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Posts posted by harveyspecter993

  1. 9 minutes ago, TobyFlenderson said:

    This thread gave me a weird blend of relief and fear prior to winter exams. As a 2L, I'm not new to the law school exam grind, but the P/F nature of the end of 1L meant I didn't get a chance to really see if my changes in exam taking strategy had made a meaningful difference from 1L midterms (which returned painful and below-average grades). Seeing all these stories about the odd, fringe cases where people failed made me think simultaneously that surely I wouldn't be one of them, but also, my god, what if I was?

    Coming out of my worst exam, which I absolutely and without a doubt KNEW I had failed (I guessed a handful of questions, and some of the content seemed entirely unfamiliar), I started to plan out my contingency. What does the supplemental examination process look like? When are they held? How do I bring up the topic with employers since the course was somewhat related to the field I'm interested in?

    I got a B. To say I'm pleasantly surprised is...an understatement. That's when I realized that nobody fails law school.

    (And, if you're a 1L who reads this and you're upset about your midterm grades, this is coming from someone that was definitely a below average 1L student and is now a perfectly average 2L student. You'll be fine!)

    The only time I'd truly be worried after an exam would be if I felt I knocked it out of the park. Anecdotally, there seems to be an inverse relationship between post-exam euphoria and exam performance.

    • Like 2

  2. On 1/2/2021 at 1:47 PM, OyVey said:


    I want to encourage all of you here to stop doing what you "hear of others" doing. Do your own research. This is your money, and could potentially be significant money. You should know enough that when you do get to the point that you need to hire a financial advisor, you can identify if you are being taken advantage of and what is actually in your best interests. r/personalfinancecanada on Reddit is an excellent resource. Use the search function there before asking your questions. Note that if it has any relationship with anything government related, things change so an answer within the past 12 months will be best. 

    But honestly... still shaking my head at the thought that paying off an interest free loan with a line of credit is a good idea. 

    Maybe my views will change as I age but for now I think financial advisors are a complete waste of money. 

  3. 10 minutes ago, Diplock said:

    Yeah. This is a great example of why "pre-law" clubs should be banned on campus. This is the kind of discussion you get, when a student at the end of undergrad is advising a student in the middle of undergrad about the legal profession. At least here someone else will step in and call bullshit. In a pre-law club, this sort of claim would pass as authoritative.

    Reminds me of how stupid I was back in second year undergrad to be really upset about not getting on the pre law club's exec team.

    • Like 1

  4. 1 hour ago, Eeee said:

    What do you think is at the "top of the mountain"?

    The people who run these firms worship money. They are usually on divorce #2-3. Maybe it is difficult to relate to them because there is nothing to relate to.

    If the work over everything else attitude witnessed in the other thread is as pervasive as it seems then this isn't hard to believe.

  5. 4 minutes ago, shawniebear said:

    This. I don't think people realize how undesirable a full-retirement can seem to a 70 or 80 year old professional. The type of person who practices law or medicine for 40-50 years and becomes well-respected in their profession is probably not the type of person who has very many hobbies and you're probably not healthy enough to take up new hobbies. At that point in your life, your work is who you are. Your work what gives you life meaning, gives you satisfaction and gives you the motivation to get out of bed in the morning. Maybe you cut down your hours at that point but a full-blown retirement would probably not be attractive. Moreover, I have seen with many elder people that as soon as you stop working your mental abilities start to fail pretty quickly. If you don't use it, you lose it I guess. I have seen this personally with my own 73-year-old father. 


    Work is important but so are other things like raising a family and being there for your kids and grandkids best moments growing up.

    • Like 1

  6. 12 minutes ago, erinl2 said:

    Unless you are working in government or at some in-house positions, retirement planning is likely going to be completely up to you.

    I know this is a really broad and probably practice-type dependent question, but do you have any idea how much lawyers typically retire with/ what the general consensus is on how much you need to retire?

  7. 3 hours ago, Mountebank said:

    the student loc can cause problems if you try to get a mortgage in the next few years (as a revolving line, lenders have no way to amortize the debt for financing application purposes. As a result, they will generally impute a repayment of 3% monthly regardless of the actual payment. This is problematic for two reasons: first, your actual monthly payment is likely a fraction of this; second, they sometimes impute the 3% as against the draw limit and not the current balance even if the LOC is no longer open for further draws).

    You could pre-empt that by foregoing the grace period and converting the LOC into a term loan prior to getting a mortgage.

    • Like 1

  8. 9 minutes ago, directioner said:

    Is it weird to ask a firm why I did not get an interview? I truly thought I had a chance with this firm and did not get offered an interview. Any suggestions on what I can say in the email? I really just want to know where I went wrong with them

    Go for it. The worst that can happen is they either just never respond or send you a generic "It was an unusually competitive applicant pool" schtick. 

    • Like 1

  9. Scotiabank is probably the most popular option for law students. They don't have an income requirement and don't request a cosigner (in most cases anyway). As long as you have your house in order (no collections, late payments etc) you should be good to go.

    • Like 2

  10. 2 hours ago, Toad said:

    I don't think there was anything on my report that suggested I was of particular risk either. I occasionally let a balance linger on my cards, but they were almost always below 10% utilization. No new inquiries. No late payments. No collections.

    I'll call when I get some time to see if they have any particular reasons listed as to why they reduced it.

    In the last month on this forum we have also had a person with excellent credit get rejected for a Scotia PSLOC and another person whose cards weren't going to get renewed after the expiry date (however, he later contacted someone else and they said it was a mistake). It looks like Scotia, like with most banks, are tightening credit and reviewing their exposure. We are yet to have anything that has effected a large number of people yet though. It might just come down to dumb luck as to whether their discretion effects you negatively.


    Better name for this thread would probably be "Looks like Scotiabank is beginning to reduce credit card limits" for now.


    Please give us an update after you speak with Scotia.

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