Should I be paying for pre-paid legal services?

Question

Jeff Rabinowitz · Answer

The plans cover much more than law suits. I have had leases and operating agreements reviewed and corrected. I have had collection letters drafted that yielded thousands of dollars. I have explored tax issues and entity structures. I had one quiet title that resulted from a single letter initiated from my pre paid service. I have had bills waived and reduced. I have used the advice of the lawyers at the pre paid firm every time I have had any dealings in court. They have helped me expedite garnishments that I may not have attempted without advice. I appealed a small court decision that i porpbably would have accepted without the service--that alone was a $2,500 turn around for me. (A $1K judgment against me became $1,500 in favor and I did collect.) I also have ID theft coverage through my plan--my wife had her ID stolen and though it still required multiple phone calls to resolve we were not responsible for a single charge. I believe that is because we had prompt notification. I have accumulated more than 100 hours of lawsuit research hours if I should ever need them. I have saved thousands through my plan and never incurred a charge beyond the monthly fee. It costs me ~$25/month. I will not be without it.

Jeff B. · Answer

BAH HUMBUG!!! Prepaid - - that should ring the bell, "Do I INTEND to be or frequently be involved in a law suit?"  Every suit I participated in, I was the plaintiff (all three) and didn't need some Suit to do it for me (and that covered 19yrs of self-management).

If I need representation, THEN that's the time to invest in fees, IMO not month/month for years without any necessity.

Cedric Taylor · Answer

Thanks for the feedback. Legal Shield seemed like a good deal to me, as being new to real estate investing. They stressed the importance of being covered, in case of a frivolous lawsuit. Plus they would answer questions and review contracts and documents for free.

Should I be paying for pre-paid legal services?

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