Sworn in

So, yes, yesterday I was sworn in by Circuit Court Judge Joyce Draganchuk, and she issued an order that I be admitted to practice as a Michigan attorney. My sponsor (who made the motion to have me admitted) was a local attorney I know named Brian Laxton. Judge Draganchak had me recite the entire oath, certainly the longest oath I have ever taken. Technically, in my case it was actually an affirmation, because for religious reasons I make an affirmation whenever asked to make an oath.

I then rushed across the street to the State Bar to complete some more paperwork. They should be mailing me my "P-number", until I get this I can't practice as a lawyer in Michigan.

Until then, I am working on a business plan for my law practice. This is a document that I will take around to banks when I apply for a loan. Among other things, it involves finding the prices for all the things I still need to buy for my practice.

And in my ongoing adventures with Fifth Third Bank, (and I swear, I mean affirm, that when I started this blog I had no intention of focusing so much on Fifth Third Bank) earlier this week a banker from Fifth Third phoned me to try to convince me to use Fifth Third's credit card processing services instead of Midwest Transaction Group, who have partnered with the State Bar of Michigan to provide credit card processing at very reasonable rates. Fifth Third tried to convince me that the only way Midwest Transaction Group could be offering such reasonable rates is if they were some kind of scam. I explained that it was highly unlikely that anyone would be able to scam the State Bar of Michigan, since the State Bar of Michigan includes every practicing attorney in the state. She didn't seem convinced. I also explained to her that I when my business was turned down for a a measly $1,000.00 limit credit card it rather disinclined me from doing business in the future with Fifth Third Bank. When she eventually figured out that she wasn't going to make a sale, she started ringing off by saying "Let us know if there is anything else we can do for you." I told her Fifth Third could issue my business a line of credit.

Fifth Third's ads say "working hard to be the only bank you'll ever need". But in my case I certainly need more than just Fifth Third Bank, because they don't give lines of credit to startup businesses.

Fifth Third Again

I've just heard back from Fifth Third Bank, and they have denied my company's application for a credit card with a $1,000.00 limit. They are simply not interested in giving any loans or lines of credit to a startup business, even when it is owned by a long term customer like me. I had also been thinking of using Fifth Third for my, um, whatchamacallit--I'm going to need to be able to accept credit cards from clients, and I was planning to set that up through Fifth Third, but instead I have found a company that will do this much cheaper than Fifth Third for Bar members.

In other news, I have filed the paperwork so that I can be sworn in this Tuesday afternoon. I will be sponsored by a local attorney that I know.

First day in my new office

Yes, today's the day that I moved into my new office.

The address is at 412 N. Walnut, in Lansing MI. It's in the building that houses the firm of Hicks and Mullett. My office phone number is 321-6049. Note that if the receptionist answers by saying "Hicks and Mullett" you have the right number!

I spent the day learning how the office works, setting my voice mail message, and so on. You will remember that the partners (Hicks & Mullett) told me they could be willing to sponsor me for my admission to the Bar. So with help from Kathy on their staff I set an appointment Tuesday afternoon with Judge Joyce Draganchuk of the circuit court. At that time, I will need a sponsor to make the motion so I can be sworn in. However it doesn't seem that either of the partners will actually be available at that time. They may be able to get another of their tenants to make the motion, or else I can find a lawyer that I know that isn't too busy. Otherwise we will have to reschedule.

I am also continuing to look for funding sources. One issue is that I have not had any taxable income for the past three years, because I was a full time law student. This seems to be raising the eyebrows of potential lenders, such as the credit union loan officer I spoke with by phone. He doesn't think it's IMPOSSIBLE for me to get a loan or line of credit from the credit union. I told him about my achievements at law school, and offered to include my transcript with my loan application; he said that would be a good idea. I kind of feel like I am being treated like the first ever law school graduate to go immediately into private practice, when I know that is not the case.

So that's how I filled my day. I am also going to search for sources of potential clients. I think the first step will be to investigate court-appointed work, and also look for contract work, referrals, and overflow from other law firms. That way I can get my name out, and begin networking with other attorneys.

Adventures at Fifth Third Bank

On Thursday, I met with a banker at a branch of Fifth Third Bank. I needed to do this for a number of reasons. I needed to open an "operating account" for my law practice, and also an "IOLTA account" (this is the "trust account" where I will keep money that doesn't belong to me. Legally and ethically I must keep this distinct from the operating account (or my personal accounts!)). I also needed to set it up so that I could accept payment from clients by credit card. And I was hoping to get either a loan or a line of credit. This last is because as a one-person law firm, I expect the income to come in irregularly, maybe one week I will have no revenue, but the next I might be in court every day earning high fees. Also I expect for the first month or two (hopefully not much more) that my expenses may well be higher then my income. Having a line of credit or loan will make it possible for me to get through these brief periods.

Fifth Third Bank was willing to work with me on all of these, except this last one. Their loans and lines of credit are only for established businesses, that have been in business two years or more. They are not interested in working with new businesses, like mine. But because I have been their customer for so long (The first three digits of my account number are 000), they allowed me to apply for a credit card for my business with a limit of only $1,000.00. If I hadn't been their customer for so long they would not have even allowed me to apply for this.

Clearly Fifth Third is not the bank to choose if you are starting a new business. In the afternoon on Thursday I stopped by a credit union, and I also have some leads with other banks in the area. I will let you all know where I end up getting my line of credit or loan.

I am still going to be moving into my new office on July 7th, however I will not be able to take clients immediately, because I still have not been sworn in (The main reason of this is that the last week in June I was out of town at a church conference). But swearing in seems to be routine, and I think I should be sworn in sometime next week. In the meantime, I can finish getting all the little things I need for my practice, and can even start taking contract work from other lawyers, such as research and brief writing.