| Volume 32 Number 1 |
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The People’s Lawyer’s Tip of the Day
Most negative information stays on your credit report for seven years, a bankruptcy for ten. The time is not extended, however, when the debt is sold or assigned to a new person such as a debt collector. If a debt collector tries to "re-age" a debt, tell the credit bureau and demand they correct the incorrect information. Click here for more.
GM May Cut Brands
GM is looking at killing off three brands - Pontiac, Saab and Hummer. Hummer has some interested in buying, while SAAB's prospects are a little shakey. Unlike Hummer and SAAB, Pontiac has struggled for two decades and has the highest likelihood of being cut. What does this dramatic move mean for GM? Would a bailout actually help? Click here for more.
OPEC Considering a Reduction In Oil Output
After a meeting in Cairo, OPEC says a decision on whether to cut production will wait until December. The King of Saudi Arabia said the price of oil should be $75 a barrel, much higher than it is now. An increase in the cost of oil will lead to an increase in the cost of gasoline. Just how much can you expect the price to rise? Click here for more.
Your Money
Which lender has the better loan? Click here for more.
For the Lawyers
A debt collector was liable for filing in improper venue. The New Jersey Appellate Division found that a law firm violated federal law when it filed a debt collection action where the creditor has its primary place of business, rather than where the debtor lived or where he signed the promissory notes underlying his debt. Click here for more.