TIPS ON: Dealing
with Financial Matters
This document was prepared in March 2003 by the Greensboro Office of Legal Aid of North Carolina and may help you:
(A) stay out of court;
(B) improve your position should you end up in court; and/or
(c) improve your long-term financial condition.
CONTENTS
* TIPS on Handling
Financial Transactions
* TIPS on Purchasing Goods
and Services
* TIPS on Signing Important Papers
* TIPS on Dealing with Your
Landlord
* TIPS on Dealing
with Welfare and Other Agencies
* Important telephone numbers (Triad
Area)
* Other Legal Aid of North Carolina Offices
TIPS ON HANDLING FINANCIAL
TRANSACTIONS
- Write down the terms of all financial agreements.Even when you are loaning money to relatives or close friends, write
down all the terms of the agreement. These usually include the date,
amount loaned, interest charged (if any) and when repayment must be made.
Insist that the borrower sign the agreement, even if he/she is a friend or
relative. Signing and keeping a copy of the agreement will prevent later
misunderstandings of what the agreement was. Also, if the borrower later
"forgets" that he/she promised to repay the money, you will have proof of
his promise.
- Always get a receipt when you pay with cash.
Insist on a receipt! If the person claims he/she doesn't have his receipt
book with him, insist that he/she sign any scrap of paper showing your name,
the date, amount and purpose of the payment. Don't deal with a landlord or
seller who refuses to give you a receipt.
- Beware of "co-signing".
Co-signing can be very dangerous! When you co-sign for a relative or
co-worker to buy a car, or to obtain a loan, you become legally responsible
for making the payments if that other person stops making them. NEVER
CO-SIGN UNLESS: (A) You verify that the lender really won't lend the money
without a co-signer; and (B) you are financially able to take over the
payments should your friend or relative stop paying.
TIPS OF PURCHASING GOODS
AND SERVICES
When making any purchase, or borrowing money, you usually can save lots of
money by shopping around for the best price and interest rates.
- Don't be in a big hurry!
- Beware of door-to-door, phone or television salespersons!
- Don't be afraid to say "NO"!
The chances are good that you don't really need the items or services, or
that you can make a better deal elsewhere. If a salesperson has pressured
you to sign papers at your home, you can cancel the deal with three (3) days of
your signing.
TIPS OF SIGNING IMPORTANT
PAPERS
- Before signing, read the paper carefully.
The law assumes that you read, understood and agreed to what you signed
(even if you didn't actually read it). So be sure to read all important
papers carefully before you sign them. Don't assume the paper says exactly
what you agreed to.
- Before signing, change the wording if you don't agree with it.
If there are terms that you don't like, or if some terms are missing,
don't sign it until the changes you desire are made. Normally the law
assumes that all terms relating to a transaction are included in a written
agreement. BEFORE YOU SIGN, you can add or delete words from the paper by
making the changes in ink and initialing next to the changes. If the person
doesn't want you to make changes, you may not want to sign.
- After you sign, keep and save a copy.
You have a right to keep a copy of all papers you sign. Insist on taking
a copy with you before you leave. Be very cautious of the person's promise
to send a copy to you later. Remember: If you don't have a coy, the other
person could destroy the original and you would be unable to prove that
there ever was a written agreement. Keep your important papers in a safe
place, such as in one well-marked folder.
TIPS ON DEALING WITH YOUR
LANDLORD
- Keep good records.
If you sign a lease, get and keep a copy. Get receipts for your security
deposit and monthly rent. Within a week of when you move into rental
property, make a detailed list of an and all problems -- no matter how
trivial. Write the date on the list. Also take photos of the inside and
outside of your dwelling -- both when moving in and moving out. The list
and photos will help if your landlord won't return your security deposit due
to alleged damages. If you complain to your landlord about repairs,
complain in writing, and make a copy of your complaint. Keep all of these
important papers in a safe place.
- Be a good tenant.
Pay your rent on time. Keep your apartment clean. Be a good (quiet)
neighbor. It is fine to demand that your landlord make major repairs (for
example, fix the furnace, repair a leaking roof). However, be aware that
constant demands to make trivial repairs (for example, to replace a lightly
worn carpet, fix a squeaky floor) may cause your landlord to decide not to
renew your lease when it runs out.
- What if your landlord won't make major necessary repairs?
If your landlord refuses to make major necessary repairs, put your
complaints in writing. You still must pay your rent. If your landlord
still won't make repairs, you can ask a court to reduce ("abate") the amount
of rent that you should pay. Contact your local legal aid office for help
with this "rent abatement" claim.
- What to do if your landlord tells you to move out:
A landlord may not legally remove you unless he files a "Summary
Ejectment" (Eviction) Complaint with the court, and wins. Your legal aid
office might be willing to represent you at the eviction hearing. Even if
your landlord wins, you still have at least 10 days before a sheriff's
deputy notifies you of the exact day you must leave. You also may appeal an
adverse eviction decision to District Court. A landlord has no right force
you out without going through the courts (for example, by locking you out,
turning off your utilities). If your landlord uses any of these illegal
"self-help" methods, contact your legal aid office immediately. If you live
in public housing, don't allow anyone to live or visit who is violent,
disruptive or takes drugs. Their misconduct could cause you to be evicted.
Also, don't allow anyone to move in who is not on your lease.
TIPS OF DEALING
WITH WELFARE AND OTHER AGENCIES
- Try not to miss appointments.
Show up on time for all your appointments whenever possible. If you know
that you are going to miss an appointment, try to phone as soon as possible
before the appointment time, and ask to reschedule. If you will be over
five minutes late for your appointment, phone as soon as possible to let
them know that you will be late.
- Promptly report all changes in household size and income.
If you receive benefits from food stamps or any program whose benefits are
based on your income and household size, promptly report changes to your
worker. If you don't, your worker later could demand that you pay back the
benefits, and could cut you off the program for a long time. If you aren't
sure whether to report change, report!
- Keep good records to prove what happened.
First, keep agencies notices describing changes made in your eligibility
or amount of benefits. Second, keep proof when you report changes to your
caseworker. If you mail documents (or carry them to the agency), write on
each document the date and how it was delivered (for example: "dropped off
at DSS 7-10-03"). Make a copy of all papers you turn in. If you phone,
record when you called, whom you spoke to and what was said.
IMPORTANT TELEPHONE NUMBERS (Triad
Area):
OTHER LEGAL AID OF North
Carolina OFFICES
Click
here
to go to the Offices webpage
Disclaimer
The materials contained on this website
are for information and educational purposes only and do not
constitute legal advice.
Also please note that Legal Aid of North Carolina does not
provide legal assistance by E-mail. Contact your Legal Aid of
North Carolina office or a private attorney if you need to speak
to an attorney regarding your particular situation.
See our
complete disclaimer.
Mission Statement
Legal Aid of North Carolina is a statewide, nonprofit law firm that
provides free legal services in civil matters to low-income people in
order to ensure equal access to justice and to remove legal barriers
to economic opportunity.