| Volume 32 Number 3 |
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The People’s Lawyer’s Tip of the Day
Never give someone "change" for a cashier's check. If someone offers to pay for something with a larger cashier's check and asks you for the difference in cash, it probably is a scam and the cashier's check is counterfeit. Remember, until a check is actually paid by the bank, it is nothing more than a worthless piece of paper. Click here for more.
$2.5 Million Fair Debt Collection Settlement
As the the largest civil penalty ever received in a Fair Debt Collection Practices Act, a debt collector agreed to $2.5 million to settle a FTC lawsuit. Click here for more.
College May Become Unaffordable
College tuition and fees increased 439 percent from 1982 to 2007. The median family income rose only 147 percent. It goes without saying - if the trend continues, we won't have an affordable system of higher education. Among the poorest families, the net cost of a year at a public university was 55 percent of median income. As the staggering costs continue to rise, will your children, or grandchildren, be able to afford college? Click here for more.
Big Three Back on Capital Hill
On Thursday, the Big Three automakers returned to Capital Hill to ask for a bailout. This time they arrived by hybrid vehicle, rather than private jet. Just as they took the steps to present a humble appearance, they asked for more money. Now, the automakers have requested $34 billion. If they receive the $34 billion, each company CEO will take a $1 yearly salary. Even so, skepticism persists, and over 60 percent of the nation oppose the bailout. What do you think? Click here for more.
Your Money
Which is better - a 15 year or 30 year mortgage? Click here for more.
For the Lawyers
Insured can be denied coverage. New York’s highest court has held that an insured who failed to update his change of address and therefore was unaware of a suit filed against him can be denied coverage. The court noted, "We have long held, and recently reaffirmed, that an insurer that does not receive timely notice in accordance with a policy provision may disclaim coverage, whether it is prejudiced by the delay or not." Click here for more.