James Montgomery » Law

San Antonio Business Lawyer

Fri, 11 Dec 2009 19:29:51 +0000

“After taking business transactions apart in the courtroom for more than twenty years, clients (and opponents) began asking me to work on their transactions from the front and prevent the ten most common problems from ever occurring in the first place.”

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James Montgomery

I am the San Antonio business lawyer who works with people in buying and selling businesses, planning for the future, and to get out of financial trouble.

For the last thirty years, I have tried cases for plaintiffs and defendants in State and Federal courts from California to Texas to Delaware. I have been the advocate for individuals and small companies as well as companies in the Fortune 100. Those litigation cases have ranged from representing thousands of homeowners for broken plastic pipe in their homes to oil royalty disputes to breach of confidentiality agreements.

After literally taking business transactions apart in the courtroom for years, clients (and opponents) began asking me to work on the transactions from the beginning to try to prevent the problems from ever occurring. In that stance, I have helped buyers and sellers in the sales of businesses ranging from large retail stores and manufacturing facilities to insurance agencies. I have helped clients buy multi-million dollar, multi-story office buildings and and negotiate commercial lease agreements.

I work to improve the way my clients do business if that fits their goals. I help design corporate structures and business transactions to increase profit, minimize taxes, and make sure that assets are protected from lawsuits. Having filed many suits and obtain judgments, I have learned where the potholes will be.

My business advice programs are based on regular review and meetings in order to get to know the client’s business and plans in more depth than is possible in the normal “hire a lawyer only when in trouble”. It will cost a lot more for me to get you out of trouble than it would cost to keep you out of trouble in the first place.

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I have been named a SuperLawyer in Texas and featured in Texas Monthly.

My lawyer peers have granted me “AV” which is Martindale Hubbell’s (rating agency) highest peer rating for lawyers.

I have presented papers and spoken to audiences that range from service clubs to the State Bar of Texas Continuing Legal Education seminars. I was recently named Individual Finalist, San Antonio Ethics In Business Award, 2009 by the San Antonio Business Journal.

My New Book Is On Amazon!

Fri, 02 Apr 2010 22:31:02 +0000

The Montgomery Letter – February 24, 2010

Sat, 06 Mar 2010 18:41:11 +0000

Are you using Social Media to get new clients or stay in touch?
It’s all about trust
Find out more here:

http://mashable.com/2010/02/24/social-media-trust/

Have you read the Referral of a Lifetime by Tim Templeton?

It has a roadmap to effective client contact
Buy your own copy here:

http://www.amazon.com/Referral-Lifetime-Networking-Bottom-Line-Blanchard/dp/1576753212/ref=sr_1_1?ie=UTF8&s=books&qid=1267034307&sr=8-1

(I get no referral commission)

Settlement Credit Card Debt – Myth Or Real Solution?

Sat, 27 Feb 2010 03:59:11 +0000

- Myth Or Real Solution?

Experienced credit card debt negotiators will tell you that they deal with individuals who suffer from chronic stress almost every day. Chronic stress shows itself in a number of ways as physical symptoms, severe headache, churning stomach, sleeplessness, and even chest pain.

Settlement, credit card debt, is it feasible? Or is it really a myth circulated by scam debt settlement companies?

It is possible to settle credit card debt.

The financial reporting requirements for financial institutions and credit card companies require them to write off the defaulted debt which is an unsecured loan in 180 days. Now that does not mean that you do not owe the debt any longer. It simply means that the debt is now worthless on the books of the credit card company. That result does give opportunities for you to pay off debt at less than the full amount you owe.

If the debt is not collected in 180 days, most companies sell the debt for pennies on the dollar. When the sale occurs depends on the company. Some try to collect the debt themselves for up to a year and others sell the debt immediately. Experience tells one which company does what.

Once the debt goes to collection usually after three months, contact with the debtor accelerates. The contact can be demand letters, phone calls, etc. Some collectors even lie and tell the debtor that they are sending someone to do an asset investigation and that the debtor is required to produce documents. The range in collectors is very broad and unfortunately there are a few bad apples whose tactics are questionable, if not illegal.

Creditor calls come at any time of day if uncontrolled. Calls can be at home at early morning or during the evening or even on Saturday. Creditors even use automated calling systems to get an answer and then come on the line while the system is looking for another debtor.

