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How Attorneys Find Whether You'd Make an Attractive Lawsuit

I’ve started asking my clients how an attorney can find out whether they have enough money to make an attractive lawsuit target.  Most of them are painfully ignorant and say something like, “Let them find me, I have nothing they’d want.” I tell them, “Don’t be so quick to assume. He uses the Internet to find out everything he wants to know about you and you might be surprised what they can use against you.”
Banks want people to think that there is such a thing as financial privacy, but those days are long goneAssets. Advances in computers and Internet technology allow complete access to the most sensitive personal and financial information. Now, anyone can find out what you own and how much you’re worth.  A single query will hunt through billions of documents to produce a frighteningly thorough profile of a person’s life, in a matter of hours, not weeks. Now it’s very easy for an attorney to assess right away whether you’re “worth the trouble” to sue. Full details on your real estate and business, your account balances, the name of your bank, and your transaction history can be accessed without your knowledge or permission.
You ought to be able to trust your banker, but bank and brokerage account records are easily accessible as they are stored on computers that every bank employee has access to. Unfortunately, some bank employees accept money as an “information broker” to retrieve sensitive financial information others are seeking access to.
Attorneys use these information brokers, private investigators, and other reference services and pay them a modest fee to prepare detailed information about a person’s financial life. Stealing  private financial information can no longer be attributed solely to dumpster divers and low-life two-bit criminals. It’s become a booming “above the board” business, fueled by the litigation explosion, so beware.
Until recently, separate bits of information were scattered all over in files and county records around the country. Information could not be accessed from outside the office where the records were stored. But today the scraps of paper and written records have all been transferred to electronic form, which can be searched and retrieved from any computer using the Internet.
There are ways to protect yourself from this travesty in the form of private trusts, personal LLCs, and so forth. For more information on how to protect yourself, contact me today: alan@moneymastery.com.

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