Professional briefing - The Journal Online

Professional practice Advice
What to do if
financial problems
threaten your work
performance, and
potentially your
career?
Dear Ash,
I have got myself into a financial
mess after splitting up with my
partner and this is having a
detrimental effect on my ability
to concentrate at work.
I am constantly worrying
about how I’m going to pay my
bills and am increasingly using
the internet at work as a way of
distracting myself from my
problems. I have also begun to
skip lunch and make excuses for
not attending staff nights out in
order to save money.
Consequently my friends at
work have started to become
more distant as they assume I
don’t want to socialise with
them any more. I’m embarrassed
about revealing my financial
position to anyone but I am
concerned that I may be en
route to losing my job and
isolating my friends even further.
At a recent meeting, my
line manager expressed his
unhappiness about the quality
of my work and warned that I
needed to put in more effort. I
am finding it difficult to cope as
I understand that if I get made
bankrupt I won’t be able to
practise as a solicitor?
38 / theJournal July 2010
Ask Ash
ASH replies:
In the current credit climate, I am
sure you will not be the only
one with financial worries.
Unfortunately, when you are in a
good job with a relatively good
wage, there is a perception that
you must be financially
comfortable and not many admit
it if they are not. Solicitors also
have the added pressure of
ensuring they remain solvent as
this is an inherent condition of
their practising certificate. You are
caught in something of a catch
22 situation, for if you continue
to hide your financial position,
this may just delay your eventual
insolvency, and you may lose
your job due to the stress and
pressures of your situation.
You would be automatically
suspended from the roll of
solicitors if you enter into a trust
deed or are sequestrated, though
you can then apply to be given a
restricted practising certificate
and the Society will consider
each case on its merits.
(Intending trainees are similarly
considered with regard to
whether they should be granted
an entrance certificate.) For
further information contact
registrar@lawscot.org.uk
It is imperative that you
address your financial problems
for the sake of your health and
wellbeing. You may feel that
your situation is hopeless at this
point but that is not inevitable.
You may even be able to find a
way of avoiding becoming
insolvent. I suggest first that you
take some annual leave in order
to focus on dealing with your
situation. Then try to arrange an
appointment with either the
Citizens Advice Bureau or an
independent financial adviser in
order to go through your current
income and outgoings. The CAB
can arrange to speak to your
creditors on your behalf in order
to agree lower payment
arrangements. This could help
with the level of your current
outgoings and prevent creditors
taking any further action against
you in the meantime.
As well as dealing with your
outgoings, also try to increase the
level of your income by perhaps
considering taking in a lodger/
subtenant to share your
rent/mortgage.
Finally, try to ensure that you
seek some form of support
through this difficult time,
whether in the form of opening
up to friends or perhaps
contacting LawCare for
confidential, free advice. Their
website www.lawcare.org.uk has a
section dedicated to stress and
depression (among other topics).
Dealing with your problems
head on should allow you to
focus better on other areas of your
life such as work, as you will have
more clarity and hopefully more
confidence about the future, no
matter what it holds.
“Ash” is a solicitor who is willing
to answer work-related queries from
solicitors and trainees, which can be
put to her via the editor:
peter@connectcommunications.co.
uk or mail to Studio 2001, Mile
End, Paisley PA1 1JS. Confidence
will be respected and any advice
published will be anonymised.
Please note that letters to Ash are not
received at the Law Society of Scotland.
The Society offers a support service for
trainees through its Registrar’s
Department. For one-to-one advice contact
Katie Meanley, Manager in the Registrar’s
Department, on 0131 476 8105/8200, or
katiemeanley@lawscot.org.uk
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