What do you do? You can actually restrict contact by a letter to a creditor instructing the creditor not to call or contact you. There is specific language that should be used in the notice.

By restricting access, the stress of the collection process can be significantly reduced.

If you cannot deal with the pressure get someone in between you and the creditor, an experienced debt negotiator. By proper notice, all contact with the creditor will flow through the negotiator who will seek to settle credit card debt

Settlements depend on the company involved. Credit card debt settlement can range anywhere from 25 to 70% of the amount owed, if lump sum.

If you cannot do a lump sum, the settlement will need to be a higher amount.

Alternatively, you may not be in a position to pay even a percentage of the debt and you may need to consider credit card debt bankruptcy. The best advice is for you to seek out a good bankruptcy attorney and get advice on your particular situation.

You can learn more about settlement credit card debt and get a free report at Settlement Credit Card Debt

Article Source: http://EzineArticles.com/?expert=James_Montgomery

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The Montgomery Letter February 2, 2010

Sat, 20 Feb 2010 23:40:36 +0000

Credit Card Act of 2010
The Credit Card Act of 2009 goes into effect this month.

Make sure you review the credit card interest rates on your account this billing period. We are finding that the companies have been raising their rates supposedly with disclosure.

We have spend a lot of time negotiating credit card settlements over the last nine months. The credit card companies are experiencing huge losses and it is clear that they see this new law as a way to recoup some of their losses. The reaction is to raise rates before the effective date.

Be very careful to review your account this month.

Next Newsletter I will address how you report violations of the Act. Questions, just let us know how we can be of service, 210-690-3700.

Don’t Get Identity Theft Protection
Go Ahead – Roll The Dice!

I don’t know whether or not you have real identity theft protection – the kind that will repair your credit not just notify you if something is reported. Don’t get identity theft protection unless you value your security. This program covers fixing your problem, not just alerting you like almost all the ones advertised (and for only about $35 per month). Makes a great employee benefit. Can be paid before taxes.

Click Here To Find Out How To Get Identity Theft Protection
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Time for a business security audit? – Call me 690-3700
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Interested in buying notes?
I am forming a group to buy to buy a note that will be secured by real estate and refinanced within one year. Total will be about $400,000 in $50,000 pieces. This notice is not an offer to participate. If you want to know more, call me at 690-3700.
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If you know someone who might want to read The Montgomery Letter – just go to my website, www.jamesmontgomerylaw.com and enter their name and email address in the subscription box on the right side of the page. Send them an email that you gave it to them. They will receive an email asking them to confirm the subscription.

Send Out Cards

Sat, 20 Feb 2010 23:35:30 +0000

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The Montgomery Letter January 5, 2010

Mon, 04 Jan 2010 00:38:04 +0000

The Inheritance Tax Is Gone . . .

But For This Year Only

The inheritance tax completely went away as of January 1, 2010! Unfortunately, the sunset provision will bring it back right now as of January 1, 2011. With a vengeance as the credit drops to $1,000,000 per person from $3,500,000 in 2009. The tax rate is also higher.

Write your Senator and let them know that you want them to pass the extension with the $3,500,000 credit and lower tax rate!

“What I learned from My Father, the Grifter -
A lifetime of lessons on money from a con man”

by Pat Jordan

Editors Note: To read the article, click here

The lessons in this article are a bit surprising given the source.

Keep your overhead (“your nut”) low. The less your monthly overhead, the less you have to make every month. The less you have to earn each month, the more potential freedom that you have.

My good friend Rob Minton puts it this way in his renegademillionaireblog.com:

“What it really seems to boil down to is:
If your “nut” is lower, you own your business.
If your “nut” is higher, your business owns you.

Or I can put this another way…
If your “nut” is lower, you can work less and enjoy life more.
If your “nut” is higher, you must work more and enjoy life less.

Bottom line – Your “nut” ultimately dictates how much happiness and freedom you’ll have in life.”

Think about it. For every dollar in expense, you have to make at least two dollars to pay that expense.

How do you fire yourself?

What are the largest expenses you have? Home loan and car loan? What if you had them paid off? What if you had non-work related income every month sufficient to pay those bills? How would that change your life?

