court of Kentucky in the matter of Kissel v Schwartz & Maine. Sometimes judges are just a little silly –

The text of the order reads, in part, as follows:

ORDER

The herein matter having been scheduled for a trial by jury commencing July 13, 2011, and numerous pre-trial motions having yet to be decided and remaining under submission;

And the parties having informed the Court that the herein matter has been settled amicably (the Court uses the word amicably loosely) and that there is no need for a Court ruling on the remaining motions and also that there is no need for a trial;

And such news of an amicable settlement having made this Court happier than a tick on a fat dog because it is otherwise busier than a one legged cat in a sand box and, (more…)

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Mistakes Happen!!!! Don’t beat yourself up

July 27, 2011

“Mistakes happen.” We hear this all the time and yet when we make a mistake we feel terrible and sometimes beat ourselves up over it. I am here to tell you that mistakes are expected. We are all human and we all make mistakes. It’s what you do with those mistakes, after the mistake is made, that matters.

When you make a mistake you should give yourself a few minutes to feel sorry for yourself and beat yourself up if that’s what you want to do.  However, you should not dwell on it and after a short time you MUST spring into action. [more…at The Paralegal]

Truer words have never been spoken …

I have always been a huge advocate of fessin’ up, especially when it comes to work. My mother and father raised me to admit to my mistakes and to correct them – and it wasn’t always easy to do.

I spent a lot of time working in BigLaw and I saw, first-hand, how others handled mistakes – some would try to hide them, others would try to fix them, there were those who would try to pass the blame, and then there were the few brave ones that would speak up and take ownership of their mistakes. I’d like to think I am one of the latter. (more…)

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Consumer Bankruptcies Rise to Pre-BAPCPA Level

July 19, 2011

According to a recent Congressional Research Service report, entitled: “Consumer Bankruptcy and Household Debt“, following the October 2005 implementation of BAPCPA, there was a significant decline in personal bankruptcy filings, as many “rushed to the courthouse” prior to the new law taking effect. However, the number of personal bankruptcy filings have continually risen to 1.5 million in 2010, reaching the pre-BAPCPA level.

After the 2006 lull, filings rose 37% in 2007, an additional 30% in 2008, and another 31% to in 2009 – then increasing in 2010 comparably to the pre-BAPCPA level of in 2010.

Several factors considered in the report include:
  • The percentage of household disposable income going to repay loans, rose from 10.8% in 1993 to 13.93% in 2007 but has declined to 11.51% in 2011;
  • There is a much higher rate of financial distress—using over 40% of income to repay debt—among lower-income families; and
  • A substantial decrease in revolving credit debt following the beginning of the recession in December 2007, declining 18.5%.
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