MAY 18, 2003
Originally posted by Eric C on May 18, 2003 at 13:04:12:
So, you've received notice of lawsuit. What? I'm being sued?
Welcome to the big leagues! Well, the semi-big leagues anyway.
What should you do next?
Well, the main thing is to not make a bad situation worse. And don't make the mistake of carrying this thing around in your life for the next decade while it's mired in the court system.
It's not personal.
I've been where you are - and worse. Take my advice, get over it. The first time I was
royally screwed party to a lawsuit, it cost me hundreds of thousands of dollars and years of my life. And guess what?
So what? Who was the real loser here?
Who was really to blame?
Would I do it again?
No way. Well, maybe.
It would depend on the circumstances. But I also know MUCH more about the system now. I'd have to make the decision to trade time and aggravation for a chance at the legal lotto.
All in all, I'd probably pass.
And in fact, that's what I've done since that time. Unless there is a very real chance of a quick settlement (with actual cash money, property, etc) coming my way quickly or unless there are larger issues (criminal behavior, etc), I usually pass. It's just too easy to make more money.
Go ahead and vent. You probably think you're entitled to bitch complain a little. I'm not so sure about that, but then again who am I to say?.
In any case, make sure you've learned something here. Not only about your deal structure, selection process, and level of sophistication, but about yourself (specifically) and about human nature (generally).
You take care now.
PS - if you really think you've been hurt, just wait until you lose REAL money. I mean, root of all evil kind of money. Anybody else (besides me)want to raise their hand to show their attendance (and unwilling participation, of course) at a "seminar" that cost them six figures?
Although I hate to admit it, I've even been known to make a "contribution" of more than seven figures (that's two commas to those mathematically inclined in the audience)to "further" my education.
I'm still standing. But I've also got to admit that I cried a lot at the time. :-)) Hey, it's just all part of the ride.
Learn and grow, baby. Learn and grow.