It is the New Year! It is time to take action. Change or expect the same result.

Kill Your Phone Remotely

Many of today’s most popular smartphones can be erased remotely if they are lost or stolen. Here’s how to do it.

Consider what you have on your phone . . . anything there you might not like to have some thief know? Here is how to “kill your phone”.

Read The Full Story

Don’t Get Identity Theft Protection

Go Ahead – Roll The Dice!

I don’t know whether or not you have real identity theft protection – the kind that will repair your credit not just notify you if something is reported. Don’t get identity theft protection unless you value your security. This program covers fixing your problem, not just alerting you like almost all the ones advertised (and for only about $35 per month). Makes a great employee benefit. Can be paid before taxes.

Looking for a private investor that would be interested in buying out a client’s current investors on a $17k note. The client is offering 12% and 2 points for a 1 year note. It is on a current rental property that the client has owned for 4 years. If you or someone you know would like to know more, please email me at jemlaw@mac.com.

Interested in buying notes?

I am forming a group to buy to buy a note that will be secured by real estate and refinanced within one year. Total will be about $400,000 in $50,000 pieces. This notice is not an offer to participate. If you want to know more, call me at 690-3700.

The Montgomery Letter – business law firm 12/15/09

Sat, 19 Dec 2009 14:11:07 +0000

There is Snow at Stoneybrooke in Breckenridge Colorado

Every Now and Then . . .

Congress Actually Does Something Intelligent

Will The Senate Follow Suit?

The Estate Tax

Editors Note: By a 25 vote margin, the present 45% rate and $3.5 million credit ($7 million for married couple) was extended by a House vote.

The House’s decision to extend the current estate tax rate did not come as a surprise to industry observers, who never believed the government would allow the tax to expire altogether and give up the much needed revenue.

Read The Full Story

Struggling With How To Handle Social Media In Your Company?

To blog at work or not? Ready to adopt a policy but have no idea what should be in it? Here are the policies of over 100 companies on that very subject.

Read The Full Story

Don’t Get Identity Theft Protection

Go Ahead – Roll The Dice!

I don’t know whether or not you have real identity theft protection – the
kind that will repair your credit not just notify you if something is
reported. Don’t get identity theft protection unless you value your security. This program covers fixing your problem, not just alerting you like almost all the ones advertised (and for only about $35 per month). Makes a great employee benefit. Can be paid before taxes.

Look Before Contributing to a 529 College Plan

If guardians control the savings account, creditors can seek the money.

Here’s one more thing to worry about: If you contribute money to a tax-advantaged 529 college plan, the beneficiary could lose that money if the parent holding the account declares bankruptcy.

Read The Full Story

Debt settlement negotiation could be an option. Just call me to schedule a free needs analysis review. 690-3700

Postponing The Sale Of Your Business?

May Be Time Soon

The last two years were a bit slow for the mergers and acquisitions industry, but that’s about to change. Based on industry cycles and political and economic analysis, experts point to a resurgence in both buy- and sell-side activity. Some expected trends:

Slated changes to the capital gains tax should drive sellers to market. Capital gains taxes will be increasing by at least 5 percent, (with some camps predicting a jump of 10 or even 15 percent to pay for the federal deficit.) On top of that, there is the proposed surtax of 5.4 percent for the new health care bill; that equates to a 69 percent increase in capital gains!

Read The Full Story

Interested in buying notes? I am forming a group to buy to buy a note that will be secured by real estate and refinanced within one year. Total will be about $400,000 in $50,000 pieces. This notice is not an offer to participate. If you want to know more, call me at 690-3700.

_______________________________________________________________________

If you know someone who might want to know what is in The Montgomery Letter – just go to my website, www.jamesmontgomerylaw.com and enter their name and email address in the subscription box on the right side of the page. Send them an email that you gave it to them. They will receive an email asking them to confirm the subscription.

Happy Holidays!

James Montgomery

www.jamesmontgomerylaw.com

yourexitstrategy.blogspot.com

Of Counsel:

Elms Harmon Macchia, LLC

7800 IH 10 West, Suite 600

San Antonio, Texas 78230

210-690-3700

210-568-4550

Past issues have been archived on my yourexitstrategy blog. In the future they will appear on my jamesmontgomerylaw.com site.